8 Sep 2010 07:00
JSJS DESIGNS PLC
(AIM: JSJS)
Placing and Issue of Equity
JSJS Designs Plc ("JSJS" or "the Company") announces that it has completed a placing of 15,000,000 new ordinary shares of 0.1 pence each ("New Ordinary Shares") at a price of 2.0 pence per share raising new monies totalling approximately £300,000 ("the Placing").
The New Ordinary Shares are being exclusively placed with Mr Mike Lord. The proceeds of the Placing will be used for working capital purposes.
Further to the Placing, Mike Lord will be interested in 15,000,000 ordinary shares of 0.1 pence representing 5.94 per. cent. of the enlarged share capital. It is the intention of JSJS to invite Mike Lord to join the Board of JSJS as a Non Executive Director. A further announcement will be made when this occurs.
Application has been made to the London Stock Exchange plc for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on 9 September 2010.
Further to the Placing the revised holdings of the directors who hold shares in the Company are as follows:
| Placing participation shares | Shares held after the Placing | Revised % Holding | |
| Mr John Shermer | - | 50,000,000 | 19.80 |
| Mr John Sinclair | - | 50,000,000 | 19.80 |
| Mr Howard Marshall | - | 3,000,000 | 1.19 |
| Mr Frank Tiller | - | 1,500,000 | 0.59 |
In accordance with the provisions of the Disclosure and Transparency Rules of the Financial Services Authority, the Company confirms that, following this issue, its issued share capital comprises 252,533,333 Ordinary Shares of 0.1p each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 252,533,333.
This figure 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 share capital of the Company under the Disclosure and Transparency Rules.
John Shermer, Chief Executive commented:
"I am pleased to report this timely injection of capital that will help us as we continue to move our new products towards commercial roll-out. It is the second placing this year that has been carried out a premium to the share price and we look forward to updating you on further progress in due course."
| Contacts: |
|
|
|
|
| JSJS Designs Plc | www.jsjsdesigns.com |
| John Shermer, CEO | +44 (0) 1902 500 562 |
|
|
|
| WH Ireland Limited | www.wh-ireland.co.uk |
| Mike Coe / Marc Davies | +44 (0) 117 945 3470 |
|
|
|
| SVS Securities Plc | www.svssecurities.com |
| Ian Callaway / Alexander Mattey | +44 (0) 20 7638 5600 |
|
|
|
| Yellow Jersey PR | www.yellowjerseypr.com |
| Dominic Barretto | +44 (0) 20 8980 3545 |
About JSJS Designs
JSJS Designs develops home automation systems to enable consumers to remotely operate everyday household appliances, such as lighting, heating, air conditioning, door entry, audio, video and security. The Company is targeting the potentially significant mass market as consumers increasingly seek to "retro-fit" smart home technologies into their homes and, in the longer term, the "extra care" residential market where there is demand from the providers of such schemes to enable independent living for the elderly and physically immobile.