18th Jun 2008 07:00
SWP Group plc
Issue of equity Proposed Placing of up to 710,000 Placing Shares at 93 pence per share
SWP Group plc, (AIM: SWP.L) (the "Company") announces today that it has conditionally placed 710,000 new ordinary shares of 0.5p each in the Company ("Placing Shares") at a placing price of 93p per share (the "Placing Price") to raise GBP660,300 (the "Placing"). The proceeds from the Placing will be used to augment the Company's working capital. The Placing Shares will represent 4 per cent. of the enlarged issued share capital of the Company.
The Placing Price of 93 pence per placing share represents a discount of 6.06% per cent. to the closing middle market price of 99 pence per ordinary share on 16th June 2008, being the last business day before announcement of the Placing, which the Directors consider to be fair and reasonable given the size of the Placing. The Placing Shares will be issued pursuant to the existing authority granted to the directors of SWP by SWP shareholders at the Company's AGM held on 7 February 2008.
Settlement and dealings Application will be made to London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM. It is expected that the Placing Shares will be admitted to trading on 20 June 2008. The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares.
Following Admission the enlarged issued share capital of the Company will be 17,729,546 ordinary shares.
Related Shares:
SWP.L