Water Intel. Regulatory News (WATR)

25 Jul 2006 15:30

Qonnectis plc25 July 2006 QONNECTIS PLC PLACING and ISSUE OF OPTIONS The Board of Qonnectis plc ("Qonnectis" or "the Company"), the energy and waterconservation IT service provider, is pleased to announce that the Company hasplaced, subject to certain conditions, 61,200,000 new Ordinary 1p shares at 1pper share ("the Placing") with investors. The placing, which was arranged by HB Corporate, will raise gross proceeds of£612,000 to provide additional working capital for the Qonnectis business.Application has been made to the London Stock Exchange for the new Ordinaryshares, which will rank pari passu with the existing shares, to be admitted totrading on AIM and it is expected this will become effective on 31 July 2006 Michael Tapia, Chief Executive and Percy Albuquerque, non-executive director,are respectively subscribing for 500,000 shares and 700,000 shares in theplacing at the placing price. Following the placing Michael Tapia will hold21,028,776 shares representing 9.62% of the Company and Percy Albuquerque willhold 700,000 shares representing 0.32% of the Company. In addition the Board of the Company has agreed to award the following optionsto Directors: Director Number of Options Exercise price Michael Tapia 1,000,000 1.5p 1,500,000 2.5p 2,000,000 4pPercy Albuquerque 11,500 1.5p 17,000 2.5p 23,000 4pRichard Taylor 74,000 1.5p 110,000 2.5p 150,000 4p The options are exercisable from the first anniversary of the Placing until 31July 2009. They are not part of any employees incentive scheme. For further information, please contact: Qonnectis plcMichael Tapia Tel: 020 8893 4766Chief Executive Bankside ConsultantsSue Scott / Michael Padley Tel: 020 7367 8888 HB CorporateEdward Hutton Tel: 020 7538 1166 This information is provided by RNS The company news service from the London Stock Exchange