YGEN.L Regulatory News (YGEN)

19 Jun 2007 07:01

ViaLogy PLC19 June 2007 ViaLogy Plc ("ViaLogy" or "the Company") Placing of £4.4 million ViaLogy (AIM: VIY), a leading innovator of network-centric, real time signalprocessing platforms for sensor applications, today announces that it hasraised £4.4 million (before expenses) through the placing by Seymour Pierce of55,000,000 new ordinary shares, with certain existing shareholders and newinstitutional shareholders, at 8 pence per share. The Placing will also, subject to shareholder approval at the 2007 AGM of theCompany, comprise the issue of 27,500,000 warrants. Each placee will receive onewarrant for every two new ordinary shares. Each warrant will entitle the holderthereof to subscribe for one ordinary share of 1p each at 10p per share at anytime following approval at the 2007 AGM of the Company, until two yearsthereafter. The warrants will not be admitted to trading on the AIM market andno application is intended to be made for their admission to trading on anyother market. The proceeds from the fund raising will be used to finance the establishment ofa sales and marketing program to retail the company's new products. Application has been made for the 55,000,000 new ordinary shares to be admittedto AIM ("Admission") and Admission is expected to occur on 21 June 2007. Terry Bond, Chairman of ViaLogy, commented: "This autumn the company will belaunching the first of a series of three significant ViaLogy products based.onour unique and patented technology. We are anticipating worldwide demand for theproducts from the defense, construction and oil and gas industries. The fundingwill be used to scale our sales operations This will begin the transition ofViaLogy from a research and development operation to a commercial business." For further information, please contact: ViaLogy Shah Talukder, CEO - US +1 626-296-6337Terry Bond, Chairman - UK & Europe +44 (0)20 2869 7014 Redleaf CommunicationsEmma Kane / Samantha Robbins +44 (0)20 7822 0200 Seymour Pierce Limited (NOMAD)Mark Percy / Liam O'Donoghue +44 (0)20 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange