TIDMSCO

RNS Number : 2699N

Scotty Group SE

27 September 2012

27 September 2012

SCOTTY Group SE

("SCOTTY" or the "Company")

Issue of Equity, Directors' Shareholdings and Related Party Transactions

Issue of Equity

SCOTTY announced on 7 September 2012 that it was seeking to raise a minimum of Euros 350,000 at a price of between Euro 1 and Euro 1.2 per share and that directors and related parties had indicated their willingness in principle to provide the minimum funds. SCOTTY is pleased to announce that it has received applications for 484,820 new ordinary shares of Euro 1 each in the Company (the "New Ordinary Shares"), at a price of Euro 1 per share, representing a premium of 21 per cent. over the mid-market price of the Company's shares at the close of business on the day prior to the issue of equity of Euro 0.825.

The New Ordinary Shares will, when issued, rank pari passu with the existing ordinary shares of the Company. Application has been made for the shares to be registered in the Austrian companies register. Following this registration, application will then be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. A further announcement will be made in due course once application has made to the London Stock Exchange.

Following the issue of the New Ordinary Shares, the issued share capital of the Company will comprise 1,454,460 ordinary shares of 1 Euro each.

Directors' Shareholdings

Steirischer Technologie und Wachstumsfonds Beteiligungs AG ("STWB") has invested Euros 302,320 by subscribing for 302,320 New Ordinary Shares. Dr Ernst Wustinger, a Director of the Company, owns 45 per cent. and controls 54 per cent. of the issued share capital of STWB. Following the subscription, Dr Wustinger has a beneficial interest in 533,578 ordinary shares in the Company, representing 36.7 per cent. of the Company's enlarged issued share capital.

Kurt Kerschat, who is Chief Executive of the Company, has invested Euros 42,500 by subscribing for 42,500 New Ordinary Shares. Following the subscription, Kurt Kerschat has a beneficial interest in 71,350 ordinary shares in the Company, representing 4.9 per cent. of the Company's enlarged issued share capital.

Hans Peter Sauerzopf, a Director of the Company, has invested Euros 30,000 by subscribing for 30,000 New Ordinary Shares. Following the subscription Hans Peter Sauerzopf has a beneficial interest in 54,021 ordinary shares in the Company, representing 3.7 per cent. of the Company's enlarged issued share capital.

Other related parties

Walter Mueller, a director of SCOTTY Group Austria GmbH, a subsidiary of the Company, has invested Euros 30,000 by subscribing for 30,000 New Ordinary Shares. Following the subscription Walter Mueller has a beneficial interest in 58,850 ordinary shares in the Company, representing 4.0 per cent. of the Company's enlarged issued share capital.

Related Party Transactions

The above subscriptions by Messrs Wustinger, Kerschat, Sauerzopf and Mueller are related party transactions as defined in the AIM Rules for Companies. Bryan Smart and Hugh Edmonds, being independent directors, consider, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.

 
 SCOTTY Group plc 
  Kurt Kerschat, CEO                +43 316 409 426 
 Nominated Adviser 
  Cairn Financial Advisers LLP 
  Tony Rawlinson / Avi Robinson    +44 20 7148 7900 
 Broker 
  Northland Capital Partners 
  Limited 
  John Howes                       +44 20 7796 8800

This information is provided by RNS

The company news service from the London Stock Exchange

END

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