CUS Customvis

 

TIDMCUS 
 
RNS Number : 1962A 
CustomVis plc 
05 October 2009 
 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN THE UNITED STATES, CANADA, THE 
REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, ISRAEL, JAPAN OR AUSTRALIA, 
OR THEIR RESPECTIVE TERRITORIES OR POSSESSIONS 
 
 
For the attention of residents of Australia. This document is not a disclosure 
document under Chapter 6D of the Corporations Act 2001 (Cth) (the "Australian 
Corporations Act"), has not been lodged with the Australian Securities and 
Investments Commission and does not purport to include the information required 
of a disclosure document under the Australian Corporations Act. 
 
 
The Placing pursuant to this document is only made to persons to whom it is 
lawful to offer Ordinary Shares without disclosure to investors under Chapter 6D 
of the Australian Corporations Act under one or more exemptions set out in 
Section 708 of the Australian Corporations Act. 
 
 
 
 
 
 
 
 
5 October 2009 
 
 
CustomVis plc 
("CustomVis" or "the Group") 
 
 
Placing of 23,030,000 new Ordinary Shares at 1.3 pence per share 
 
 
The Company announces that it has placed 23,030,000new ordinary shares 
("Ordinary Shares") ("the Placing Shares") at 1.3p per Placing Share (the 
"Placing Price") with institutional and other investors ("the Placing") to raise 
GBP299,390.00 subject only to Admission. 
 
 
Background to and reasons for the Placing 
The Placing Price represents a discount of approximately 20 per cent. to the 
closing mid-market price of an Ordinary Share on 2 October 2009. However, 
shareholders should be aware that the Placing Price was agreed in principle with 
the largest placees in early September 2009, at which time the Placing Price was 
equivalent to the mid-market share price. 
 
 
The net proceeds of the Placing, which amount to approximately GBP299,390 will 
allow the Company to place further effort in expanding sales into Europe 
building on the recent strong interest shown at the ESCRS Exhibition in 
Barcelona. The Company anticipates appointing a European Sales Representative 
with support for marketing initiatives. The net proceeds will allow the payment 
of certain creditors and provide general working capital. 
 
 
It is the Board's view that a placing is the most appropriate means of providing 
additional working capital for the Company. The cost of funds raised through the 
Placing will be substantially less than those for an open offer or rights issue 
to Shareholders. These alternatives would have required the publication of a 
prospectus, which would have delayed the fund raising and would also have cost 
the Company a significantly higher percentage of the funds being raised. 
 
 The Placing 
Under the Placing the Company has received offers for subscription relating 
to 23,030,000 Ordinary Shares at the Placing Price to raise GBP299,390, before 
and after expenses, for the benefit of the Company. 
 
 
The Placing has been supported by the Company's largest shareholder, Hawk 
Investment Holdings Limited, and following admission of the Placing Shares Hawk 
Investment Holdings Limited will hold 45,300,700 ordinary shares in the issued 
share capital of CustomVis, equivalent to 23.53 per cent. of the enlarged issued 
voting share capital of the Company. 
 
 
The Placing is conditional upon Admission. The Placing Shares, when issued and 
fully paid, will rank equally in all respects with the Ordinary Shares, 
including the right to receive all dividends and other distributions declared, 
made or paid after Admission. 
 
 
In addition, the Company has agreed to issue 328,290 Ordinary Shares in 
satisfaction of fees due in connection with the Placing, conditional upon the 
Placing becoming unconditional in all respects. 
 
 
Application has been made to the London Stock Exchange for the admission to 
trading on the AIM market of 23,358,290 Ordinary Shares.  It is expected that 
Admission will become effective and dealings in such shares will commence on 9 
October 2009. 
 
 
Following the admission of the above shares, the Company will have 
192,524,139 Ordinary Shares in issue. 
 
 
 
 
Further information: 
 
 
+------------------------------------+------------------------------------+ 
| CustomVis plc                      |                    +61 419 304 906 | 
| Simon Carroll, Chairman            |                    +61 410 497 456 | 
| Paul van Saarloos, CEO             |                                    | 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
| John East & Partners Limited       |                      020 7628 2200 | 
| David Worlidge/Simon Clements      |                                    | 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
| Leander PR                         |                      07795 168 157 | 
| Christian Taylor-Wilkinson         |                                    | 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEMIBLTMMIMBIL 
 

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