RNS Number : 2073Y
EBTM PLC
02 July 2008
EBTM
EBTM plc
("EBTM" or "the Company")
Institutional Placing
EBTM plc, the online retailer of music inspired clothing, has raised £675,000 before
expenses through the placing of 19,285,715 new
ordinary shares ("Placing Shares") with institutional investors at a price of 3.5p per share.
The proceeds will be used for additional
working capital and to fund the future development of the Company. Application will be made
for the new ordinary shares to be admitted to
trading on AIM and it is expected that admission will take place on 10 July 2008.
The Placing Shares represent 7.17 per cent. of the enlarged share capital of the Company
and will be issued pursuant to the Company's
existing authorities. Following the issue of the Placing Shares, the Company will have
269,097,744 ordinary shares in issue.
Richard Breeden, Chief Executive, said:
"Following the excellent progress reported in our preliminary results for the year ended
30 April 2008, as announced on 17 June 2008, we
are very pleased to have raised these new funds which will further underpin our strategy of
strong growth. With online retailing predicted
to continue to grow rapidly, the Board views the outlook for the business in the current
financial year as extremely positive."
Enquiries
EBTM plc
Richard Breeden, Chief Executive 020 7819 1950
Officer
Ian Collins, Chief Financial
Officer
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram
020 7634 4700
Blue Oar Securities Plc
Jerry Keen 020 7448 4400
Biddicks
ZoBiddick/Sophie Lane 020 7448 1000
This information is provided by RNS
The company news service from the London Stock Exchange
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