29th Apr 2005 07:12
Emblaze Ltd29 April 2005 Visual Defence Inc. IPO raises approximately £18.4 million Publication of Admission Document 29 April 2005: Emblaze Ltd (LSE: BLZ) announces that its Group company, VisualDefence a leading provider of integrated software and hardware solutions fordigital audio-visual security systems over broadband, IP and wireless networks will publish its prospectus and today submit its application for the admission ofits common shares to trading on the Alternative Investment Market of the LondonStock Exchange plc ("AIM"). Admission is expected to become effective, andtrading in the Company's common shares is expected to commence, on 6 May 2005. Visual Defence also announces that it has raised approximately £18.4 millionbefore expenses, in a placing (the "Placing") with UK institutional investors byKBC Peel Hunt Ltd, of 33,492,823 new common shares at a price of 55 pence pershare (the "Placing Price"). On Admission, the Company will have 82,086,487common shares in issue and a market capitalisation at the Placing Price ofapproximately £45.1 million. The directors believe that the placing will provide it with the financialflexibility necessary for it to build upon its established position as a leaderin the digital audio-visual (AV) security technology and services market and tocapitalise on the predicted growth of the market as a whole. Furthermore, thedirectors of Visual Defence believe that admission to AIM will increase theCompany's credibility amongst its customers and partners and provide the Companywith an appropriate platform from which to accelerate the provision of itsservices. Visual Defence provides solutions that enable digital AV data to be capturedfrom a variety of sources, such as fixed or mobile cameras, microphones,infra-red sensors, access controls and burglar alarms and delivered to local orremote locations where it can be managed and monitored. The Company's solutionsare primarily targeted at government establishments, the military, masstransport centres such as airports, seaports, underground trains and largecommercial enterprises. A key strength of the Visual Defence's systems is that they integrate withlegacy analogue equipment, overcoming problems of compatibility and replacementcosts that potential clients face in the process of migrating from analogue todigital technologies. KBC Peel Hunt Ltd is the Company's Nominated Adviser and broker to VisualDefence. Commenting on the Placing, Oved Tal, Chief Executive Officer of Visual Defencesaid: "We are delighted with the response from institutional investors. Theproceeds of the Placing will enhance our profile with both current and futurecustomers and give us the resources to materially increase our sales andmarketing effort to take full advantage of the forecast growth in the sector." Enquiries: EmblazeDoron Cohen/Hagit Gal +972 9 769 9831/339 Visual DefenceStuart Steinberg +1 905 731 1254 Corfin CommunicationsHarry Chathli, Neil Thapar 020 7929 8989 NOTES TO EDITORS About The Emblaze Group (Emblaze LTD) Emblaze Ltd. is a group of companies sharing a common mission to provide Telecomoperators with technologies, products and solutions for next generationservices: Emblaze Mobile, a new breed in handsets design and manufacturing;Adamind (LSE: ADA), a global leader in content adaptation (transcoding) forwireless operators; Visual Defence, a provider of wireless and IP videosolutions for military and homeland security markets; Emblaze Systems, leadingprovider of customized, media centric, end-to-end solutions for mobile media andOrca Interactive (LSE: ORCA), provider of Interactive Television IPTV middlewarefor Video On Demand (VOD) and broadcast services, aimed at Telecom, cable andxDSL operators. Emblaze Group is traded on the London Stock Exchange (LSE: BLZ) since 1996 andhas offices in the United States, Canada, United Kingdom, China, Korea andIsrael. www.emblaze.com About Visual Defence Visual Defence, recently created from the merger between Emblaze Defense, GiritProjects and AVLogic, is a leading provider of integrated software and hardwaresolutions for digital Audio Video ("AV") security systems over wired andwireless networks. We provide innovative systems design, engineering anddevelopment services that integrate with our 'best-of-breed' technologyplatforms to ensure our clients receive a comprehensive solution offering. Our solutions enable the establishment, management and delivery of digital datafrom multiple edge devices to any location using a Common Management System.This open-architecture management platform provides a simple and cost effectivetransition to digital infrastructure while providing integration with legacyanalogue components. www.visualdefence.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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