Placing

22 Nov 2005 08:44

Croma Group PLC22 November 2005 22 NOVEMBER 2005 CROMA GROUP PLC ("Croma" or "the Group") PLACING TO RAISE £250,000 Croma, the specialists in the design, development and production of overt and covert surveillance, security and defence related products, announces today that it has placed 5,000,000 new ordinary shares, at 5p per share, to raise £250,000, with an existing institutional shareholder, as part of the funding for working capital and, furthermore, has agreed new banking terms in order to continue the development and expansion of the Group moving forward. Application has been made for the Admission of the 5,000,000 new ordinary sharesto trading on the AIM market. The new ordinary shares will rank pari passu withthe existing new ordinary shares of the Company, and dealing of the new ordinaryshares are expected to commence on 26 November 2005. The Board also informs investors that, following the Trading Statement on 27October 2005, good progress has been made regarding one of the two aforementioned acquisitions, and an announcement should be made shortly. ---ends--- Enquiries: Croma Group plcJohn French, Chairman & Chief Executive Mobile: 07836 722 482 Bishopsgate Communications Ltd. Tel: 020 7430 1600Dominic Barretto Mobile: 07930 450 156Maxine Barnes Mobile: 07860 489 571 Notes to Editors: ABOUT CROMAListed on the AIM market of the London Stock Exchange, Croma Group plc, the specialists in the design, development, production and marketing of overt and covert surveillance and defence related products, comprises of three divisions; namely Croma Defence Systems Ltd, Shawley (a division of Croma Defence) and R&D Design Services Ltd. CURRENT PORTFOLIO OF SOLUTIONSAs both governments and private bodies bear responsibility for the protection ofindividuals and the community as a whole, safety and security is increasinglytaking a high priority. Croma Group continues to provide innovative and qualitysolutions to meet this escalating demand with their existing surveillance &counter surveillance products, systems and services. The Group's current product portfolio includes: •The King IPT 765 •WASP •Long Range Surveillance Lenses •Zeus Tactical Light •Skorpion Ground Senses •Laser Marksman Training Systems •Computer Surveillance •Low Light Cameras •Rapid Deployment Kit This information is provided by RNS The company news service from the London Stock Exchange