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16 Feb 2011 10:18
16 February 2011
Rotala plc
("Rotala" or "the Company"or "the Group")
Placing
Rotala plc (AIM: ROL) is pleased to announce that, further to its announcement of 25 January 2011, it has successfully placed 1,648,020 new ordinary shares (the "New Ordinary Shares") at 28 pence per share to raise £461,446 for the Company (the "Placing").
John Gunn, the chairman of the Company, has subscribed for 300,020 New Ordinary Shares in the Placing. Following the Placing, he is interested in 5,618,044 ordinary shares representing 16.20% of the enlarged share capital of the Company.
The proceeds of the Placing will be used to repay the first tranche of the bridging loan (which is payable by 28 February 2011) taken out to fund the acquisition of Preston Bus Limited.
The New Ordinary Shares represent approximately 4.7% of the enlarged share capital of the Company of 34,708,388 ordinary shares.
Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that trading in the 1,648,020 New Ordinary Shares will commence on AIM at 8.00 a.m. on 21 February 2011.
The New Ordinary Shares will, when issued and fully paid, rank equally in all respects with the existing ordinary shares, including the right to receive any dividend or other distribution declared, made or paid after the date of their unconditional allotment.
For further information please contact:
Rotala Plc | |
John Gunn, Chairman | 020 7602 7500 |
Simon Dunn Chief Executive | 07825 808 525 |
Kim Taylor, Group Finance Director | 07825 808 529 |
Charles Stanley Securities - Nominated Advisor | 020 7149 6000 |
Mark Taylor Marc Milmo Karri Vuori |
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