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11 Jun 2009 07:00
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Hightex Group plcΒ
("Hightex"Β or "the Company")Β
Placing of new sharesΒ to raiseΒ approximatelyΒ Β£862,000
11Β JuneΒ 2009
The Board ofΒ HightexΒ is pleased toΒ announce that it hasΒ raised Β£861,915Β (before expenses) in a placing with both existing shareholders and new investors (the "Placing"). The funds will provide Hightex with additional working capital and contribute towards the planned expansion of its membrane business.Β
Details of the Placing
Hightex has unconditionally placed 28,730,516 new ordinary shares ("PlacingΒ Shares) atΒ 3Β pence eachΒ (the "Placing Price")Β to raise Β£861,915 before expenses. The Placing Shares will represent approximatelyΒ 19.36 per cent. of theΒ share capital as enlargedΒ by the Placing. The Placing has been arranged by Ludgate Investments Limited with its clients.Β
TheΒ PlacingΒ Shares, when issued and fully paid, willΒ rank pari passu with the existing issued ordinary sharesΒ of 1 penny each in Hightex.Β
Hightex has today madeΒ applicationΒ forΒ the Placing Shares to be admitted to trading on AIM. Trading in the Placing Shares is anticipated to take place onΒ Wednesday 17Β JuneΒ 2009.
TwoΒ directors have participated in the Placing to the extent of 1,350,000 Placing Shares at the Placing Price, equivalent to a subscription of Β£40,500.Β Details of these subscriptions and the interests of the directors and their connected persons in the ordinary share capital of the Company following the Placing are set out below:
|
Β
|
Placing Shares at 3p per share
|
Shares held following the Placing
|
Enlarged Share Capital (%)
|
|
Charles DesForges
|
350,000
|
1,100,750
|
0.74%
|
|
Charles Sebag-Montefiore
|
1,000,000
|
2,000,000
|
1.35%
|
Details of enlarged share capital
FollowingΒ the admissionΒ to AIMΒ of theΒ Placing Shares, the Company's issued share capital will consist ofΒ 148,383,098Β ordinary shares of 1 penny each.
The above figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest, or a change to their interest, in Hightex under the Disclosure and Transparency Rules.
Enquiries:Β
Charles DesForges, Chairman, Hightex Group plcΒ +44 (0)Β 20Β 7603 1515Β
Singer Capital Markets
Jeff KeatingΒ Β +44 (0) 20Β 3205 7500
About Hightex
Hightex has a long history of building large span roofs and facades usingΒ architecturalΒ membranes, exemplified by the Abuja Stadium for the All African Games in 2003 as well asΒ the Berlin Stadium,Β Germany, used for the most recent FIFA World Cup Final in 2006.Β In 2006Β Hightex completed one of the largest membrane projects in the world,Β designing andΒ constructing the energy-saving, sound-optimised, triple layer membrane roofΒ for theΒ SuvarnabhumiΒ AirportΒ inΒ Bangkok,Β Thailand.
HightexΒ recentlyΒ completed its work on the membrane elementΒ of the new retractable roof over theΒ Centre CourtΒ at the All England Club,Β Wimbledon.Β
In a few weeksΒ HightexΒ will finalise theΒ membrane roof/facadeΒ as part of the upgrading of the First National Bank (FNB) Stadium inΒ Johannesburg,Β South Africa,Β which will be the stadium for several first and second round matches, one quarter-final and the final match at the FIFA 2010 Football World Cup. In addition Hightex was awardedΒ the complete membrane facade for the new Green Point Stadium inΒ Cape TownΒ also for the World CupΒ 2010.
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