20th Oct 2006 07:00
Netcentric Systems PLC20 October 2006 20 October 2006 Netcentric Systems Plc ("Netcentric Systems" or "the Company") Placing of New Ordinary Shares and Update Regarding Reverse Acquisition Netcentric Systems today announces that pursuant to the proposed placingannounced on 5 May 2006 (the "Placing"), the Company has raised US$532,000(approximately £285,000) before expenses through the issue of 26,600,000 newordinary shares of 0.5p each in the Company (the "Placing Shares"). The Placinghas been completed at a price of US$0.02 (approximately 1.07p) per PlacingShare and the proceeds of the Placing are being applied towards costs incurredin relation to a potential reverse takeover. The Placing was taken up by new investors, thereby strengthening the shareholderbase. Application will be made to the London Stock Exchange for the PlacingShares to be admitted to trading on AIM if and when trading in the Company'ssecurities is restored. On 30 June 2006, the Company announced that it had entered into non-bindingheads of terms with a third party which may lead to a transaction constituting areverse takeover under the AIM Rules. These negotiations are ongoing and theBoard expects that the reverse takeover will be completed before the end of theyear. Enquiries: Simon RaggettStrand Partners LimitedTel: (020) 7409 3494 Simon Rothschild/Louise MasonBankside ConsultantsTel: (020) 7367 8888 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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