ROL.L Regulatory News (ROL)

25 Apr 2007 11:28

Rotala PLC25 April 2007 Rotala plc ("Rotala" or "the Company") Placing of new shares with warrants attaching to raise £0.5 million The Board of Rotala is pleased to announce that it has raised £0.5 million(before expenses) in a placing with investors ("the Placing"). The funds willenable Rotala to continue with its planned expansion strategy and will providethe necessary working capital resources to implement a number of new contractsrecently awarded to the Company and announced on 27th February 2007. Details of the Placing Rotala has conditionally placed 16,666,669 new ordinary shares of 1p each ("NewOrdinary Shares") at 3.0 pence each ("the Placing Price") to raise £500,000(before expenses) representing approximately 4.3 per cent. of the enlarged sharecapital in the Company. The placing is being arranged by Ludgate InvestmentsLimited with its clients. In addition, the Company has issued to the subscribers of the New OrdinaryShares an aggregate of 1,666,663 warrants to subscribe for ordinary shares of 1peach in the Company at 3 pence per share at any time up to 30 November 2009 (the"Warrants"). The Company has today made application for the New Ordinary Shares to beadmitted to trading on AIM. Trading in the New Ordinary Shares is anticipated totake place on 1 May 2007. Before the Placing, the issued ordinary share capital amounted to 367,691,027ordinary shares. Following admission the enlarged share capital will be384,357,696 ordinary shares. Certain directors have participated in the Placing to the extent of 9,666,667placing shares at the Placing Price, equivalent to a subscription of £290,000.Details of the placing commitments and warrants to be issued and the interestsof the directors and their connected persons in the ordinary share capital ofthe Company following the Placing are set out below: Following the Placing Placing Shares at 3.0p Warrants Shares held % per share (excluding options) John Gunn * 8,000,000 800,000 85,093,119 22.1 Geoffrey Flight** 1,666,667 166,666 24,758,334 6.4 * includes Mrs R. S. Gunn, Wengen Pension Plan and the Gunn Trusts** includes the Flight Pension Trust of which Mr Flight is a beneficiary. Contacts: John Gunn, Chairman Rotala plc 020 7236 6236Kim Taylor, CEO Rotala plc 020 7236 6236 David Seal/Rhod Cruwys. Blue Oar Securities Plc 020 7448 4400 This information is provided by RNS The company news service from the London Stock Exchange