Further re Placing
January 16 2007 - 6:21AM
UK Regulatory
RNS Number:5895P
Aquilo PLC
16 January 2007
For immediate release 16 January 2007
Aquilo plc
("Aquilo" or "the Company")
Placing to raise approximately #2.61 million (before expenses)
and conversion of loan notes
Aquilo Plc today announces that it has issued and applied for the admission to
trading on AIM of 3,163,636 new ordinary shares of 10p (the "Subscription
Shares") at 82.5 pence per share (the "Placing") with new and existing
investors.
In addition, the Company has issued and applied for the admission to trading on
AIM of 917,413 new ordinary shares of 10p (the "Conversion Shares") following
the conversion of #0.76 million of existing convertible loan notes in the
Company. The loan notes were converted at 82.5 pence per share.
Following the admission of the Subscription Shares and the Conversion Shares to
trading on AIM the Company will have a total of 5,885,458 ordinary shares in
issue.
Application for the Subscription Shares and the Conversion Shares to be admitted
to AIM has been made and it is expected that the Subscription Shares and
Conversion Shares will begin trading on AIM on 19 January 2007. The Subscription
Shares and the Conversion Shares will rank pari passu with the existing ordinary
shares in issue. The Subscription Shares and the Conversion Shares will be
identical in all respects to the existing ordinary shares with a nominal value
of 10 pence.
The Placing has been undertaken to repay the Company's current invoice
discounting facility, repay some of the existing convertible loan notes and
provide further resources to strengthen the working capital position of the
business going forward.
For further information please contact:
Clive Nicholls, Chief Executive Officer, Aquilo plc Tel: 020 3008 5514
Crispin Burdett, Company Secretary, Aquilo plc Tel: 020 3008 5515
Alasdair Robinson, Noble & Company Limited Tel: 0131 225 9677
This information is provided by RNS
The company news service from the London Stock Exchange
END
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