The Board of Optare is pleased to announce that at the Company's General Meeting held earlier today all of the resolutions were duly passed, including the approval of the placing of 370,000,000 new ordinary shares at 2 p per share to raise approximately £7.4 million before expenses (the "Placing").
Full details of the Placing were set out in a circular sent to shareholders on 15 February 2011. Application has been made for a total of 370,000,000 new ordinary shares to be issued pursuant to the Placing to be admitted to trading on AIM. Admission and dealing is expected to occur at 8.00 a.m. on 7 March 2011.
Following the admission of the 370,000,000 ordinary shares on 7 March 2011 the Company's total issued share capital will be 752,145,493 ordinary shares of 1p each. This figure (752,145,493 ordinary shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:-
Jim Sumner - Chief Executive
Tel: 0845 838 9901
Cenkos Securities plc
Stephen Keys/Camilla Hume
Tel: +44 (0) 20 7397 8900
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