T42 Iot Track. Regulatory News (TRAC)

24 Aug 2007 12:32

Traction Technology PLC24 August 2007 FOR IMMEDIATE RELEASE 24 August 2007 Traction Technology PLC ("Traction" or the "Company") Share Placing The Company is pleased to announce that, in addition to the £245,000 raised on13 August 2007, it has raised an additional £15,000 by means of a placing of53,571 new Ordinary Shares of 3p each at a price of 28p per share. Applicationwill be made for the 53,571 new Ordinary Shares issued today to be admitted totrading on AIM which will rank pari passu with the existing Ordinary Shares. The funds raised through the placing will be used to further acceleratedevelopment of the tribrid engines as well as for general working capitalpurposes. ENDS For further information, please contact:Traction Technology PLCNicholas Brayshaw, ChairmanTel +44 (0) 1403 791392 Beaumont Cornish LimitedRoland CornishTel +44 (0) 20 7628 3396 Ambrian Partners LimitedTel +44 (0) 20 7776 6400Richard BrownShaun Whyte Parkgreen Communications Tel +44 (0) 20 7851 7480Lucy Lake This information is provided by RNS The company news service from the London Stock Exchange