RNS Number : 4412I
FFastFill PLC
19 November 2008
19 November 2008
FFastFill plc
("FFastFill" or the "Company")
Proposed Placing of 15,384,615 Placing Shares at 6½ pence per share
FFastFill plc, (AIM: FFA) a leading provider of Software as a Service ("SaaS") solutions
to the electronic financial community,
announces today that KBC Peel Hunt has conditionally placed 15,384,615 new ordinary shares of
1p each in the Company ("Placing Shares") at a
Placing Price of 6½ pence per share (the "Placing Price") to raise approximately £1 million
(the "Placing"). The Placing Shares will
represent 3.9 per cent. of the enlarged issued share capital of the Company.
The Placing Price of 6½ pence per Placing Share represents a discount of 10 per cent. to
the closing middle market price of 7.25 pence
per ordinary share on 18 November 2008, being the last business day before announcement of the
Placing, which the Directors consider to be
fair and reasonable given the size of the Placing.
The proceeds of the Placing will be used to fund the implementation of, and working
capital for Phase 2 of the Company's Asia Pacific
strategy and utilises the Company's existing authority to issue new ordinary shares for cash.
The Company has also today announced its interim results for the 6 months to 30 September
2008. Full details on the interim results are
contained in a separate announcement.
Application has been made to the London Stock Exchange for the Placing Shares to be
admitted to trading on AIM. It is expected that the
Placing Shares will be admitted to trading on 24 November 2008. The Placing Shares will, when
issued, rank pari passu in all respects with
the existing ordinary shares. Following Admission the enlarged issued share capital of the
Company will be 396,395,016 ordinary shares.
For further information please contact:
FFastFill plc +44 (0)20
7665 8900
Keith Todd, Chairman and Chief Executive Officer
Nigel Hartnell, Executive Director
Financial Dynamics +44 (0)20 7831
3113
James Melville-Ross / Matt Dixon / Emma Appleton
KBC Peel Hunt (Nominated Adviser and Broker) +44 (0)20 7418 8850
Oliver Scott / Richard Kauffer
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This information is provided by RNS
The company news service from the London Stock Exchange
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