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21 Mar 2011 07:00
21 March 2011 Talent Group plc (`Talent' or the `Company') Subscription to raise £40,500
Talent has today issued 1,350,000 new ordinary shares at 3p per share to raise £40,500 before expenses for the Company (the `Placing'). The Placing is conditional upon admission of the new ordinary shares to trading on AIM. The funds raised will be used to provide working capital generally.
Mr Terry Bate, Chairman of the Company, is subscribing for 350,000 new ordinary shares in the Placing. Following the subscription, Mr Bate will hold a total of 5,000,000 ordinary shares, equivalent to 25.75% of the then enlarged issued share capital of the Company.
Mr Tony Humphreys, an executive director of the Company, is subscribing for 100,000 new ordinary shares in the Placing. Following the subscription, Mr Humphreys will hold a total of 2,846,993 ordinary shares, equivalent to 14.66% of the then enlarged issued share capital of the Company.
Mr Stephen Callen, an executive director of the Company, is subscribing for 100,000 new ordinary shares in the Placing. Following the subscription, Mr Callen will hold 100,000 ordinary shares, equivalent to 0.51% of the then enlarged issued share capital of the Company.
Mr Bob Benton, an existing shareholder of the Company, is subscribing for 733,333 new ordinary shares in the Placing. Following the subscription, Mr Benton will have an interest in 2,035,836 ordinary shares, equivalent to 10.48% of the then enlarged share capital of the Company.
Application will be made shortly for the new ordinary shares to be admitted to trading on AIM and admission is expected to become effective and dealings are expected to commence on 25 March 2011. Following the admission of these shares, the Company will have a total of 19,420,284 ordinary shares in issue.
ENQUIRIES:
Talent Group plc
Tony Humphreys Tel 020 7822 3900
Merchant Securities Limited
John East / Simon Clements Tel 020 7628 2200
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