21st Aug 2006 07:00
Impact Holdings (UK) PLC21 August 2006 Impact Holdings UK Plc PLACING/TRADING UPDATE/DIRECTORS' DEALINGS Impact Holdings UK Plc ( the "Group"), a specialist lender, announces that ithas conditionally raised £3.5 million through the placing of 35,000,000 ordinaryshares of 5 pence each ("Ordinary Shares") at 10 pence per share (beforeexpenses) (the "Placing"). The new ordinary shares are expected to be admitted to trading on AiM on 24August 2006. Following the Placing, the Group will have 113,333,333 OrdinaryShares in issue. The net proceeds of the Placing will be used to increase the lending capacity ofthe Group. Since the Group's readmission to AiM, following its acquisition of ImpactFunding (UK) Limited on the 20 June 2006, the demand for its products hasexceeded the Group's initial expectations. July, the first full month of tradingsince the acquisition, saw substantial increases in loan volumes and theDirectors expect this demand to continue for the foreseeable future. These additional funds will allow the Group to meet that demand and continue toexpand its loan book. The Group is also in discussions with various parties to increase its gearingwhich, with the lending margins currently being achieved, would significantlyincrease the profitability of the loan book. The Group also announces that Bruce Judge, non-executive director of the Group,purchased 950,000 Ordinary Shares in the Company on 18 August 2006, at a priceof 10p per share. Following this purchase, Mr Judge has an interest in 950,000Ordinary Shares representing 1.21% of its issued share capital (following thePlacing this will fall to 0.84%). Richard Kilsby said " It is a very positive sign for the business that thedemand we have experienced over the last six weeks has required us to return tothe market to raise further finance so soon after our admission. We remainconfident that with this additional finance and the systems that are already inplace we will be able to meet that demand and continue our current rate ofexpansion." For further enquiries please contact: Impact Holdings UK plcBob Long Tel: 0161 437 9499 Daniel Stewart & Company plc Alastair Cade/Jonny Franklin-Adams Tel: 020 7776 6550 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IHUK.L