Vigilant- intelligent digital video solutions (CCTV).

Vigilant Technology Prices IPO At 43P, Dealings Dec 20



Edited Press Release

LONDON -(Dow Jones)- Vigilant Technology, which designs and manufactures sophisticated, "intelligent" solutions for the high-end CCTV security and surveillance market, Monday announces the pricing of its initial public offering at 43 pence a share to institutional investors in connection with the listing of its ordinary shares on the AIM market of the London Stock Exchange.

Dealings will start on Dec. 20.

Shore Capital is acting as nominated adviser and broker to the company.

The placing will comprise a total of 23,255,814 new ordinary shares which represents 41.1% of the enlarged issued share capital of the company.

Based on the placing price, the market capitalisation of Vigilant on commencement of conditional dealings will be GBP24.3 million.

Gross proceeds of the placing will be GBP10 million and the company intends to use the proceeds to fund the expansion of its sales and marketing team to further its strategy of selling directly, under its own brand name, to systems integrators, dealers and distributors

Sir Trevor Chinn, chairman of the AA, formerly chairman of RAC plc (previously Lex Service PLC), co-chairman of the Israel-Britain Business Council and member of the Tel Aviv University board of governors, is joining the board of Vigilant as chairman.