APN Appian

RNS Number:2936J
Appian Technology PLC
06 December 2007

      Appian Technology plc - Ticker: APN / Index: AIM/ Sector: Electronic

               Appian Technology plc ("Appian" or the "Company")

                          Placing raises #1.5 million

Appian Technology plc, the AIM quoted provider of Automatic Number Plate
Recognition ("ANPR") and traffic management products and solutions, is pleased
to announce that it has conditionally raised approximately #1.5 million through
the placing of 36,913,700 new ordinary shares of 1p each (the "Placing Shares")
at 4p per share (the "Placing Price") with existing and new institutional
investors, as well as certain directors of the Company (the "Placing"). The net
proceeds of the Placing will be used for general working capital purposes.

Appian Chairman Pat Ryan said, "The Company's pipeline of business is at an all
time high. We believe that this fundraising places the Company on a firm
financial footing and should see the Company through to profitability. Appian is
now a recognised international brand in ANPR and traffic management. Our ANPR
engine is a leading edge technology, which has been installed and trialled
successfully in numerous countries and been customised for many international
markets.

"The Company's addressable markets are expanding, showing strong potential
growth in the UK and internationally. Following an intensive development
programme over the last 12 months, we now have a wider product portfolio,
including both fixed site (Cobra, Stinger) and mobile (Viper and M Shark)
applications. Management has been reorganised so that, following this
fundraising, I believe that the Company is well positioned to capitalise on the
significant opportunities that exist in its sector. Furthermore, I am pleased 
to announce that the Company has commenced the search for a non-executive
Chairman."

As a result of a reorganisation during the year of the roles of staff of Genesis
(UK) Limited ("Genesis"), it was agreed that any additional consideration for
the year ending 31 December 2007 payable in respect of the earn-out for the
acquisition of Genesis would be based on profit before tax of #440,000, less
adjustments relating principally to any costs and provisions in connection with
the road user charging contract in Malta, and the amount of, and margin on,
sales orders between 1 April and 31 December 2007. No additional consideration
was due or paid in respect of the earn-out for the acquisition of Genesis for
the year ended 31 December 2006.

Further to its announcement of 27 September that trading in the financial year
ended 30 September 2007 would be below market expectations, the Company
announces that turnover for the financial year ended 30 September 2007 is
expected to be approximately #4.9 million with an estimated pre-tax loss of
approximately #2 million before any final adjustments.

As previously announced, significant progress had been made during the year in
product and market development, and the Company still has a strong pipeline of
new business prospects. However, the timing of the receipt of a number of
substantial orders, which had been expected to be secured in the second half of
the year, had slipped. These potential orders, signing of which has been
delayed, remain live and there are a number of significant orders that the
Company believes it is close to securing. The Company intends to provide a
further update on trading and outlook at the time of its preliminary results for
the financial year ended 30 September 2007 in February 2008.

The Placing is conditional, inter alia, on the admission of the Placing Shares
to AIM becoming effective ("Admission"). The Placing Shares, which will
represent approximately 20.0% of the Enlarged Share Capital, will rank pari
passu in all respects with the existing ordinary shares of 1p each in the share
capital of the Company (the "Ordinary Shares"), including the right to receive
all dividends and other distributions declared following Admission. Application
has been made to London Stock Exchange plc for the admission to trading on AIM
of the Placing Shares and dealings are expected to commence therein at 8.00 a.m.
on 10 December 2007. Following Admission, the Company's issued share capital 
will comprise of 184,768,695 Ordinary Shares (the "Enlarged Share Capital").

As part of the Placing, certain directors of the Company have agreed to
subscribe for 2,750,000 Placing Shares, in aggregate at the Placing Price,
representing approximately 7.4 per cent. of the Placing Shares. Pat Ryan,
Executive Chairman, has subscribed for 2,250,000 Placing Shares and Peter Coyle
has subscribed for 500,000 Placing Shares, all at the Placing Price. On
completion of the Placing, Pat Ryan will hold 7,275,619 Ordinary Shares,
representing approximately 3.9 per cent. of the Enlarged Share Capital and Peter
Coyle will hold 1,330,400 Ordinary Shares, representing approximately 0.7 per
cent. of the Enlarged Share Capital.


                                  * * ENDS * *

For further information please visit www.appian-tech.com or contact:

Pat Ryan           Appian Technology plc                 Tel: 01628 554750
Hugo de Salis      St Brides Media and Finance Ltd       Tel: 020 7242 4477
Tom Griffiths      Arbuthnot Securities                  Tel: 020 7012 2000

Notes to Editors

Appian Technology Plc is a leading provider of Automated Number Plate
Recognition (ANPR) based enforcement, crime reduction, counter terrorism (CT)
and traffic management systems and products. It provides these products to a
diverse growing global market, helping governments, local authorities, national
and international police forces and commercial organisations in all aspects of
security, surveillance and traffic management.

Appian's key products include its world leading Talon ANPR software as well as
the recently launched range of Cobra ANPR cameras. The Company has an active R&D
department, which continues to develop and customise new products for the global
markets.

Arbuthnot Securities Limited ("Arbuthnot"), which is authorised and regulated in
the United Kingdom by the Financial Services Authority, is acting as nominated
adviser and broker exclusively for the Company and for noone else in connection
with the Placing will not be responsible to any person other than the Company
for providing the protections afforded to its customers or for advising any
other person on the Placing.

The duties and responsibilities of Arbuthnot as the Company's nominated adviser
under the AIM Rules for nominated advisers are owed solely to London Stock
Exchange and are not owed to the Company or to any Director or Shareholder of
the Company or anyone else. Arbuthnot is not making any representation or
warranty, express or implied, as to the contents of this announcement.





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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