Last checked at 23 Mar 2012 15:02
For release: 23 March 2012
REGULATORY ANNOUNCEMENT
Worldlink Group plc (WGP-L) (the "Company"), a listed company with patented technology covering the transmission and receiving of changing data on all mobile devices, is pleased to announce that it has raised approximately £350,000, before expenses, through the issue of 2,261,865 new ordinary shares of 1p each in the Company ("Ordinary Shares") at 15.5p per share, together with the conversion of certain debts and obligations owed by the Company into a further 17,155,859 new Ordinary Shares. The Company has today registered 19,417,724 new Ordinary Shares for admission to trading on the standard list of the London Stock Exchange. This issue of new shares increases the Ordinary Shares admitted to trading to 42,036,383.
These shares have been issued and allotted as follows;
1. 2,261,865 shares at an average price of 15.5 per share to provide additional working capital of approximately £350,000;
2. 15,701,430 new Ordinary Shares at a price of 17 per share to satisfy certain debts owed by the Company to present and past employees and directors of approximately £2.7m;
3. 161,095 new Ordinary Shares following the conversion of the convertible loan stock issued in April 2011 at a conversion price of 90p; and
4. 1,293,334 new Ordinary Shares to replace shares previously loaned to the Company by directors which were sold and the proceeds invested in the Company.
Pursuant to the issue of new Ordinary Shares set out above, the following directors' interest in the Company are:
Initial Shareholding | New Shares | New Shareholding | New Shareholding % | |
Neil Riches | 2,244,727 | 9,647,822 | 11,892,549 | 28.3% |
Crispin Burdett | 1,329,883 | 4,879,262 | 6,209,145 | 14.8% |
Anthony Fish | 1,420 | 1,196,971 | 1,198,391 | 2.9% |
Neil Riches commented, "We are delighted to announce that we have both raised new funds for the Company as well as convert a significant debt of £2.7m. The board regard this as a significant vote of confidence in the development of Worldlink. We have taken the opportunity to tidy up other outstanding matters at the same time putting ourselves on a sound footing to move forward with several exciting opportunities that we are currently working on and we will update shareholders in due course."
For further information please contact:
Neil Riches 01737 221 078
Managing Director
Worldlink Group Plc
Jon Belliss 020 7101 7070
XCAP Securities plc.
Broker
Mike Wort/Anna Dunphy 0207 556 1063/4
De Facto Financial
Notes to Editors
About Worldlink
Worldlink is one of the UK's leading real-time mobile applications companies with patented technology that allows information held on the mobile device to be updated automatically without the need for a manual refresh. Information is delivered via a mobile telecommunications network in real time, whilst intelligently minimising the bandwidth required to transmit the data. The technology is patent protected in the US and UK and is patent pending in Europe.
Worldlink has already licensed its patents to leading institutions in the financial and technology sectors and is furthering this process in the UK, Europe, and the US, where partnerships have already been put into place.
For more information about Worldlink and its businesses please visit www.worldlink-data.com.