Placing of 7,000,000 Placing Units at an issue price of 37p each
Further to the announcement made on 14 February 2008, the Company is pleased to announce that all resolutions put to the Shareholders’ Meeting of the Company earlier today in connection with the placing of Placing Units (each Placing Unit comprising 2 Ordinary Shares and 1 Warrant) at 37p per Placing Unit were duly passed.
The placing to raise £2.59 million (before expenses) was subscribed in full and it is anticipated that the 14,000,000 new Ordinary Shares allotted pursuant to the placing will be admitted to trading on AIM on 6 March 2008.
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