APC Technology Group PLC Upsize of Placing to £1.5 million (1646F)
February 18 2015 - 2:00AM
UK Regulatory
TIDMAPC
RNS Number : 1646F
APC Technology Group PLC
18 February 2015
APC Technology Group PLC
("APC" or the "Group")
Upsize of Placing to GBP1.5 million
Director Dealing
As referred to in the Company's announcement released yesterday,
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 conditionally raised, in aggregate, a further
GBP50,000 (before expenses) through the issue of 113,636 new
ordinary shares of 2 pence each in the capital of the Company (the
"Ordinary Shares") at a price of 22 pence per new Ordinary Share
(the "Subscription Shares") to each of the following two Directors
of the Company, Richard Hodgson and Andrew Shortis (the "Director
Subscription"). A total of 227,272 Subscription Shares have
therefore been issued.
The terms and conditions of the Director Subscription are
identical to those governing the GBP1.45 million placing announced
yesterday (the "Placing"). Accordingly, the Director Subscription
is conditional on the admission of the Subscription Shares to
trading on AIM ("Admission"). The net proceeds of the Director
Subscription will be used for the same purpose as the Placing,
which is to augment the Group's working capital resources.
Application has been made to the London Stock Exchange plc for
Admission to become effective and dealings in the Subscription
Shares, and those shares issued pursuant to the Placing, to
commence at 8.00 a.m. on or around 19 February 2015.
Related Party Transaction
The subscriptions by Richard Hodgson and Andrew Shortis are
related party transactions under the AIM Rules for Companies. The
Directors, other than Richard Hodgson and Andrew Shortis, consider,
having consulted with Strand Hanson Limited, the Company's
nominated adviser, that the terms of the Director Subscription are
fair and reasonable insofar as the Company's shareholders are
concerned.
Total Voting Rights
Following completion of the Placing and the Director
Subscription, the total issued ordinary share capital of the Group
will comprise 90,587,675 ordinary shares of 2 pence each, with each
share carrying the right to one vote. The Subscription Shares will
be fully paid and will rank pari passu in all respects with the
Group's existing ordinary shares.
The Company does not hold any shares in treasury and, therefore,
the above figure may be used by shareholders as the denominator for
the calculation by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
Company.
Enquiries:
APC Technology Group plc 01634 290588
Mark Robinson, Chief Executive Officer www.apc-plc.co.uk
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 7382 1100
John Howes / Alice Lane
Redleaf Polhill (Financial PR) 020 7382 4730
Rebecca Sanders-Hewett / David Ison apc@redleafpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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