23rd Oct 2009 14:55
23 October 2009
For immediate release
Lombard Risk Management plc
('LRM' or the 'Company')
Issue of shares pursuant to fundraising
Lombard Risk Management plc, the second largest global provider of specialised software solutions that improve the management of collateralised trading and regulatory compliance announces that, following the resolutions passed at the EGM held on 19 October, 2009, dealings in relation to 70,750,000 new ordinary shares of 0.5 pence each in the capital of the Company issued to raise £2.83 million of equity (being £1.8 million in new equity and a further £1.03 million in conversions of existing loans into equity) have commenced today on the AIM market of the London Stock Exchange.
Further to the issue of the 70,750,000 new ordinary shares above, the total number of ordinary shares of 0.5 pence each of LRM in issue is 206,926,786. The following new shareholders have a notifiable interest in the Company:
|
Shareholder |
Number of ordinary shares of 0.5p each held |
Percentage holding |
|
Legal & General Investment Management Ltd. |
17,280,000 |
8.35% |
|
Gartmore Investment Ltd. |
10,650,000 |
5.15% |
There are no shares held in treasury and so the total number of voting rights in the Company is therefore 206,926,786.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Service Authority's Disclosure and Transparency Rules.
John Wisbey, Chairman & CEO commented "This share issue of £2.83m gives us a healthy cash position as well as allowing us to eliminate our director loans. We have gained some world class shareholders including notifiable interests from Legal and General and Gartmore, and our board also showed its confidence in the Company by collectively subscribing £1.06m of the issue total. It was pleasing that the issue was oversubscribed.
We have a significant opportunity in the next few years in our chosen areas of collateral management and regulatory compliance. We are already building a strong order book from some of our UK regulatory customers for software projects around the FSA's new regulations for Liquidity Reporting that come into effect in 2010, and we have received encouraging levels of interest and commitment from some sizeable banks and fund managers for our Colline collateral management product. This all leads us to be optimistic about the second half of this financial year ending March 2010 and the following financial year".
-ends-
Enquiries:
Lombard Risk Management plc
John Wisbey, Chairman & CEO
Tel: 020 7089 3700
Keith Butcher, FD
Tel: 020 7089 3700
Noble & Company Limited
Brian Stockbridge, Associate Director
Tel: 020 7763 2200
City Profile
William Attwell
Tel: 020 7448 3244
Related Shares:
Lombard Risk Management