Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Subscription to raise £408,270

4th Feb 2015 07:00

RNS Number : 9692D
Arria NLG PLC
04 February 2015
 

 

4 February 2015

Arria NLG plc

 ("Arria NLG" or the "Company")

 

Subscription to raise £408,270

 

Arria NLG (AIM: NLG), a leader in the development and deployment of Natural Language Generation ("NLG") technologies, is pleased to announce that the Company has raised £408,270, before expenses, by way of a subscription to 1,166,486 new ordinary shares of 0.1p each (the "Subscription Shares") at a subscription price of 35p per share (the "Subscription"). The Subscription Shares have been subscribed for by existing shareholders of the Company and the Subscription has been carried out within the Company's existing share authorities. The proceeds will be used for general working capital purposes.

Under the terms of the Subscription, the Company has granted one warrant (the "Warrants") for every five Subscription Shares acquired under the Subscription. Accordingly, a total of 233,296 Warrants will be issued. The Warrants have an exercise price of 133p each, are exercisable at any time up until 30 September 2017 and have the same terms as the existing warrants currently in issue and admitted to trading on AIM. 

The Subscription is conditional only upon admission of the Subscription Shares and the 233,296 Warrants to trading on AIM ("Admission"). Application has been made for Admission and it is expected that the Subscription Shares and Warrants will commence trading on AIM on or around 9 February 2015.

Following the Subscription, the Company's issued share capital now consists of 103,729,210 ordinary shares of 0.01p each, with one voting right each, and 10,085,533 warrants over Ordinary Shares, with no voting rights. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 103,729,210. This figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

Stuart Rogers, Chairman and Chief Executive of Arria NLG, commented: "With the signing of six new commercial agreements in the past six months, in the areas of insurance, banking, agriculture, aviation, oil & gas services and cognitive technology, it is gratifying to have the continuing support of our existing shareholders. Arria's client base is expanding along with its product solutions, and we appreciate the support of our shareholder base."

For further information, please visit www.arria.comor contact:

Arria NLG plc

Stuart Rogers, Chairman and Chief Executive

 

Tel +44 (0) 20 7100 4540

Allenby Capital, Nominated Adviser and Joint Broker

Jeremy Porter / James Reeve

 

Tel: +44 (0)20 3328 5656

 

Westhouse Securities, Joint Broker

Antonio Bossi / Robert Finlay

 

Tel: +44 (0) 20 7601 6100

Walbrook, Financial PR and IR

Bob Huxford / Guy McDougall

 Tel: +44 (0)20 7933 8792

[email protected]

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOESSDEEDFISESE

Related Shares:

NLG.L
FTSE 100 Latest
Value8,798.91
Change63.31