TIDMNKTN

RNS Number : 3516V

Nektan PLC

27 January 2017

27 January 2017

Nektan PLC

("Nektan", the "Company" or the "Group")

Results of AGM

and

Offer for Subscription

Nektan is pleased to announce that at the Annual General Meeting of the Company held earlier today, all resolutions were duly passed.

Nektan also announces the result of the offer for subscription (the "Offer") for up to approximately GBP0.5 million at 27.5 pence per share, further details of which were set out in the offer for subscription circular (the "Circular") posted to Shareholders on 29 December 2016.

Nektan received valid acceptances in respect of 475,978 Offer shares representing approximately 26.2 per cent. of the Offer shares available, raising a total of GBP130,894.90.

In combination with the subscription for 8,272,726 new ordinary shares at a price of 27.5 pence, to raise GBP2.275 million, announced on 29 December 2016 (the "Subscription"), in aggregate Nektan has raised total gross proceeds from the Subscription and Offer of GBP2.406 million via the issue of, in aggregate, 8,748,704 new ordinary shares ("New Ordinary Shares").

Application has been made for these 8,748,704 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective, and dealings will commence at 8.00 a.m. on 1 February 2017.

The New Ordinary Shares will on Admission rank pari passu in all respects with the existing ordinary share capital of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 32,851,292 ordinary shares, with voting rights. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares in the Company with voting rights will be 32,851,292. This figure 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 FCA's Disclosure and Transparency Rules.

For further information on the Group, please contact:

 
Nektan                                     via Newgate below 
 Leigh Nissim, Chief Executive 
Patrick Sinclair, Chief Financial Officer 
                                             Tel: +44 20 7601 6100 
 Stockdale Securities Limited 
 Tom Griffiths / Ed Thomas 
 
  Newgate (PR Adviser)                       Tel: +44 20 7680 6521/ 
  James Benjamin                             + 44 7747 113 930 
                                             Em: nektan@newgatecomms.com

Further information on Nektan can be found on the Group's website at www.nektan.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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