APC Technology Group PLC Completion of approximately £2.075 million placing (0439Z)
December 08 2014 - 02:00AM
UK Regulatory
TIDMAPC
RNS Number : 0439Z
APC Technology Group PLC
08 December 2014
APC Technology Group PLC
("APC" or the "Group")
8 December 2014
Completion of approximately GBP2.075 million placing
APC Technology Group plc (AIM: APC), the provider of
technologies and services intended to help improve organisational
sustainability and specialist distributor of electronic components,
is pleased to announce that it has today raised, in aggregate,
approximately GBP2,075,000 before expenses via a conditional
placement via Northland Capital Partners, the Group's broker, of
10,375,000 new ordinary shares of 2 pence each in the capital of
the Group (the "Placing Shares") (the "Placing") at a price of 20
pence per new ordinary share. The Placing Shares have been placed
with certain existing and new institutional investors and will
represent 12.39 per cent. of the Group's enlarged share
capital.
APC intends to use the net proceeds raised from the Placing to
fund increasing working capital requirements associated with
expansion of the business, particularly related to energy
efficiency projects in the UK and in North America.
The closing mid-market price of the Group's existing ordinary
shares on 5 December 2014 (being the latest practicable business
day prior to the date of this announcement) was 24.25 pence per
share.
The Placing is conditional on the admission of the Placing
Shares to trading on AIM ("Admission") and application has been
made to the London Stock Exchange plc for Admission to become
effective and dealings in the Placing Shares to commence at 8.00
a.m. on or around 11 December 2014.
Following completion of the Placing, the total issued ordinary
share capital of the Group will comprise 83,769,493 ordinary shares
of 2 pence each. The Placing Shares will be fully paid and will
rank pari passu in all respects with the Group's existing ordinary
shares.
Enquiries:
APC Technology Group plc 01634 290588
Mark Robinson, Chief Executive www.apc-plc.co.uk
Officer
Richard Hodgson, Chief Financial
Officer
Strand Hanson Limited (Nominated
Adviser) 020 7409 3494
James Harris / Angela Hallett
/ Ritchie Balmer
Northland Capital Partners
Limited (Broker) 020 7796 8800
John Howes / Alice Lane
Redleaf Polhill (Financial
PR) 020 7382 4730
Rebecca Sanders-Hewett / apc@redleafpr.com
David Ison
This information is provided by RNS
The company news service from the London Stock Exchange
END
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