Last checked at 4 Sep 2023 13:20
4 September 2023
Concurrent Technologies Plc
("Concurrent Technologies" or the "Company")
Result of General Meeting
Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the design and manufacture of high-end embedded computer solutions for critical applications, announces that at the General Meeting of the Company held earlier today both resolutions were duly passed.
The Company is pleased to confirm that as a result of obtaining shareholder approval for the Fundraising, which comprised an oversubscribed Placing and Retail Offer, Concurrent Technologies has raised a total of £6.8 million through the issue of 10,461,538 Ordinary Shares. The proceeds of the Fundraising will enable the completion of the acquisition of the entire issued share capital of Phillips Machine & Welding Company, Inc (the "Acquisition"), which is due to complete on 6 September and a further announcement will be released in due course relating to the Acquisition.
Total Voting Rights
The Company has applied for admission of the New Ordinary Shares pursuant to the Fundraising to trading on AIM ("Admission"). Admission will occur at or around 8.00 a.m. on 5 September 2023. On Admission, the Company will have 84,361,550 Ordinary Shares in issue, of which 531,522 Ordinary Shares are held in treasury. Therefore, the figure of 83,830,028 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Any term capitalised in this Announcement which is not also defined shall have the same meaning as in the announcement made by the Company on 16 August 2023 entitled 'Proposed Acquisition and Notice of General Meeting' unless the context requires otherwise.
Enquiries:
Concurrent Technologies Plc Miles Adcock - CEO Kim Garrod - CFO |
+44 (0)1206 752626 |
SEC Newgate (Financial PR) Bob Huxford Alice Cho Matthew Elliott | concurrent@secnewgate.co.uk 07469 154806 |
Cenkos Securities Plc (NOMAD) Neil McDonald Peter Lynch | +44 (0)131 220 9771 +44 (0)131 220 9772 |
Note to Editors:
About Concurrent Technologies Plc
Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors. The products are designed to be compliant with industry specifications and support many of today's leading embedded Operating Systems. The products are sold world-wide.
For more information on Concurrent Technologies Plc and its products please visit www.gocct.com.
All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.