Plexus Regulatory News (POS)

9 Dec 2005 08:00

Plexus Holdings Plc09 December 2005 FOR IMMEDIATE RELEASE Friday 9 December 2005 Plexus Holdings plc ("Plexus", the "Group" or the "Company") First day of Dealings on AIM Plexus an established oil and gas engineering and service business based inAberdeen is pleased to announce the commencement of trading in its shares on AIMunder the ticker symbol: POS. Plexus, who also have an office in London and a presence in Houston, Texas hasdeveloped and patented a method of engineering for oil and gas field wellheadsand connectors, named POS-GRIP(TM), which involves deforming one tubular memberagainst another to effect gripping and sealing. In addition to applying the POS-GRIP technology to conventional fields, as oiland gas exploration and production shifts to more extreme operationalenvironments in response to increasing demand, the Directors recognise thatthere is a significant marketing opportunity in unconventional fields. At the issue price of 59 pence per share, the Company raised £11.0 millionbefore expenses through an institutional placing of 18,644,068 ordinary shares.On Admission and at the issue price the market capitalisation will beapproximately £47.3 million. Bell Lawrie, a division of Brewin Dolphin Securities Limited is acting as bothNominated Adviser and Broker to Plexus Placing statistics Placing Price 59pNumber of Existing Ordinary Shares 61,538,500Number of New Ordinary Shares being issued pursuant to the Placing 18,644,068Number of Ordinary Shares in issue on Admission 80,182,569Market capitalisation following the Placing at the Placing Price £47.3 millionPercentage of enlarged issued Ordinary Share capital being placed 23.3 per cent.Gross proceeds of the Placing £11.0 millionEstimated net proceeds of the Placing receivable by the Company £9.81 million For further details please contact: Plexus Holdings plc Tel: +44 (0)20 7589 8555Bernard van Bilderbeek, Chief Executive Graham Stevens, Finance Director Buchanan Communications Tel: +44 (0)20 7466 5000Tim Thompson / James Strong Bell Lawrie Tel: +44 (0)141 221 7733Kenneth Fleming, Corporate Finance Iain MacArthur, Institutional Sales This information is provided by RNS The company news service from the London Stock Exchange