Vipera Regulatory News (VIP)

16 Jan 2008 16:45

Energy Asset Management PLC16 January 2008 16 January 2008 ENERGY ASSET MANAGEMENT PLC ('EAM' or 'the Company') ISSUE OF EQUITY Further to the trading statement made on 7 December 2007, the Company is pleased to advise that it has today allotted a total of 54,000,000 new ordinaryshares at 1pence per share (the 'Placing') to raise gross proceeds of £540,000 In anticipation of the accelerated growth the Company has decided to expand itsIT infrastructure to facilitate the use of a "hand held" works managementsystem by field operatives in order to further improve efficiency andeffectiveness.The proceeds will be used to implement this IT infrastructure andfor general working capital purposes. The placing has been personally supportedby the Company Directors as detailed below. The new ordinary shares rank pari passu with all existing ordinary shares andapplication has been made for the new ordinary shares to be admitted to AIM with trading expected to commence on 22 January 2008. The following group directors have subscribed for shares in the Placing: Number of shares Amount Percentage subscribed subscribed of ordinary shares following £ PlacingEnergy Asset Management Plc Stephen Barclay 2,500,000 25,000 5.6%Chairman John Shaw 1,000,000 10,000 3.0%Non-executive Director John Butler 3,000,000 30,000 2.6%Finance Director Energy Assets Limited (wholly owned subsidiary of EAM) Gary Rimmer 2,500,000 25,000 3.9%Non-executive Director Robert Hatton 1,200,000 12,000 3.8%Business Development Director Following the Placing the total number of ordinary shares in issue will be332,768,383. For further information, please contact: Stephen Barclay, Non-executive chairman07767 444114 Alan McKeating, Managing Director07843 231372 Gavin Burnell, Ruegg & Co Limited0207 584 3663 This information is provided by RNS The company news service from the London Stock Exchange EN