Hardide PLC Completion of further fundraise (2332L)
29 Settembre 2016 - 2:59PM
UK Regulatory
TIDMHDD
RNS Number : 2332L
Hardide PLC
29 September 2016
Hardide plc
("Hardide" or "the Group" or "the Company")
Completion of further fundraise
Hardide (AIM: HDD), the provider of advanced surface coating
technology, is pleased to announce that further to the GBP0.53m
subscription announced on 09 August 2016 and the receipt of advance
assurance from Her Majesty's Revenue & Customs that the funds
raised will be eligible for EIS and VCT tax relief, it has
completed a further fundraise of GBP1.1 million before expenses, by
way of a subscription ("Subscription") of 134,214,500 new ordinary
shares of 0.1 pence each ("Ordinary Shares") (the "Subscription
Shares") at 0.8 pence per Subscription Share (the "Issue
Price").
The funds received by the Company pursuant to the Subscription
will be used to invest in a range of projects that the Board
believes will enhance shareholder value.
Application has been made for the Subscription Shares to be
admitted to trading on AIM and admission is expected to take place
on 05 October 2016 ("Admission"). The Subscription Shares will rank
pari passu with existing Ordinary Shares. Following Admission, the
issued share capital of the Company will be 1,534,906,304 Ordinary
Shares. The Company does not hold any ordinary shares in treasury.
Therefore the total number of ordinary shares and voting rights in
the Company is 1,534,906,304.
The above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or change to
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
The information in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU)
No. 596/2014.
For further information:
Hardide plc Tel: +44 (0) 1869 353 830
Philip Kirkham, CEO
Jackie Robinson, Communications
Manager
finnCap Tel: +44 (0)20 7220 0500
Stuart Andrews / Grant Bergman
/ James Thompson
Notes to editors:
www.hardide.com
Hardide develops, manufactures and applies advanced technology
tungsten-carbide coatings to a wide range of engineering
components. Its patented technology is unique in combining, in one
material, a mix of toughness and resistance to abrasion, erosion
and corrosion; together with the ability to coat accurately
interior surfaces and complex geometries. The material is proven to
offer dramatic improvements in component life, particularly when
applied to components that operate in very aggressive environments.
This results in cost savings through reduced downtime and increased
operational efficiency. Customers include leading companies
operating in oil and gas exploration and production, valve and pump
manufacturing, nuclear, advanced engineering and aerospace
industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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