30th Oct 2009 12:22
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Press Release |
30 October 2009 |
Asia Digital Holdings plc
("Asia Digital" or "the Group")
Issue of Equity
Placing of Shares
Asia Digital Holdings plc (AIM: ADH.L), an independent online marketing group, announces that it proposes to raise up to £1.275 million (gross of expenses) from a conditional placing up to 255,000,000 new ordinary shares of 0.1 pence each ("New Ordinary Shares") at a price of 0.5 pence per Ordinary Share (the "Placing"). The New Ordinary Shares have been placed by Daniel Stewart & Co plc with institutional and other existing and new shareholders pursuant to a Placing agreement, the details of which are set out below.
Use of Proceeds & Current Trading
The cash proceeds of the Placing, amounting to approximately £1.275 million (before expenses) will be used to reduce creditors and provide working capital for our expected growth.
Adrian Moss, CEO of Asia Digital, commented: "We are delighted with the support demonstrated by both new and existing shareholders and are excited about continuing to build on our existing strategy of growth in the Asia Pacific region."
Admission
Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of London Stock Exchange plc and dealings are expected to commence on 5 November 2009. The New Ordinary Shares will rank pari passu with existing shares in issue. Following the Placing, the total number of Ordinary Shares in issue following the above issue will be 708,768,684 ordinary shares of par value 0.1 pence each.
-Ends-
For further information, please contact:
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Asia Digital Holdings plc |
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Adrian Moss, Chief Executive |
Tel: 00 65 6508 9202 |
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www.adhplc.asia |
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Daniel Stewart & Company plc |
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Paul Shackleton / Stewart Dickson |
Tel: +44 (0) 20 7776 6550 |
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www.danielstewart.co.uk |
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Abchurch Communications |
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Heather Salmond / Nick Probert |
Tel: +44 (0) 20 7398 7715 |
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www.abchurch-group.com |
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