TIDMTEK
RNS Number : 2422V
Tekcapital plc
26 January 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
26 January 2017
Tekcapital plc
("Tekcapital" or the "Company")
Results of proposed placing to raise GBP2.4m
Further to the announcement made earlier today, Tekcapital plc
(AIM: TEK), the international provider of technology and
intellectual property services, is pleased to announce the
completion of a placing of 6,968,500 new ordinary shares of 0.4p
each in the Company (the "Placing Shares") at a price of 35 pence
per Placing Share (the "Placing Price") to raise a total of
GBP2,438,975 (before expenses) (the "Placing"). The Placing is
subject to admission of the Placing Shares to trading on AIM
("Admission"). Application has been made for the Placing Shares to
be admitted to trading on AIM and it is expected that Admission
will take place on 31 January 2017. The Placing was
oversubscribed.
The Placing Price represents a discount of approximately 2.8 per
cent. to the closing middle market price of an ordinary share of 36
pence on 25 January 2017, being the latest practicable closing
middle market price prior to the announcement of the Company's
intention to perform the Placing.
The Placing Shares will represent, in aggregate, approximately
16.4 per cent. of the Company's issued ordinary share capital as
enlarged by the issue of the Placing Shares. The Placing was
conducted within the Company's existing share allotment
authorities. The Placing Shares, when duly issued and fully paid,
will rank pari passu in all respects with the Company's existing
ordinary shares. The Placing has not been underwritten.
Further details regarding the background to the Placing and the
use of the Placing proceeds can be found in the Company's
announcement made earlier today.
Nigel Wray has participated in the Placing and agreed to
subscribe for 1,024,500 Placing Shares at the Placing Price. Mr
Wray's participation in the Placing is a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies, due to him
currently being a substantial shareholder pursuant to the AIM Rules
for Companies. The Directors of Tekcapital, having consulted with
Allenby Capital Limited, the Company's nominated adviser, consider
that the terms of Mr Wray's participation in the Placing are fair
and reasonable insofar as the Company's Shareholders are concerned.
Upon Admission, Nigel Wray will have a beneficial interest in the
Company of 7,387,000 ordinary shares, which will represent
approximately 17.43 per cent. of the enlarged share capital of the
Company as at Admission.
On Admission, the shareholdings of the directors of Tekcapital
will be as follows:
Holding Percentage
of ordinary of Enlarged
Director shares Share Capital
Clifford M. Gross, Ph.D.
(Chairman) 8,657,500 20.42%
Bill Payne (Non-executive
Director) 400,000 0.94%
Total Voting Rights
The Placing is conditional, among other things, upon Admission
becoming effective. Following Admission, the Company's issued
ordinary share capital will consist of 42,389,707 ordinary shares,
with one voting right each. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
and voting rights in the Company will be 42,389,707. With effect
from Admission, this 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 a
change to their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Important notice
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
This announcement does not constitute, or form part of, a
prospectus relating to the Company, nor does it constitute or
contain any invitation or offer to any person, or any public offer,
to subscribe for, purchase or otherwise acquire any shares in the
Company or advise persons to do so in any jurisdiction, nor shall
it, or any part of it form the basis of or be relied on in
connection with any contract or as an inducement to enter into any
contract or commitment with the Company.
The content of this announcement has not been approved by an
authorised person within the meaning of the Financial Services and
Markets Act 2000 ("FSMA").
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in
the United States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in the
United States. This announcement is not for release, publication or
distribution, directly or indirectly, in or into the United States,
Australia, Canada, the Republic of South Africa, Japan or any
jurisdiction where to do so might constitute a violation of local
securities laws or regulations (a "Prohibited Jurisdiction"). This
announcement and the information contained herein are not for
release, publication or distribution, directly or indirectly, to
persons in a Prohibited Jurisdiction unless permitted pursuant to
an exemption under the relevant local law or regulation in any such
jurisdiction. This announcement has been issued by and is the sole
responsibility of the Company.
Allenby Capital Limited is acting solely as nominated adviser
and joint-broker exclusively for the Company and no one else in
connection with the contents of this announcement and will not
regard any other person (whether or not a recipient of this
announcement) as its client in relation to the contents of this
announcement nor will it be responsible to anyone other than the
Company for providing the protections afforded to its clients or
for providing advice in relation to the contents of this
announcement. Apart from the responsibilities and liabilities, if
any, which may be imposed on Allenby Capital Limited by FSMA or the
regulatory regime established thereunder, Allenby Capital Limited
accepts no responsibility whatsoever, and makes no representation
or warranty, express or implied, for the contents of this
announcement including its accuracy, completeness or verification
or for any other statement made or purported to be made by it, or
on behalf of it, the Company or any other person, in connection
with the Company and the contents of this announcement, whether as
to the past or the future. Allenby Capital Limited accordingly
disclaims all and any liability whatsoever, whether arising in
tort, contract or otherwise (save as referred to above), which it
might otherwise have in respect of the contents of this
announcement or any such statement.
Optiva Securities Limited is acting solely as joint-broker
exclusively for the Company and no one else in connection with the
contents of this announcement and will not regard any other person
(whether or not a recipient of this announcement) as its client in
relation to the contents of this announcement nor will it be
responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing advice in
relation to the contents of this announcement. Apart from the
responsibilities and liabilities, if any, which may be imposed on
Optiva Securities Limited by FSMA or the regulatory regime
established thereunder, Optiva Securities Limited accepts no
responsibility whatsoever, and makes no representation or warranty,
express or implied, for the contents of this announcement including
its accuracy, completeness or verification or for any other
statement made or purported to be made by it, or on behalf of it,
the Company or any other person, in connection with the Company and
the contents of this announcement, whether as to the past or the
future. Optiva Securities Limited accordingly disclaims all and any
liability whatsoever, whether arising in tort, contract or
otherwise (save as referred to above), which it might otherwise
have in respect of the contents of this announcement or any such
statement.
**S**
For further information, please contact:
Tekcapital Plc
Clifford M. Gross, Ph.D. info@tekcapital.com
Allenby Capital Limited (Nominated Adviser
& Joint Broker) +44 (0)20 3328 5656
Jeremy Porter / Alex Brearley / Richard
A Short
Optiva Securities Limited (Joint Broker) +44 (0) 20 3137 1904
Jeremy King / Vishal Balasingham jeremy.king@optivasecurities.com
Walbrook PR Ltd +44 (0) 20 7933 8780
Paul Cornelius / Paul McManus tekcapital@walbrookpr.com
Tekcapital plc - The World's Largest University Network for Open
Innovation
Tekcapital helps clients profit from new, university-developed
intellectual properties. With its proprietary discovery search
engine, linked to 4,500+ universities in 160 countries, coupled
with expert scientific review, Tekcapital provides a turn-key
service to make it easy for clients to find and acquire the IP,
analytics and technology transfer professionals they need to create
a competitive advantage. Tekcapital plc is quoted on the AIM market
of the London Stock Exchange (AIM: symbol TEK) and is headquartered
in Oxford, in the UK.
LEI: 213800GOJTOV19FIFZ85
This information is provided by RNS
The company news service from the London Stock Exchange
END
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