Placing Disposal Appointment

30 Nov 2006 11:25

Adventis Group PLC30 November 2006 For immediate release 30TH November 2006 ADVENTIS GROUP PLC ("Adventis" or the "Company") Placing of new Ordinary Shares, Disposal of Treasury Shares and Appointment of Adviser Adventis Group plc (ATG.L), the AIM-listed full service marketing andadvertising services group, is pleased to announce a placing of 3,266,800 newOrdinary Shares of 0.25p per share at a price of 31.5 pence per new OrdinaryShare (the "Placing"), with Oceanwood Global Opportunities Master Fund, MorganStanley and an existing investor. The new Ordinary Shares issued pursuant to thePlacing have been placed at a discount of 4.5 per cent to the closing middlemarket price of an Adventis share on 29 November 2006, the business dayimmediately preceding this announcement, and have been issued subject only toadmission of the new shares to trading on AIM ("Admission") becoming effective.In addition, the Company has sold 325,000 ordinary shares of 0.25p each at 31.5pence per share (the "Disposal") which the Company bought in the market inJanuary 2006 and subsequently held as treasury shares. Together the Placing andthe Disposal will raise approximately £1.13 million, before expenses. The netproceeds will be used to strengthen further the Company's balance sheet and tofund the group's continuing acquisition programme. Application has been made for the 3,266,800 new Ordinary Shares to be admittedto trading on AIM and Admission and dealings are expected to commence onWednesday December 6th 2006. Following the Placing and the Disposal, the Company will hold no treasury sharesand will have 38,283,646 ordinary shares in issue. Adventis has also received notification that on November 30th 2006 SigmaTechnology Investments Limited ("STIL") sold 1,052,632 shares, representing 2.75per cent of the Company's enlarged issued capital, at 31.5p per share. NeilCrabb, a non executive director of Adventis, is deemed to be beneficiallyinterested in such shares as he is a substantial shareholder in, and directorof, the parent company of STIL, Sigma Capital Group plc ("Sigma"). These shareswere originally issued to Sigma as part of its role in assisting the Companyprior to flotation. Mr Crabb has separately today purchased 275,000 shares in the Company,representing 0.72 per cent of the Company's enlarged issued capital, in his ownname at a price of 31.5p per share, which represents his entire beneficialholding. The Company is pleased to announce that it has appointed Arbuthnot SecuritiesLimited as its Nominated Adviser and Broker with immediate effect. Charles Phillpot, Chief Executive of Adventis Group commented: "We are delighted to see this expansion in our investor base and are excited bythese new investors' endorsement of the Group's future prospects which enhancesour strong financial position. The placing puts Adventis on a strongerfinancial base from which to move forward and continue our successful programmeof eps enhancing acquisitions." ENDS For further information, please contact: Adventis Group plcCharles Phillpot, Chief Executive Tel: 020 7034 4750 www.adventis.co.uk Arbuthnot Securities Ltd Tom Griffiths Tel: 020 7012 2000 Adventis Financial PRPeter Binns Tel: 020 7034 4760 / 07768 392 582Chris Steele Tel: 020 7034 4759 / 07979 604 687 Editors' note: Oceanwood Capital Management LLP has invested on behalf of Oceanwood GlobalOpportunities Master Fund. It is an international investment group with officesin London and Boston. This information is provided by RNS The company news service from the London Stock Exchange