TIDMVEL
RNS Number : 1707A
Velti PLC
02 October 2009
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| For Immediate Release | 2 October 2009 |
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Velti plc
GBP2.9 MILLION RAISED THROUGH PLACING
Velti Plc ('Velti' or 'the Company'), a leading provider of software platforms,
applications and services for advertising agencies, mobile operators and media,
announces that the Company has raised approximately GBP2.9 million (before
expenses) by way of a placing by RBC Capital Markets of 1,820,000 new ordinary
shares of 5 pence each in the capital of the Company (the 'Placing Shares') with
institutional and other investors at a price of 160 pence per share (the
'Placing Price') (the 'Placing').
The Placing Price is at a discount of 3.9 per cent. to the middle market price
of the ordinary shares of the Company of 166.5 pence per share, as derived from
the daily Official List of the London Stock Exchange on 1 October 2009, the
latest date prior to the announcement.
The Placing Shares will, when issued, be credited as fully paid and will rank
pari passu in all respects with the existing ordinary shares of 5 pence each in
the capital of the Company, including the right to receive all dividends and
other distributions declared, made or paid on or in respect of such shares after
the date of issue of the Placing Shares. The Placing has been made on a
non-pre-emptive basis.
As part of the Placing, David Hobley, a non-executive Director of Velti has
purchased 20,000 Placing Shares at the Placing Price. Following this purchase,
Mr Hobley will hold a total of 89,851 Velti ordinary shares.
Application has been made for the new ordinary shares to be admitted to trading
on AIM and dealings are expected to commence on 8 October 2009. Following the
Placing, there will be a total of 37,530,261 ordinary shares of 5 pence each in
issue.
Alex Moukas, Velti's Chief Executive Officer, commented: "We are pleased to
report that this placing of shares has been made in order to satisfy strong
institutional demand for Velti's shares."
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For further information, please contact:
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| Bankside Consultants | Velti |
| Simon Bloomfield | Alex Moukas, Chief Executive Officer |
| simon.bloomfield@bankside.com | +44 (0) 20 7633 5000 |
| +44 (0)207 367 8861 | Nick Miles, PR Manager |
| Steve Liebmann | nmiles@velti.com |
| steve.liebmann@bankside.com | +44 (0)207 633 5034 |
| +44 (0)207 367 8883 | |
| Andy Harris | |
| andrew.harris@bankside.com | |
| +44 (0)207 367 8866 | |
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| RBC Capital Markets | |
| Sarah Wharry | |
| sarah.wharry@rbccm.com | |
| +44 (0)207 653 4667 | |
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This information is provided by RNS
The company news service from the London Stock Exchange
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