Servision PLC Regulatory News (SEV)

31 Dec 2009 09:37



31 December 2009

SerVision Plc

("SerVision" or the "Company")

Issue of Equity

SerVision plc (AIM: SEV), the AIM listed developer and manufacturer of digital security systems, is pleased to announce that it has completed a placing of 2,740,000 new ordinary shares of 1 pence each in the Company at a price of 12.5p per share, raising £342,500 (before expenses) for the Company (the "Placing") through its joint brokers Allenby Capital Limited and Old Park Lane Capital plc. The net proceeds of the Placing will be used by the Company for general working capital purposes.

Gidon Tahan, Chairman and Chief Executive of SerVision, commented "We are pleased to have been able to complete this placing to satisfy an increased market demand. It is positive that current and potential investors have seen the benefits that our technology can offer".

The Placing has been carried out within the Company's current share authorities and application has been made for the 2,740,000 new ordinary shares, which will be issued paid up and rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will be effective on or around 08 January 2010.

The total enlarged issued share capital of SerVision following Admission will be 42,126,102 ordinary shares in the Company. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

For further information see www.servision.net or contact: