SQS Software Quality Systems AG Regulatory News (SQS)

23 Mar 2007 07:01

SQS Software Quality Systems AG23 March 2007 SQS Software Quality Systems AG23 March 2007 SQS Software Quality Systems AG ("SQS" or the "Company") Issue of Equity Software Quality Systems AG, the leading independent pan-European provider of quality management and testing services for software development, is pleased to announce the successful completion of a conditional placing of new ordinary shares in the Company. The Company has raised £3,285,000 (before expenses), through a conditional placing of 1,500,000 new ordinary shares of €1 each ("Ordinary Shares") at a price of 219 pence per share with institutional investors (the "Placing"). Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 5 April 2007. The proceeds raised from the Placing will be used to finance organic investment and facilitate future acquisitions, in line with the Company's strategy to strengthen its position in a number of key European markets. Following completion of the Placing, SQS will have 18,690,823 Ordinary Shares in issue. Rudolf van Megen, commenting on the Placing, said: "We are extremely happy with the institutional support for the Placing, which will widen our current shareholder base and enable the Company to be more flexible when future opportunities arise. I believe this Placing will enable us to take advantage of our strong new business pipeline and to continue our acquisitive and organic growth." For further information please contact: SQS Software Quality Systems AG www.sqs.de or www.sqs-uk.comRudolf van Megen (CEO) / Rene Gawron (CFO) +49 (2203) 91 54 50 Altium 020 7484 4040Nick Tulloch / James Brown Smithfield 020 7360 4900Reg Hoare / Tania Wild This information is provided by RNS The company news service from the London Stock Exchange