Last checked at 9 Sep 2010 12:35
ANGLE plc ('ANGLE' or the 'Company')
Placing
ANGLE plc, which focuses on the commercialisation of technology and the development of technology-based industry, is pleased to announce that it has conditionally raised up to £760,000 through subscriptions for up to 3,304,348 new ordinary shares of £0.10 per share in the Company (the "Subscription Shares") at a price of 23p per share representing a premium of 12.2% on the mid price of 20.5p per share at close of business on 8 September 2010.
The Directors believe that taking this opportunity to raise a modest amount of additional capital at a premium to the market price is in the best interests of the Company and its shareholders. The proceeds of the subscription will be used for general working capital purposes and will strengthen the balance sheet.
The allotment of the Subscription Shares, which is under existing authorities, is conditional on, inter alia, admission of the Subscription Shares to trading on AIM becoming effective in accordance with the AIM Rules for Companies.
Application will be made for the Subscription Shares to be admitted to AIM and it is expected that trading will commence in the Subscription Shares at 8am on or before 29 September 2010.
For further information:
| ANGLE plc | 01483 685830 |
| Andrew Newland, Chief Executive Ian Griffiths, Finance Director
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| Collins Stewart Europe Limited Stewart Wallace
| 0207 523 8350 |
| Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee
| 0207 653 0030 |
Notes to Editors
ANGLE plc
Founded in 1994, ANGLE focuses on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients.
ANGLE's specialist Management services business provides support on a fee-for-service basis to major clients around the world involved in incubation, IP commercialisation, SME innovation and growth and the operation of science & technology parks.
ANGLE also owns a portfolio of company holdings with high growth potential in the medical and technology sectors. These have been developed whilst subsidiaries of ANGLE using its proprietary Progeny® process. ANGLE seeks to retain a substantial shareholding in these companies with a view to ongoing returns from dividend, milestone, royalty and capital returns.
ANGLE's technology commercialisation skills are of increasing relevance as global economies focus on regeneration, innovation and value added components to their industries. ANGLE's technology skills in IT and software, medical and life sciences, clean tech and renewable energies are directly relevant to major growth markets of the future and are marketed as specialised Management services.
ANGLE is quoted on AIM (AGL.L); further information can be found on www.ANGLEplc.com