Issue of Equity

14 Feb 2007 07:01

CORSIE GROUP PLC ISSUE OF EQUITY

The Board of Corsie Group plc (the "Company") announces that it has placed 25,000,000 new ordinary shares at a price of 2 pence per share, raising ‚£ 500,000 before expenses. The proceeds of the placing will be used to provide the Company with additional working capital resources and allow it to increase its order intake.

Subsequent to the placing referred to above the newly enlarged issued share capital of the Company will be 192,416,664 ordinary shares of 0.1 pence.

Application has been made for the 25,000,000 new Ordinary Shares of 0.1p each in the Company to be admitted to trading on AIM and it is anticipated that such admission will become effective and that dealings in the new ordinary shares will start on 19 February 2007.