31 Aug 2010 12:11
FOR IMMEDIATE RELEASE 31 August 2010
@UK PLC
("@UK" or the "Company")
INTENDED PLACING OF NEW ORDINARY SHARES
The Board of @UK announces that it is considering a placing of up to 6,500,000 new Ordinary Shares at a price of 1p per Ordinary Share to raise approximately £65,000 (the "Proposed Placing"). The Board considers that this additional capital would provide additional working capital headroom in the Group's budget. Should the Proposed Placing proceed, certain Directors intend to subscribe for up to 3,000,000 new Ordinary Shares on the same terms.
A further announcement will be made in due course.
@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.
Platform Generator provides a leading UK electronic marketplace, has formed over 200,000 companies using the Platform Generator 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 an OGC Buying Solutions framework contract for the provision of its new "Spend Insight™" Spend Analysis services.
@UK'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 is included in the Software and Computer Services Sector (9530). For further information please visit www.uk-plc.net