8th Feb 2006 07:00
Rotala PLC08 February 2006 FOR IMMEDIATE RELEASE8th February 2006 Rotala plc ("Rotala" or 'the Company') Update on Placing Further to the announcement made on 18 January, the Company wishes to updateshareholders and the market on progress made in relation to the proposed cashplacing to raise approximately GBP1,500,000. Following discussions with certainprospective placees and taking into account the current market spread in theshare price of 1.5p to 2.25p, the Directors expect the placing to be completedat a price of 1.5p per share (a discount of 20 per cent. to the mid market priceon close of business on 7th February 2006.) Full details of the placing will be announced once the process has completed,which is expected to be in early March 2006. The Directors consider that the placing is necessary to secure the financialposition of the Company going forward and, as previously announced, intend tounderwrite up to GBP600,000 of the placing. Contacts:Nick Fox, M: Communications 020 7153 1540/ 07711 727 618 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ROL.L