Ink7 Sep 2012 13:16
You mean they've run out of 350k already?
TIDMWGP
RNS Number : 9912Z
Worldlink Group Plc
23 March 2012
For release: 23 March 2012
REGULATORY ANNOUNCEMENT
Worldlink Group plc (WGP-L) (the "Company"), a listed company with patented technology covering the transmission and receiving of changing data on all mobile devices, is pleased to announce that it has raised approximately GBP350,000, before expenses, through the issue of 2,261,865 new ordinary shares of 1p each in the Company ("Ordinary Shares") at 15.5p per share, together with the conversion of certain debts and obligations owed by the Company into a further 17,155,859 new Ordinary Shares. The Company has today registered 19,417,724 new Ordinary Shares for admission to trading on the standard list of the London Stock Exchange. This issue of new shares increases the Ordinary Shares admitted to trading to 42,036,383.
These shares have been issued and allotted as follows;
1. 2,261,865 shares at an average price of 15.5 per share to provide additional working capital of approximately GBP350,000;
2. 15,701,430 new Ordinary Shares at a price of 17 per share to satisfy certain debts owed by the Company to present and past employees and directors of approximately GBP2.7m;
3. 161,095 new Ordinary Shares following the conversion of the convertible loan stock issued in April 2011 at a conversion price of 90p; and
4. 1,293,334 new Ordinary Shares to replace shares previously loaned to the Company by directors which were sold and the proceeds invested in the Company.
Pursuant to the issue of new Ordinary Shares set out above, the following directors' interest in the Company are:
Initial Shareholding New Shares New Shareholding New Shareholding %
-------------------------- ------------------------ ------------------------ -------------------
Neil Riches 2,244,727 9,647,822 11,892,549 28.3%
----------------- -------------------------- ------------------------ ------------------------ -------------------
Crispin Burdett 1,329,883 4,879,262 6,209,145 14.8%
----------------- -------------------------- ------------------------ ------------------------ -------------------
Anthony Fish 1,420 1,196,971 1,198,391 2.9%
----------------- -------------------------- ------------------------ ------------------------ -------------------
Neil Riches commented, "We are delighted to announce that we have both raised new funds for the Company as well as convert a significant debt of GBP2.7m. The board regard this as a significant vote of confidence in the development of Worldlink. We have taken the opportunity to tidy up other outstanding mat
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