15th Aug 2007 07:00
Red24 PLC15 August 2007 red24 plc Issue of Equity red24 plc, the AIM-quoted security and risk management consultantcy, is pleasedto announced that it has raised £200,000 through a placement of 20,000,000ordinary shares of 1p ('Placing Shares') at a price of 1p. As part of the Placing the Company has issued 20,000,000 warrants attached tothe Placing Shares on a one-for-one basis. The warrants give the holder theright to subscribe for new ordinary 1p shares in the Company at an exerciseprice of 1p at any time up to the 31st March 2009. Application has been made for the Placing Shares to be admitted to trading onAIM and dealings are expected to commence on 20th August 2007. The warrants willnot be admitted to AIM or any other Exchange. Following the Placing the issuedshare capital of red24 plc has increased to 324,710,836 ordinary shares of 1p.The new funds will be used to support the rolling out of the red24 brand, bothin the UK and overseas, particularly in the Far East. Following the Placing SVM Asset Management will have an interest in 10,000,000ordinary shares in the Company representing 3.08% and Mr J M Brigg will have aninterest in 18,550,000 ordinary shares representing 5.72%, of which, 3.08% isheld by EMIS International Business Ltd, a company wholly owned by Mr Brigg. Simon Richards, Chairman of red24 plc, commented:"I am delighted to welcome SVM and EMIS as significant shareholders. Thestrengthening of our balance sheet will enable us to roll out the red24 brand aswe continue on our way towards profitability." ---ENDS--- red24plc 01189 7776696Simon Richards Threadneedle Communications 020 7936 9606Josh Royston / Graham Herring HB Corporate 020 7510 8600Luke Cairns / Cecil Jordaan Notes to Editors: red24 plc is a provider of security risk management services, offeringpreventative and reactive advice to help individuals avoid and manage personalrisks to themselves and their families. The products are distributed throughleading international financial service companies. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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