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RNS Number : 0223D
09 May 2012
9 May 2012
ADVFN plc ("ADVFN" or the "Company")
Issue of Equity
ADVFN announces that it has issued and allotted 3,545,000 new ordinary shares of 1p each. 1,000,000 were issued at a price of 4.75p per ordinary share, 1,000,000 at 4.6p per ordinary share, 1,500,000 at 3.3p per ordinary share and 45,000 at 3.056p per ordinary share pursuant to the exercise of options by Robert Emmet, Non - Executive Director of the Company.
Application to the London Stock Exchange has been made for these new ordinary shares (which rank pari passu with the Company's existing issued ordinary shares) to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings will commence on 15 May 2012. These options had been due to be exercisable after 31 December 2013 but under the terms of the option scheme the Company has agreed to bring this date forward due to Mr Emmet's personal reasons.
Following Admission, the Company's enlarged issued share capital will comprise 628,864,004 ordinary shares. Therefore the total number of ordinary shares with voting rights is 628,864,004. This figure of 628,864,004 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
It is also announced that the shares issued above have been sold by Robert Emmet a Non-Executive director of the company on the open market at an average price of 5.1p per share. Following the share sale Mr Emmet holds no Ordinary Shares, in the Company.
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Clem Chambers, CEO
Grant Thornton Corporate Finance
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