Servision PLC Regulatory News (SEV)

SerVision PLC

("SerVision" or the "Company")

Subscription to raise c. £625,000

SerVision (AIM: SEV), the AIM quoted developer and manufacturer of digital security systems, is pleased to announce that it has conditionally raised £624,244 (before expenses) through the subscription for 12,004,703 new ordinary shares of 1p each in the Company (the "Subscription Shares") at a price of 5.2 pence per Subscription Share (the "Subscription"). The Subscription price represents a 73.3 per cent. premium to the Company's closing mid market price of 3.0 pence on 18 July 2014, being the latest practicable business day prior to this announcement. The Subscription Shares will represent 17.5 per cent. of the enlarged issued share capital of the Company.

The net proceeds of the Subscription will be used to satisfy the Company's existing order book and for general working capital purposes. The Subscription is conditional only upon Admission and has been carried out within the Company's existing share authorities.

Application has been made for admission of the 12,004,703 Subscription Shares to trading on AIM ("Admission") and it is anticipated that Admission will occur on or around 25 July 2014.

Following Admission the total enlarged issued share capital of SerVision will be 68,621,185* ordinary shares of 1p each. This 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 FCA's Disclosure and Transparency Rules.

Gidon Tahan, Chairman and CEO of SerVision, commented, "I am pleased to raise further funding from a small group of investors at a premium to the current prevailing share price. This funding will provide the company with further working capital to fulfil its order book. After a difficult 2013 I am encouraged by our prospects for the remainder of 2014 as evidenced by our existing pipeline and our recently announced distribution agreements for the distribution of our video gateway products into China, the United States and Canada."

-ends-

*Please note there was an error in the announcements of 1 February 2013 and 28 February 2013 whereby 1,250,000 ordinary shares of 1p each in the Company (which were issued and admitted to trading on AIM on 6 April 2011) were excluded from the enlarged issued share capital figures in these announcements. The figures in the announcements of 1 February 2013 and 28 February 2013 regarding the issued share capital should have been 56,518,921 (and not 55,268,921) and 56,616,482 (and not 55,366,482).