Wynnstay Regulatory News (WYN)

14 Nov 2007 07:00

Wynnstay Group PLC14 November 2007 WYN.L Wynnstay Group plc ("Wynnstay" or the "Group") Placing of 493,000 new ordinary shares of 25p each at a placing price of 260p per share Wynnstay, the Wales based manufacturer and supplier of agricultural products and services, is pleased to announce that it has today, through Shore Capital Stockbrokers Limited, arranged the placing of 493,000 new ordinary shares at a placing price of 260p with institutional investors, raising approximately £1.28 million before expenses for the Group. The placing was arranged as a result of significant institutional interest in Wynnstay's agricultural businesses and fully utilises Wynnstay's existing authorities to issue new ordinary shares for cash. The new ordinary shares will rank pari passu in all respects with the existing ordinary shares and their admission to trading on AIM is expected to take place on 19 November 2007. The proceeds from the placing will be used to fund the Group's strategy of growth organically and by acquisition. Mr Bernard Harris, Managing Director of Wynnstay, said: "We are delighted with the strong interest we have had in our business from a number of blue chip institutions and we very much welcome our new shareholders." For more information please contact: Bernard Harris, Wynnstay Group plc Tel: 01691 828 512Guy Peters, Shore Capital Tel: 020 7408 4090David Youngman, WH Ireland Tel: 0161 832 2174Katie Tzouliadis, Biddicks Tel: 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange