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Issue of Equity

21st Dec 2010 09:00

RNS Number : 3415Y
TyraTech, Inc.
21 December 2010
 



THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, JAPAN, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. 

 

TyraTech Inc.

("TyraTech" or "the Company")

21 December 2010

 

Issue of Equity

Placing to raise GBP £1.39 million before expenses

 

TyraTech Inc. (AIM:TYR), a leading independent novel eco-technology company for human, animal and environmental health, is pleased to announce today a cash placing of 4,644,446 new TyraTech common shares of $0.001 each in the Company ("Placing Shares") at a subscription price of 30 pence per share (the "Placing"). The Placing Shares, which equate to approximately 9.84% of the current issued share capital of the Company, have been placed by Brewin Dolphin Limited with institutional investors. Immediately following the Placing, the Company's issued share capital will consist of 51,837,468 common shares of $0.001 each.

The funds raised from the Placing, totalling £1,393,334 before expenses, will be used to drive growth in line with the Company's stated strategy and to provide greater strength to the balance sheet whilst introducing to the share register a number of new blue chip institutional investors.

 

The Placing Shares will be issued fully paid and will rank pari passu in all respects with the existing common shares. Application has been made to the London Stock Exchange (the "LSE") for the Placing Shares to be admitted to AIM. This admission is expected to take place on or around 24 December 2010.

 

Since the Interim Results announcement on 29 September 2010 trading at TyraTech has continued in line with the Board's expectations

 

The new shares will trade under the symbol TYR in a restricted manner as permitted by Regulation S of the U.S. Securities Act of 1933 (the 'Securities Act'). Following the Placing TyraTech will have 51,837,468 shares in issue (including 13,741 treasury shares), of which 51,227,955 trade under the symbol TYR and 609,513 trade under the symbol TYRU in an unrestricted manner pursuant to an exemption provided under the US Securities Act. CREST settlement is not available for trades in TYR shares.

 

 

For further information please contact:

 

TyraTech Inc.

Alan Reade, Executive Chairman +1 321 409 7731

www.tyratech.com

 

Brewin Dolphin

Matt Davis +44 (0)113 241 0138

Iain Marlow

www.brewincorporate.co.uk

 

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