Crossword Cybersecurity Regulatory News (CCS)

28 Feb 2008 15:22

Clarity Commerce Solutions PLC28 February 2008 28 February 2008 CLARITY COMMERCE SOLUTIONS PLC('CLARITY' OR THE 'COMPANY') Result of EGM and Placing and Open Offer On 5 February 2008 the Company announced its intention to raise up toapproximately £1.8 million (before expenses) by way of a Placing and partiallyunderwritten Open Offer of up to 7,117,623 new Ordinary Shares at 25 pence pershare, on the basis of 2 Offer Shares for every 7 Existing Ordinary Shares. The Company is pleased to announce that by 11.00 am on Wednesday 27 February2008, that being the latest time and date for receipt of completed ApplicationForms and payment in full under the Open Offer, 3,136,411 new Ordinary Shares,representing 44.07 per cent. of the total number of Offer Shares, had beenapplied for by Qualifying Shareholders. In addition, 454,954 new OrdinaryShares, representing 1.42 per cent. of the total number of Offer Shares havebeen placed with certain other investors. In accordance with the Underwriting Agreement, the 3,526,258 new Ordinary Shareswhich were not taken up by Qualifying Shareholders or subscribed for by certainother investors have been subscribed for by Southwind Limited. As a result of the above, the Company has successfully raised the full amount of£1.78 million. The resolutions proposed at today's EGM in connection with the Placing and OpenOffer have been duly passed unanimously. The Open Offer remains conditionalupon admission of the Offer Shares to trading on AIM. Application has been madefor the 7,117,623 Offer Shares to be admitted to trading on AIM and it isexpected that Admission will become effective and that dealings in the OfferShares will commence at 8.00 am on Friday 29 February 2008. Following Admission, the total number of Ordinary Shares in the Company withvoting rights in issue will be 32,029,305. Substantial shareholding In accordance with the underwriting commitment referred to above, SouthwindLimited will, upon Admission, hold a total of 3,526,258 Ordinary Shares,representing approximately 11.01 per cent. of the total voting rights of theCompany. Directors shareholdings Following subscriptions under the Placing and Open Offer, the Directors hold thefollowing shares in the Company: Name Previous number of Amount number of Total number of Percentage of total ordinary shares ordinary shares ordinary shares voting rights subscribed under Placing and Open % OfferJohn O'Hara 511,604 146,172 657,776 2.05Sir Colin Chandler 244,240 69,782 314,022 0.98Stephen Bellamy 544,268 205,732 750,000 2.34Kenneth Smith - 150,000 150,000 0.47 Definitions Terms used in this announcement have the same meaning as those defined in theCircular to Shareholders published by the Company dated 5 February 2008. Ken Smith, Clarity's Group Managing Director, said: "This is excellent news for Clarity, paving the way for a new, exciting phase inthe development of the Company. We are grateful to our shareholders, advisersand staff for their strong support and belief in our future. The support frominstitutional investors is particularly pleasing." For further information, please contact Ken Smith, Group Managing Director (Please call Jacquie Mitchell)Clarity Commerce Solutions plc 01932 778001 Fiona Kindness / Gerry BeaneyGrant Thornton UK LLP (Nominated Adviser) 020 7728 3414 Ian CallawaySVS Securities plc (Broker) 020 7638 5600 This information is provided by RNS The company news service from the London Stock Exchange