31 Mar 2015 10:48
31 March 2015
DDD Group PLC
Result of General Meeting
DDD Group plc (AIM: DDD, OTCQX: DDDGY, the 'Company'), the advanced imaging and 3D solutions company, announces that at the General Meeting of the Company held earlier today, the Special Resolution was duly passed.
Accordingly, application has been made for 22,500,000 new ordinary shares of 1p each (collectively, the "New Shares") to be admitted to trading on 1 April 2015 as a result of the equity placing.
This is marginally less than the amount announced on 9 March as a consequence of one of the placees, Hume Capital which subscribed for £25,000 of stock, entering into administration on 12 March 2015. The administrators of Hume Capital have been unable to provide confirmation as to if, or when, the placing proceeds will be released to the Company.
As previously announced, the Company's current cash balance is sufficient to fund its ongoing activities until the end of the year and the Company is in discussions with a number of potential strategic and financial investors to further secure the Company's long term future.
Following admission, the Company's issued share capital will consist of 166,163,572 ordinary shares of nominal value of 1p each, each ordinary share conveying the right to one vote. Therefore, the total number of voting rights in the Company will be 166,163,572. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or change in interest, in the Company under the Financial Service Authority's Disclosure and Transparency Rules.
Holding(s) updates
Following admission of the New Shares, the Company reports the significant holder updates noted below.
Arisawa Manufacturing Co., Ltd ('Arisawa') holds 29,856,123 shares which now represents 18.0% of the issued share capital. Arisawa currently holds £720,000 of convertible unsecured loan notes of the Company which are convertible into 10,200,000 additional shares based on the terms of the applicable agreements and would result in ownership of 22.4% of the Company if fully converted.
Mr. Michael Stubbs increased his holding to 23,448,740 ordinary shares or 14.1% of the issued share capital.
Mr. Nigel Wray, holding 10,420,648 shares, now represents 6.3% of the issued share capital.
Enquiries
DDD Group Chris Yewdall, President & CEO Victoria Stull, CFO
| +1 310 566 3340 |
Peel Hunt LLP (UK Nomad/Joint Broker) Richard Kauffer / Euan Brown
| +44 (0)207 418 8900
|
Beaufort Securities (Joint broker) Jon Levinson / Elliot Hance
| +44 (0)207 382 8300 |
Blytheweigh (UK IR) Alex Shilov / Andrea Benton
| +44 (0)207 138 3204 |
Berns & Berns (US PAL) Michael Berns, esq. | +1 212 332 3320 |
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About DDD
DDD transforms the visual experience. Its advanced imaging and TriDef® solutions are licensed by leading brands for use in TVs, tablets and PCs. Over 51 million 3D products have been shipped by DDD's licensees worldwide. DDD's shares are quoted on the London Stock Exchange's AIM Market (AIM: DDD) and the OTCQX (DDDGY). For more information please visit www.ddd.com.