LONDON (Alliance News) - Security systems company Newmark Security PLC on Tuesday said it has placed 65.6 million shares on behalf of a major shareholder with new and existing institutional shareholders.
The shares have been issued at 2.6 pence and represent 14.56% of its issued share capital. They have been placed on behalf of members of the Reid family and associates in order to help satisfy continuing institutional demand.
Shares in Newmark were down 14% to 2.6 pence on Tuesday, one of the worst performers in the AIM All-Share index.
Following the placing, the Reid family will hold 66 million shares, or 14.65% of the company.
"I believe this is a positive development for the company as it improves both the liquidity of the shares and builds upon our existing institutional shareholder base," said Newmark Chief Executive Marie-Claire Dwek.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Newmark Security (NWT)