Placing and Change of Broker

17 Jan 2007 11:16

Intellego Holdings PLC17 January 2007 For immediate release 17 January 2007 Intellego Holdings plc ("Intellego") Placing Appointment of Broker Directors' Dealings Placing The Company has completed a placing of 21,400,000 Intellego new ordinary sharesof 0.5p ("Shares") at price of 1.25p per Share to raise cash of £267,500. Thefunds raised will be used to continue developing the Company's existing businessand to enable it to progress a number of acquisition opportunities. A number of directors have agreed to subscribe for Shares at 1.25p as part ofthe placing: Angus Forrest who will be subscribing for 600,000 Shares (£7,500);Ranjit Roy-Choudhuri who will be subscribing for 400,000 Shares ( £5,000) andBi-Golf Limited, a company owned and controlled by Mike Couzens, which will besubscribing for 400,000 Shares (£5,000). The Shares will be issued in two tranches: application is being made to have thefirst tranche of 10,700,000 shares admitted to trading on AIM and trading isexpected to commence in these shares on 22 January 2007. These new shares willrank pari passu with the Company's existing shares. The issue of the secondtranche, which consists of 10,700,000 shares, is conditional on shareholderconsent, and a notice convening an extraordinary general meeting to give thedirectors the authority to issue these shares will be sent to shareholdersshortly. Following the issue of the first tranche of shares, which includes the shares tobe issued to the Directors as set out above, the Directors' holdings will be asfollows: Number of Shares Percentage of issued Share Capital Mike Couzens 795,294 1.09% Angus Forrest 1,070,588 1.48% Ranjit Roy-Choudhuri 560,000 0.77% Change of Broker The Company is pleased to announce that it has appointed Ellis StockbrokersLimited as its broker with immediate effect. For further information: Intellego Holdings plc - Ranjit Roy-Choudhuri 0870 428 1250 This information is provided by RNS The company news service from the London Stock Exchange