18 Feb 2015 07:00
APC Technology Group PLC
("APC" or the "Group")
Upsize of Placing to £1.5 million
Director Dealing
As referred to in the Company's announcement released yesterday, APC Technology Group plc (AIM: APC), the provider of technologies and services intended to help improve organisational sustainability and specialist distributor of electronic components, is pleased to announce that it has conditionally raised, in aggregate, a further £50,000 (before expenses) through the issue of 113,636 new ordinary shares of 2 pence each in the capital of the Company (the "Ordinary Shares") at a price of 22 pence per new Ordinary Share (the "Subscription Shares") to each of the following two Directors of the Company, Richard Hodgson and Andrew Shortis (the "Director Subscription"). A total of 227,272 Subscription Shares have therefore been issued.
The terms and conditions of the Director Subscription are identical to those governing the £1.45 million placing announced yesterday (the "Placing"). Accordingly, the Director Subscription is conditional on the admission of the Subscription Shares to trading on AIM ("Admission"). The net proceeds of the Director Subscription will be used for the same purpose as the Placing, which is to augment the Group's working capital resources.
Application has been made to the London Stock Exchange plc for Admission to become effective and dealings in the Subscription Shares, and those shares issued pursuant to the Placing, to commence at 8.00 a.m. on or around 19 February 2015.
Related Party Transaction
The subscriptions by Richard Hodgson and Andrew Shortis are related party transactions under the AIM Rules for Companies. The Directors, other than Richard Hodgson and Andrew Shortis, consider, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the Director Subscription are fair and reasonable insofar as the Company's shareholders are concerned.
Total Voting Rights
Following completion of the Placing and the Director Subscription, the total issued ordinary share capital of the Group will comprise 90,587,675 ordinary shares of 2 pence each, with each share carrying the right to one vote. The Subscription Shares will be fully paid and will rank pari passu in all respects with the Group's existing ordinary shares.
The Company does not hold any shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
Enquiries:
APC Technology Group plc 01634 290588
Mark Robinson, Chief Executive Officer www.apc-plc.co.uk
Richard Hodgson, Chief Financial Officer
Strand Hanson Limited (Nominated Adviser) 020 7409 3494
James Harris / Angela Hallett / Ritchie Balmer
Northland Capital Partners Limited (Broker) 020 7382 1100
John Howes / Alice Lane
Redleaf Polhill (Financial PR) 020 7382 4730
Rebecca Sanders-Hewett / David Ison apc@redleafpr.com