excellent19 Sep 2013 15:12
The Company announces that it has conditionally placed 350,000,000 Ordinary Shares at a price
of 1p per share in order to raise gross proceeds of £3.5 million which was arranged by N+1
Singer.
The Placing is conditional upon, amongst other things, the passing of Resolutions by the
members of the Company at a General Meeting. If the Resolutions are passed, the Ordinary
Shares will be allotted immediately after the General Meeting and Admission of the Ordinary
Shares is expected to occur at 8.00 a.m. on 27 September 2013. The Placing is not underwritten.
A circular has today been posted to shareholders to explain the background to the Placing and to
set out reasons why the Board believes these to be in the best interests of the Company and its
Shareholders and to seek your approval to the Resolutions at the forthcoming General Meeting,
which will be held at the offices of N+1 Singer at One Bartholomew Lane, London, EC2N 2AX on
26 September 2013 at 9.00 a.m.