1 Sep 2010 18:06
1 September 2010
Insetco plc
("Insetco" or "the Company")
Issue of Equity
The Board announces that, following the exercise of warrants by ADM Investor Services International Limited ("ADM") on behalf of certain of its clients, 6,115,000 new ordinary shares in the Company have been issued and allotted to ADM on behalf of its clients.
In addition, the Board announces that under the terms of the Convertible Loan Note Agreement of 1 April 2010, ADM has on behalf of its underlying clients, exercised conversion rights over £11,000 of Convertible Loan Notes 2012, and that 11,000,000 new ordinary shares in the Company have been issued and allotted to ADM on behalf of its clients.
Accordingly, application has been made for 17,115,000 new ordinary shares (the "New Ordinary Shares") to be admitted to trading on AIM, and it is expected that admission will take place on 7 September 2010.
The New Ordinary Shares will rank pari passu with the existing shares of the Company. Following this allotment the total number of ordinary shares in issue will increase to 74,529,422.
Enquires:
Insetco plc
Clive Cook 020 7887 7450
Charles Stanley Securities
Nominated Adviser
Russell Cook / Carl Holmes 020 7149 6000