Last checked at 3 May 2011 07:00
RTC Group plc (the "Company")
Subscription to raise £404,000
The Company is pleased to announce that it has raised £404,000 through a subscription of 4,489,062 ordinary shares of 1p each ("New Shares") at a price of 9p per New Share (the "Subscription"). The Company intends to use the net proceeds of the Subscription for working capital and general corporate purposes and in accordance with its business strategy.
Certain Directors and senior management of the Company have subscribed for New Shares under the Subscription and the resultant holdings of the Directors are set out below. In addition, John T White has subscribed for 2,000,000 New Shares under the Subscription and will hold 14.80 per cent of the enlarged issued share capital following the Subscription.
Name | New Shares subscribed for under the Subscription | Shares held following the Subscription | % of enlarged issued share capital following the Subscription |
Director | |||
Bill Douie
| 689,092 | 2,074,698 | 15.35 |
Andrew Pendlebury
| 500,000 | 1,115,175 | 8.25 |
Senior Managers |
|
|
|
Andrew Bailey | 333,330 | 589,388 | 4.36 |
Gary Hewett | 333,330 | 498,130 | 3.69 |
Bryn Clarke | 111,110 | 111,110 | 0.82 |
Michael Ebbitt | 111,110 | 111,110 | 0.83 |
Scott Bulloch | 111,110 | 111,887 | 0.83 |
Lisa Bacon | 33,330 | 33,330 | 0.25 |
Employees |
|
|
|
Chris O'Connor | 55,550 | 55,550 | 0.41 |
Christian Addison | 11,110 | 11,110 | 0.08 |
Elizabeth Trimmings | 55,550 | 59,195 | 0.44 |
Mark Lamb | 111,110 | 111,110 | 0.82 |
Paul Dickens | 22,220 | 22,220 | 0.16 |
Steve Harrhy | 11,110 | 11,110 | 0.08 |
No Previous Involvement |
|
|
|
John T White | 2,000,000 | 2,000,000 | 14.80 |
The Subscription of New Shares by the Directors and senior management is considered a related party transaction under the AIM Rules. Both Directors of the Company are participating in the Subscription and as a result involved in the transaction as related parties. Therefore the Company's nominated adviser, Evolution Securities Limited, has confirmed that it considers that the terms of the Directors' and senior management participation in the Subscription are fair and reasonable in so far as the Company's shareholders are concerned.
Application will be made for the New Shares to be admitted to trading on AIM and dealings are expected to commence on 6th May 2011. The Ordinary Shares will rank parri passu with existing Ordinary Shares in the Company.
Enquiries:
RTC Group Plc Tel: 01332 861 835
Bill Douie, Executive Chairman
Andy Pendlebury, Chief Executive
Evolution Securities Limited Tel: 0207 071 4300
Jeremy Ellis / Chris Clarke