Remote Monitored Systems PLC Placing to raise GBP265,000 and Total Voting Rights (7336S)
13 Luglio 2020 - 8:00AM
UK Regulatory
TIDMRMS
RNS Number : 7336S
Remote Monitored Systems PLC
13 July 2020
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
13 July 2020
Remote Monitored Systems plc ("Remote Monitored Systems", the
"Company" or the "Group")
Placing to raise GBP265,000 and Total Voting Rights
Remote Monitored Systems plc, the AIM quoted monitoring,
intelligence and security company, is pleased to announce the
successful completion of a placing (the "Placing"), arranged by
Peterhouse Capital Limited, to raise GBP265,000 to support the
continuing growth of GyroMetric Limited ("GyroMetric") and
Cloudveil Limited ("Cloudveil"), and to provide working capital for
the Group.
Placing
A total of 106,000,000 ordinary shares of 0.2p nominal value
each ("Placing Shares") have been placed with investors at 0.25p
per share ("Placing Price"), a premium of 11.11% of the closing
mid--market price on 10 July 2020. Admission of these new shares to
AIM is expected to occur on or around 17 July 2020.
In addition to the Placing Shares, the Company is issuing a
further 6,950,000 new ordinary shares, also at the Placing Price,
in settlement of certain professional fees due through to 10 July
2020 (the "Fee Shares").
Braveheart participation in the Placing
As part of the Placing, Braveheart Investment Group plc
("Braveheart") has subscribed GBP200,000 for 80,000,000 shares.
Following the issue of the Placing Shares, Braveheart will have a
beneficial interest in 199,637,590 Shares representing
approximately 25.79% of the enlarged issued share capital and total
voting rights of the Company.
Related Party Transaction
Braveheart, as a substantial shareholder of the Company, is
considered to be a "related party" as defined under the AIM Rules
and accordingly, its participation in the Placing constitutes a
related party transaction for the purposes of Rule 13 of the AIM
Rules.
The Directors independent of the Placing, being Paul Ryan
(Non--Executive Chairman) and John Richardson (Chief Operating
Officer) consider, having consulted with the Company's nominated
adviser, that the terms of Braveheart's participation in the
Placing are fair and reasonable insofar as the Company's
shareholders are concerned.
Total Voting Rights
Following the issue of the Placing Shares and Fee Shares as
described above totalling 112,950,000 ordinary shares, the issued
share capital of the Company will consist of 774,006,790 ordinary
shares. No shares were held in treasury at the date of this
announcement. The total voting rights in the Company will therefore
be 774,006,790.
The above figure of 774,006,790 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
a change in their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
Trevor Brown, Executive Director of Remote Monitored Systems
plc, commented "The significant participation of Braveheart, our
largest investor, will ensure that the Company has sufficient funds
available not only to promote the continuing growth of GyroMetric
and Cloudveil, but more importantly, to pursue a number of
interesting opportunities that the Directors have identified."
ENQUIRIES :
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Paul Ryan (Non-Executive Chairman) +32 475 754 148
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint Broker
Lucy Williams
Duncan Vasey
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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