placing rns22 Oct 2012 08:49
Pure reduces debt burden with open offer
Pure Wafer plc ("Pure Wafer" or "the Company"), a provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers as an integral part of their cost control programmes, announces a share issue to raise a total of up to £4.49 million ($7.19 million)(approx.) (before expenses) by way of:
· a Placing of 114,285,715 New Ordinary Shares at 3.5 pence per share to the Placees to raise £4.0 million ($6.4 million) (before expenses); and
· a further issue of up to 14,111,410 New Ordinary Shares at 3.5 pence per share to Qualifying Shareholders pursuant to the Open Offer to raise up to £0.49 million ($0.79 million)(approx.) (before expenses).
The issue price of 3.5p per New Ordinary Share represents a discount of 30 per cent. against the mid-market price of 5.0p per share at which the Ordinary Shares were quoted on AIM as at close of trading on 19 October 2012, the last trading day prior to announcement of the Placing and the Open Offer.