Market Update
July 31 2009 - 2:00AM
UK Regulatory
TIDMADID TIDMADIS
RNS Number : 6196W
Armor Designs, Inc.
31 July 2009
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| | 31 July 2009 |
+------------------------------------+------------------------------------+
Armor Designs, Inc.
Market Update
Armor Designs Inc., the developer of next generation composite armour, wishes to
update the market on the fundraising announced on 19 June 2009.
At the time the Company announced that it had raised US$2.5 million by way of a
private placement of 166,667 common shares at a price of US$15 per share. At the
same time the Company announced that it would seek admission to trading of these
shares on 26 June 2009. On 29 June 2009 these shares were admitted to trading on
AIM. The Company wishes to announce that as of today the funds from the issue of
66,667 common shares (i.e. 0.25% of the total issued share capital of the
Company), representing US$1 million have not been received.
While the Company does not doubt that it will receive the outstanding funds from
this placee, who is an existing shareholder, it wishes to cancel the admission
to trading of these shares until such time as the funds have been received.
Dr. James A. St. Ville, chairman of Armor Designs, Inc., said: "Notwithstanding
the above I believe that the Company continues to be well-placed to raise
further equity funding."
For further information:
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| Armor Designs, Inc. | |
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| Dr James St Ville | Tel: +1 602 275 4633 |
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| James.St.Ville@armordesigns.com | www.armordesigns.com |
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Nominated advisor:
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| Zimmerman Corporate Finance Ltd | |
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| Thilo Hoffman | Tel: +44 (0) 20 7398 2900 |
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| thiloh@zimmint.com | www.zimmint.com |
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Media enquiries:
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| Brunswick Group LLP | |
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| Michael Harrison/ Chris Blundell / | Tel: +44 (0) 20 7404 5959 |
| Camilla Gore | |
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| adi@brunswickgroup.com | www.brunswickgroup.com |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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