extracts; rns feb 20137 Nov 2013 11:05
Corero Network Security plc
("Corero" or the "Company")
Proposed Fundraising to raise £4.05 million
"Corero Network Security plc (AIM: CNS),the network security and business software provider, is pleased to announce a conditional placing to new and existing shareholders and a conditional subscription by directors and management of the Company of, in aggregate, 27,000,004 new ordinary shares of 1p each (the "New Ordinary Shares") at a price of 15 pence per Placing Share to raise up to £4.05 million (before expenses) (the "Fundraising")."
.....
"On completion of the Fundraising, the number of Ordinary Shares in issue held by the Concert Party will be 34,966,912, representing 40.8 per cent. of the Enlarged Issued Share Capital (excluding the Share Options and DPSP as set out above, the exercise of which would mean that the Concert Party were interested in 36,205,912 Ordinary Shares representing 41.7 per cent. of the Company's issued share capital after such exercise, on the basis of the assumptions set out above). An increase in the Concert Party's shareholding to over 30 per cent. of the issued shares through the Fundraising on the terms referred to above would usually trigger an obligation for the Concert Party to make a general takeover offer for the Company to all the other shareholders in accordance with Rule 9 of the Takeover Code."