RE: Excellent company26 Jul 2018 14:35
The Placing
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Subject to the satisfaction of the conditions under the Placing Agreement including, among other matters, the passing of the Resolutions without amendment, the Company will issue up to 46,875,000 new Ordinary Shares which will raise up to £18.75 million, before expenses, and £17.5 million, after the expenses of the Placing (which are estimated to be up to approximately £1.25 million (excluding VAT)). The Placing Shares have been conditionally placed by Cenkos, acting as the bookrunner and as agent for the Company, with institutional and other investors. Application will be made for the Placing Shares to be admitted to trading on AIM, and, on the assumption that, among other matters, the Resolutions are passed, dealings in the Placing Shares are expected to commence on 7 August 2018