BGT Bright Things

 

TIDMBGT 
 
RNS Number : 0491Q 
Bright Things plc 
03 April 2009 
 

 
 
 
 
Bright Things plc 
("Bright Things" or the "Company") 
 
 
Issue of Equity 
 
 
 
The Directors of Bright Things plc are pleased to announce that the Company has 
raised GBP750,500 (before expenses) through the placing of 60,040,000 new 
ordinary shares of 1 penny each in the capital of the Company ("Ordinary 
Shares") at 1.25 pence per share ("Placing Price") (the "Placing"). 
 
 
Details of the Placing 
Pursuant to the powers granted to the Directors at the Extraordinary General 
Meeting of the Company, held on 30 March 2009, the 60,040,000 new Ordinary 
Shares ("Placing Shares") have been conditionally placed by HB Corporate with 
investors and Directors at a price of 1.25p per share to raise GBP750,500 
(before expenses). The Placing Shares will represent approximately 30.68 per 
cent. of the Company's enlarged issued share capital following completion of the 
Placing. 
 
 
The purpose of the funds raised is to provide additional working capital for the 
Company as it looks to expand the reach and potential market for its SocialGO 
product. Additionally, it will be used to recruit sales and marketing personnel 
as well as improving the back office and server capabilities. 
 
 
The Placing shares will, when issued and fully paid, rank pari passu in all 
respects with the existing issued Ordinary Shares. Application has been made for 
the Placing Shares to be admitted to AIM. The Placing is conditional, inter 
alia, on the admission of the Placing Shares to AIM becoming effective 
("Admission"), which is expected to occur on 8 April 2009, when dealings in the 
Placing Shares are expected to commence. 
 
 
Following Admission the Company will have 195,716,328 Ordinary Shares in issue. 
 
 
Director Dealing 
Dominic Wheatley (Chief Executive), Charles Delamain, Ian 
Livingstone  (Chairman) and Edward Levey have subscribed for the following 
number of Placing Shares pursuant to the Placing: 
 
 
+-------------------------+-------------------------+-------------------------+ 
| Director                | Number of Placing       | % of total Placing      | 
|                         | shares                  | shares                  | 
+-------------------------+-------------------------+-------------------------+ 
| Dominic Wheatley        | 4,000,000               | 6.66                    | 
+-------------------------+-------------------------+-------------------------+ 
| Ian Livingstone         | 2,800,000               | 4.66                    | 
+-------------------------+-------------------------+-------------------------+ 
| Charles Delamain        | 8,000,000               | 13.32                   | 
+-------------------------+-------------------------+-------------------------+ 
| Edward Levey            | 240,000                 | 0.4                     | 
+-------------------------+-------------------------+-------------------------+ 
 
 
Immediately following Admission, the Directors will hold interests in the issued 
ordinary share capital of the Company as follows: 
 
 
+-------------------------+-------------------------+-------------------------+ 
| Director                | Total Number of shares  | % of total issued       | 
|                         | in the Company          | ordinary share capital  | 
+-------------------------+-------------------------+-------------------------+ 
| Dominic Wheatley        | 28,205,102              | 14.41                   | 
+-------------------------+-------------------------+-------------------------+ 
| Ian Livingstone         | 8,105,556               | 4.14                    | 
+-------------------------+-------------------------+-------------------------+ 
| Charles Delamain        | 12,000,000              | 6.13                    | 
+-------------------------+-------------------------+-------------------------+ 
| Edward Levey            | 240,000                 | 0.12                    | 
+-------------------------+-------------------------+-------------------------+ 
 
 
 
 
The issue of Placing Shares to these Directors is classified as a transaction 
with a related party for the purposes of the AIM Rules. In accordance with the 
AIM Rules, the Company's Nominated Adviser, HB Corporate, and Matthew Tims, as 
independent director in respect of this transaction (having consulted with HB 
Corporate) considers that the terms of the Placing are fair and reasonable 
insofar as the Company's shareholders are concerned. 
 
 
For further information please contact: 
 
 
 
 
Bright Things PLC 0845 299 7289 
Dominic Wheatley, CEO 
Edward Levey, Finance Director 
 
 
HB Corporate                                                     020 7510 8600 
Luke Cairns/ Rory Creedon 
 
 
Threadneedle Communications020 7653 9850 
 Graham Herring 
 Alex White 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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