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Issue of Equity

25th Jul 2014 07:00

RNS Number : 2923N
Cientifica PLC
25 July 2014
 

CIENTIFICA PLC

 

("Cientifica" or the "Company")

 

Issue of equity

 

Cientifica, the AIM-quoted investment company focused on investment in businesses making use of advanced materials, graphene and emerging technologies, announces that it has conditionally raised £100,000 (gross) through a placing of 6,666,667 new ordinary shares of 0.5p each in the Company ("New Ordinary Shares") at 1.5p per share (the "Placing"). The Placing price represents a 20% discount to the closing mid price of the Company's ordinary shares on 24 July 2014, being the latest date prior to the release of this announcement.

 

The Placing,which has been arranged by Peterhouse Corporate Finance Limited, the Company's broker, replaces the proposed short term loan which was referred to in the Company's Business Update announcement released on 17 July 2014.

 

The net proceeds of the Placing will be applied towardssecuring investments in line with the Company's investing strategy. The Company is currently in advanced negotiations in relation to its first investment, which the Board hopes to be able to finalize shortly. Further announcements will be made as appropriate.

 

The Placing is conditional on admission of the New Ordinary Shares to trading on AIM ("Admission"). Application has been made to the London Stock Exchange for Admission, which is expected to commence on or around 30 July 2014. The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.

 

Total Voting Rights

 

Following Admission, the Company will have 32,815,690 ordinary shares in issue, with each share carrying voting rights. The Company holds no shares in Treasury. The total number of voting rights in the Company is therefore 32,815,690. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Rules and Transparency Rules of the UK Financial Conduct Authority.

 

Tim Harper, CEO of Cientifica PLC, commented:

 

"We are pleased that this placing has been concluded quickly and that the net proceeds will be available for our first investment, which we hope to be in a position to announce shortly."

 

25 July 2014

For further information, please contact:

Cientifica PLC

Tim Harper, Chief Executive +44 (0) 207 518 4300

Allenby Capital (Nominated Adviser)

Nick Naylor/James Reeve +44 (0) 203 328 5656

Peterhouse Corporate Finance (Broker)

Lucy Williams / Heena Karani +44 (0) 207 469 0930

Lothbury Financial Services Limited

Michael Padley / Gary Middleton +44(0) 203 440 7620

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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