15 Jun 2012 11:25
ViaLogy PLC ("ViaLogy" or "the Company")
Result of General Meeting
London, June 15, 2012. Further to the announcements of 21 May 2012 and 23 May 2012 ViaLogy PLC (AIM: VIY), a provider of reservoir characterization, geophysical imaging and hydrocarbon sizing services to global oil and gas Exploration and Production (E&P) companies based on proprietary, patented active signal processing technology, is pleased to announce that at a General Meeting of the Company held earlier today, all resolutions were duly passed.
The Company has raised £1,000,000 in a Placing of 36,363,637 new ordinary shares at 2.75p per share. Application has been made for the 36,363,637 new ordinary shares to be admitted to trading on AIM and it is expected that admission will become effective on or around 18 June 2012. Following admission, there will be a total of 926,606,911 ordinary shares of 1 penny each in the Company in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, ViaLogy under the FSA's Disclosure and Transparency Rules.
Capitalised terms used in this announcement are as defined in the circular to shareholders sent to shareholders 23 May 2012.
For further information:
ViaLogy PLC | ||
Terry Bond, Chairman - UK & Europe | +44 (0) 1235 834 734 | |
Seymour Pierce (Nominated Advisor and Broker) | +44 (0) 207 107 8000 | |
Mark Percy / Catherine Leftley (Corporate Finance ) | ||
Katie Ratner (Corporate Broking) |
About ViaLogy:
ViaLogy provides reservoir characterization, geophysical imaging and hydrocarbon sizing services to global oil and gas customers based on proprietary, patented active signal processing technology. ViaLogy's QuantumRD platform assists clients in de-risking prospects over a broad range of subsurface lithologies and complex stratigraphies to generate drilling targets, position offsets and enhance recovery.
ViaLogy's core technology rapidly and accurately detects weak signals buried in high noise background and clutter, and is applicable to active/passive seismic, electromagnetic and magneto telluric data. By exploiting normally disregarded noise variations induced by changes in porosity, fluid presence and permeability across the formation, and adding computer-designed noise to the data, ViaLogy is able to amplify subtle noise variations to enhance areal and depth resolution in complex lithologies that are not achievable through conventional means. For more information on ViaLogy, visit www.vialogy.com