Arcontech Group Regulatory News (ARC)

3 Sep 2007 14:11

Knowledge Technology Solutions PLC03 September 2007 Knowledge Technology Solutions plc ("KTS", "the Company") Result of Placing Knowledge Technology Solutions plc, a provider of professional marketinformation services in the finance sector, is pleased to announce that it hascompleted a placing of 111,111,111 new ordinary shares ("Placing Shares") of 0.1pence each at a price of 0.9 pence per share to raise approximately £930,000 netof expenses ("the Placing"). As announced on 7 August 2007, the proceeds of the Placing will be used toprovide additional working capital for the enlarged group following KTS'acquisition of Arcontech Limited ("Arcontech"). The Placing has been performed under existing share authorities agreed at theAGM held on 29 December 2006. KTS Directors Richard Last, Louise Barton (andher husband, Mr. Brian D. Newman) and Michael Levy have participated in thePlacing and have purchased 2,600,000, 2,777,000, 277,000, new ordinary shares,respectively. In addition, Andrew Miller, who is currently a director ofArcontech and who will join the KTS Board of Directors as an Executive Directorupon completion of the acquisition, has purchased 2,777,000 in the Placing. As part of the acquisition consideration, 45,000,000 new ordinary shares of 0.1pence will be issued ("Consideration Shares") including 15,000,000 which will bepaid to Andrew Miller. Of the remaining consideration shares, 15,000,000 shallbe paid to Stephen Prout and 15,000,000 to Andrew Weber . Stephen Prout andAndrew Weber are directors of Arcontech and will not be joining the board ofdirectors of KTS. Following admission, Stephen Prout and Andrew Weber will eachhold 3.07% of KTS's total issued and voting share capital. The acquisition of Arcontech will be completed upon admission of the Placing andConsideration Shares to trading on AIM ("Admission"), which is expected to takeplace on 4 September 2007. Following Admission of the 156,111,111 new ordinary shares, which will rank paripassu in all respects with the existing ordinary shares of the Group, KTS'stotal issued and voting share capital will comprise of 488,642,943 ordinaryshares and Directors participating in the Placing will have the followinginterests in the Company: No of Shares % of total Share Capital Louise Barton (and her husband, Mr. Brian D. Newman) 29,597,000 6.06%Andrew Miller 17,777,000 3.64%Richard Last 5,100,000 1.04%Michael Levy 536,960 0.11% Disclosure: The following is disclosed in relation to Andrew Miller, 48, in accordance withSchedule 2 paragraph (g) of the AIM Rules: Directorships in the last 5 years • Arcontech Limited (current)• Net Effect Limited (current) There is no other information that is required to be disclosed under Schedule 2 paragraph (g) of the AIM Rules. - Ends - Enquiries: Dr Marc Pinter-Krainer, Knowledge Technology Solutions PLC Tel: + 44 (0) 207 256 2300Katie Hunt / Will Henderson, Smithfield Tel: + 44 (0) 207 360 4900Mike Coe / Marc Davies, Blue Oar Securities Plc Tel: + 44 (0) 117 933 0020 Notes to Editors About Knowledge Technology Solutions PLC Knowledge Technology Solutions PLC is an innovative provider of financial marketdata application services and the company is listed on the AlternativeInvestment Market of the London Stock Exchange (ticker symbol: KTS). Utilising its proprietary technologies, KTS focuses on developing and providingreal-time market data services to the financial marketplace by delivering marketdata and news via cost-effective communications channels. KTS's products are designed to run on standard PCs and laptops without the needfor any installation of dedicated hardware, software or infrastructure, as theapplication runs on the server side on powerful clusters of highly resilient andsecure servers. Financial professionals can log on to KTS's services by using a standardInternet connection from any geographical location across fixed and wirelessnetworks. KTS's "zero-client" application service requires no client-sidecomponents and upgrades are automatic. This information is provided by RNS The company news service from the London Stock Exchange