13 Dec 2012 07:00
13 December 2012
Nasstar plc
("Nasstar" or the "Company")
Issue of Equity
Nasstar plc (AIM: NASA), the hosted desktop cloud service provider, is pleased to announce that the Company has raised £880,000 before expenses through the subscription to 8,000,000 new ordinary shares of 1p each in the Company (the "Subscription Shares"), at a price of 11p per Subscription Share, by a combination of new and existing institutional shareholders (the "Subscription"). The Subscription is conditional only upon admission of the Subscription Shares to trading on AIM ("Admission"). The closing bid price of an ordinary share in the Company on 12 December 2012, being the latest practical date prior to this announcement, was 10p. Application has been made for the Subscription Shares to be admitted to trading on AIM and it is anticipated that Admission will occur on or around the 17 December 2012.
The proceeds of the Subscription will be used to assist the Company with its growth strategy.
Charles Black, CEO of Nasstar, commented "The subscription, which is primarily made up of a major new institutional shareholder, validates the progress we have made building Nasstar into a hosted desktop business, and underpins our growth strategy."
Following Admission, the Company's total issued share capital will consist of 61,760,053 ordinary shares of 1p each ("Ordinary Shares"). This figure may be used by shareholders in the Company 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 Financial Services Authority's Disclosure and Transparency Rules.
For further information, please contact:
Nasstar plc | 020 7148 5000 |
Charles Black, Chief Executive Officer
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Allenby Capital Limited, Nominated Adviser and Broker | 020 3328 5656 |
Nick Naylor James Reeve
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Gresham PR | 07866 805 108 |
Neil Boom
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About Nasstar plc
Nasstar (www.nasstar.com) provides Hosted Desktop, a cloud computing service that enables subscribers to access their desktop, applications and data in the cloud rather than using local hard drives. Hosted Desktop is a highly scalable service that provides benefits including anywhere access to computing, a standardised corporate desktop solution that can be accessed globally and in multiple languages and cost savings when compared to the traditional IT ownership model, replacing capital expenditure with a simple usage based payment model.
Nasstar was founded in 1998 by Charles Black. Nasstar plc was admitted to trading on the London Stock Exchange Alternative Investment Market in December 2005 (AIM: NASA).