IN BRIEF: LoopUp raises GBP9 million for investments and debt

LoopUp Group PLC - London-based software provider for remote meetings - Raises GBP8.9 million in placing of 35.4 million shares at 25 pence each, a 32% discount to closing price on Tuesday. This includes the placing of 30.2 million by Cenkos and Panmure Gordon issue and a further 5.2 million via a retail offer by PrimaryBid. Anticipates new shares to start trading on AIM by October 19. Substantial shareholder Andrew Scott subscribes for 19.9 million shares, raising Scott and connected parties' aggregate interest to 26.6 million shares, or a 28% stake in LoopUp. Funds raised for investments, acquisitions and to pre-pay Bank of Ireland debt.

On Wednesday, the company unveiled plans to buy SyncRTC Inc for an enterprise value of USD4.5 million.

Current stock price: 25.02 pence, down 32% on Thursday

Year-to-date change: down 70%

By Josie O'Brien; josieobrien@alliancenews.com

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