Rtc Grp. Regulatory News (RTC)

30 Apr 2008 07:01

ATA Group PLC30 April 2008 ATA Group plc ("ATA" or "the Company") Issue of Equity ATA Group plc, a support services group which provides recruitment, training andconferencing services, is pleased to announce that it has raised £307,587 via aplacing of 820,233 new ordinary shares of 1 pence each (the "Placing") at 37.5pper share (the "Placing Price"). The Placing Price is based on the averagemid-market closing price on the three days following the release of thepreliminary results announcement on 15 April 2008. The new ordinary shares have been placed with Andrew Pendlebury and AndrewBailey, both directors of the Company. The purpose of the Placing is toincentivise the executive directors with a material stake in the Company, tofurther strengthen the balance sheet of the Company and to show the directors'confidence in the future of the business. Application has been made to the London Stock Exchange for the new ordinaryshares to be issued pursuant to the Placing to be admitted to trading on AIM("Admission"). It is expected that Admission will become effective and thatdealings will commence on 7 May 2008. The new ordinary shares will be issuedfully paid, rank pari passu in all respects with the existing ordinary shares ofthe Company and will be issued subject to the memorandum and articles ofassociation of the Company. The participation of the executive directors in the Placing is a related partytransaction for the purposes of the AIM Rules and accordingly the independentdirectors, having consulted with the Company's nominated adviser EvolutionSecurities, consider that the transaction is fair and reasonable insofar as theshareholders are concerned. Following the Placing the resultant interests of Andrew Pendlebury and AndrewBailey are as follows: +------------------+------------+-------------------+--------------------+|Name |Subscription| Number of Ordinary| Percentage of|| | | Shares after the| enlarged issued|| | | Placing| share capital after|| | | | the Placing|+------------------+------------+-------------------+--------------------+| | | | |+------------------+------------+-------------------+--------------------+|Andrew Pendlebury | 615,175| 615,175| 6.82%|+------------------+------------+-------------------+--------------------+|Andrew Bailey | 205,058| 256,058| 2.84%|+------------------+------------+-------------------+--------------------+ 30 April 2008 For further information please contact: ATA Group plc Tel: 01332 263 122Bill Douie, Executive Chairman.Andrew Pendlebury, Chief Executive Officer.Andrew Bailey, Chief Operating Officer. Evolution Securities Limited Tel: 0207 071 4300Jeremy Ellis / Chris Clarke This information is provided by RNS The company news service from the London Stock Exchange