Placing

28 Nov 2005 07:00

2 ergo Group plc28 November 2005 Embargoed until: 07.00 28 November 2005 2ergo Group Plc ("2ergo" or "the Group") PLACING OF 882,353 NEW ORDINARY SHARES AT 170 PENCE PER SHARE 2ergo Group plc, the AIM listed provider of convergent mobile communicationsolutions, announces that it has raised approximately £1.4 million net ofexpenses by way of a Placing of 882,353 new Ordinary Shares at a price of 170pence per Ordinary Share. 2ergo raised £3 million, before expenses, at its flotation in March 2004 and hassubsequently delivered high levels of growth since listing on AIM. The Group hasexpanded into a number of new areas including a carefully managed move into theUS and has recently upgraded its Multiserve Platform, significantly increasingcapacity. The proceeds of the Placing will be used to develop the mobile security protocolwhich it acquired IP rights for in September. Branded as 2safeguard, thistechnology can be used to provide the highest levels of data security for anymobile transaction, whether person-to-person or person-to-machine. Commenting on the fundraising, Barry Sharples, Joint Managing Director of 2ergoGroup said: "The proceeds of the flotation have been well utilised and ourinvestor support remains extremely strong. This latest fundraising willfacilitate the continued rapid growth we have experienced to date by providing2ergo with the opportunity to capitalise on the 2safeguard acquisition andplacing the Group in a good position to expand both organically and via furtheracquisition." -ends- For further information, please contact: 2ergo Group Plc 01706 221777Neale Graham, Joint Managing DirectorBarry Sharples, Joint Managing Director Tavistock Communications 020 7920 3150Christian Taylor-WilkinsonMatt Ridsdale Numis Securities 020 7776 1500David PoutneyStuart Skinner Notes to Editors: About 2ergo group plc2ergo group plc facilitates communication and interaction between companies andtheir staff or customers using Mobile Internet, SMS, MMS, Web and VoiceApplications. Headquartered in Lancashire UK, with subsidiary offices in NewYork USA, the Company listed on AIM on 11 March 2004. This information is provided by RNS The company news service from the London Stock Exchange