Become a Member

Track your favourite stocks
Create & monitor portfolios
Daily portfolio value

Company	Chg	Chg %
Quickpicks
£	%
Add shares to your quickpicks to display them here!

Result of GM & Placing

25th Sep 2008 12:47

RNS Number : 3142E

Artilium PLC

25 September 2008

Artilium plc

Result of General Meeting

Result of Placing

Artilium plc ("Artilium" or the "Company"), a developer of middleware that opens mobile networks to third-party generated commerce, media and connected social networking applications, is pleased to announce that all of the resolutions proposed at the Company's General Meeting ("GM") held today were duly passed.

Pursuant to the Placing, the Company is pleased to announce that it has placed 28,852,942 Placing Shares with a number of investors in two tranches as follows:

1 proceeds of £2.2m, prior to expenses, have been raised from placees in respect of 9,498,104 Placing Shares at a price of 23.25p each. Included in this amount is 250,000 Placing Shares subscribed for by Robert Marcus, CEO of Artilium and 95,805 Placing Shares subscribed for by other employees of Artilium. These placees will each receive a Warrant to subscribe for one new Ordinary Share at a price of 28.85p exercisable at any time during the three year period from issue.

2 an additional sum in respect of 19,354,838 Placing Shares has been raised from an institutional investor. The Company has entered into an agreement with the placee whereby the proceeds are received in monthly instalments over a 24 month period, the exact amounts receivable being dependent upon the Company’s share price performance over the period.

As a result of the Placing, the Company will issue 30,788,426 new Ordinary Shares which includes 1,935,484 new Ordinary Shares issued to settle certain expenses. The Company has made application for admission of the new Ordinary Shares to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will take place on 1 October 2008.

Pursuant to the Placing, the total number of voting rights as at 26 September 2008 increases to 89,576,351. This figure should 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 FSA's Disclosure and Transparency Rules.

Capitalised terms used, but not defined in this announcement have the same meanings as set out in the circular published on 1 September 2008.

For further information contact:

Financial Dynamics Harriet Keen/Matt Dixon	+44 (0) 20 7831 3113
Deloitte Corporate Finance Nominated Adviser Jonathan Hinton/David Smith	+44 (0) 20 7936 3000

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCILFSLALIEFIT

Related Shares:

FTSE 100 Latest

Value8,798.91

Change63.31