4th May 2006 07:01
Statpro Group PLC04 May 2006 For release at 07.00 a.m. Thursday, 4 May 2006 STATPRO GROUP PLC ("StatPro" or the "Company") Placing of New Ordinary Shares to raise approximately £2.5 million Proceeds to be used to accelerate implementation of its growth strategy StatPro, the AIM listed provider of portfolio analytics solutions for the globalasset management industry, announces that 3.25 million new ordinary shares ofone penny each in the capital of the Company (the "Placing Shares") have beenplaced by Arbuthnot Securities Limited with institutional investors at a priceof 80 pence per share to raise approximately £2.5 million after expenses (the"Placing"). The Placing Shares represent approximately 9 per cent. of theexisting issued share capital of the Company. The net proceeds of the Placing will be used primarily for working capitalpurposes, in order to accelerate implementation of the Company's growth strategythrough strengthening its client services and consulting teams and funding thecash elements of acquisitions. Application has been made to the London Stock Exchange for the Placing Shares tobe admitted to trading on AIM. The Placing Shares will rank pari passu with theexisting issued ordinary shares of one penny each in the capital of the Company("Ordinary Shares"), save that they will not rank for the recommended finaldividend of 0.5 pence per share proposed in the announcement of the Company'spreliminary results on 20 March 2006. The Placing is conditional, inter alia, on the admission of the Placing Sharesto AIM becoming effective ("Admission"), which is expected to occur on 9 May2006, when dealings in the Placing Shares are expected to commence. FollowingAdmission, the Company will have 39,299,744 Ordinary Shares in issue. StatPro intends to issue a trading update on 17 May 2006, the day of its AnnualGeneral Meeting. Commenting on the Placing, Justin Wheatley, Chief Executive of StatPro, said: "We are delighted with the success of the Placing and we welcome our newinstitutional shareholders and thank our existing shareholders for theircontinued support. The proceeds of the Placing will enable StatPro to accelerate implementation ofits growth strategy and continue to complement organic investment withacquisitions." - Ends - For further information, please contact: StatPro Group plcJustin Wheatley, Chief Executive 020 8410 9876Andrew Fabian, Finance Director Arbuthnot Securities LimitedTom Griffiths/Neil Kirton 020 7012 2000 SmithfieldReg Hoare 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticssolutions for the global asset management industry. StatPro floated on theLondon Stock Exchange in May 2000 and transferred its listing in June 2003 toAIM. StatPro has grown its revenue from continuing operations from £1.8 millionin 1999 to £10.8 million in 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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