16 Sep 2010 16:19
FOR IMMEDIATE RELEASE 16 September 2010
@UK PLC
("@UK" or the "Company")
PLACING OF NEW ORDINARY SHARES
The Board of @UK announces today that it has conditionally placed 2,333,333 new Ordinary Shares at a price of 3p per Ordinary Share raising £69,999 ("Placing") with an institutional investor. The proceeds of the Placing will be used to provide additional working capital headroom in the Group's budget.
Application will be made for the 2,333,333 new ordinary shares, which will rank pari passu with the existing ordinary shares, to be admitted to trading on AIM and trading is expected to commence on 22 September 2010. The Enlarged Issued Share Capital, following completion of the Placing, will be 64,916,997 Ordinary Shares.
@UK PLC Contact
Ronald Duncan
Chairman
Tel 0118 963 7000
Beaumont Cornish Limited
Roland Cornish
Tel 0207 628 3396
Notes to Editors
@UK PLC is the UK market leader in Platform as a Service using Platform Generator and provides secure cloud based ecommerce, eprocurement and email services to business and the public sector with over 1 million users.
The new @UK PLC Marketplace is due to be launched on the 7th of October, and will be the first major marketplace to calculate the environmental impact of all transactions, along with the ability to offset the transactions. The new marketplace is available at http://www.beta.uk-plc.net during the pre launch period.
Platform Generator provides a leading UK electronic marketplace, has formed over 200,000 companies using the SiteGenerator ecommerce engine. @UK PLC's SiteGenerator ecommerce, part of the Platform Generator, allows suppliers to trade with all major finance systems, @UK PLC's marketplace and other leading marketplaces.
@UK PLC has a Buying Solutions framework contract for the provision of its new "Spend Insight™" Spend Analysis services, that allows its services to purchased by any public sector body with out the requirement for a further tendering process.
@UK PLC's Platform Generator software speeds up secure software development and allows @UK PLC to provides a secure internet eMarketplace enabling buyers such as local authorities, schools and hospitals to buy online from commercial suppliers ranging from large corporations to small to medium enterprises (SMEs). This allows buying and selling to take place with no paperwork and a reduced chance of errors through transposition, achieving major savings throughout the supply chain.
@UK PLC has a key competitive advantage as an ecommerce based marketplace it ensures that prices are correct from requisition through to payment, where catalogue based marketplaces are unable to support carriage, complex pricing and configurable products.
@UK PLC also offers services to new businesses, including incorporation, company secretarial services and filing annual returns.
@UK PLC is included in the Software and Computer Services Sector (9530). For further information please visit www.uk-plc.net