Synety Group PLC Placing, change of adviser and General Meeting (5310L)
August 13 2013 - 2:01AM
UK Regulatory
TIDMSNTY
RNS Number : 5310L
Synety Group PLC
13 August 2013
13 August 2013
Synety Group plc
("Synety" or the "Company")
Placing of 1,400,000 Ordinary Shares at 150 pence per share
Change of adviser
and
Notice of General Meeting
Synety Group plc (AIM:SNTY), the UK software and telco company
specialising in the provision of cloud based telephone call-control
systems, announces today that the Company has conditionally raised
GBP2.1 million (before expenses) through the Placing of 1,400,000
new Ordinary Shares at the Placing Price of 150p per share with
certain institutional investors, in accordance with the terms set
out in the circular to be published by the Company and posted to
shareholders today (the "Circular").
The net proceeds of the Placing will be used to expand the
Company's UK sales force and customer services team, expand and
strengthen the technology platform with disaster recovery features
and provide general working capital for the Company to capitalise
on its first-mover advantage and land grab a market niche where the
Directors believe there is limited competition and significant
potential.
The Placing Shares when issued will rank pari passu with the
existing Ordinary Shares and will, following Admission, rank in
full for any dividends and distributions paid or made thereafter in
respect of the Ordinary Shares.
Application will be made for the Placing Shares to be admitted
to trading on AIM. Subject to all relevant conditions being
satisfied (or, if applicable, waived), it is expected that dealings
in the Placing Shares will commence on AIM at 8.00 a.m. on 9
September 2013. It is expected that definitive evidence of title to
the Placing Shares will be delivered under CREST on the date of
their Admission where delivery is requested in uncertificated form,
or by first class post by 23 September 2013 where delivery is
requested in certificated form. No temporary documents of title
will be issued.
The Placing is conditional on, inter alia, the passing of the
Resolutions at the General Meeting, including a special resolution
which will give the Directors the required authority to disapply
statutory pre-emption rights in respect of the allotment of the
Placing Shares.
A General Meeting of the Company will be held at 12.00 p.m. on 6
September 2013 at One America Square, Crosswall, London EC3N 2SG
for the purpose of considering and, if thought fit, passing the
Resolutions.
The Company is also pleased to announce the appointment of
Nplus1 Singer Advisory LLP and Nplus1 Singer Capital Markets
Limited ("N+1 Singer") as the Company's Nomad and Broker with
immediate effect.
Commenting on the Placing, Simon Cleaver, Executive Chairman of
the Company, said:
"We are pleased with the outcome of the Placing as it helps
secure the future for Synety. The timing of this fundraising is
also important as we currently see growth opportunities around
almost every corner and we intend to use our first mover position
to full advantage."
Capitalised terms used in this announcement have the meanings
given to them in the Circular.
Copies of the Circular will shortly be available on the
Company's website (www.synety.com) and will also be available at
the Company's office at Studio 4, Phoenix Square, 1 Burton Street,
Leicester LE1 1TB.
For further information please contact:
Synety Group plc
Simon Cleaver 01344 667 347
Square1 Consulting 020 7220 0500
David Bick / Mark Longson
N+1 Singer 020 7496 3000
Shaun Dobson / Matt Thomas
N+1 Singer
N+1 Singer, which is a member of the London Stock Exchange and
is authorised and regulated in the UK by the Financial Conduct
Authority, is acting as nominated adviser and broker to Synety
Group plc in connection with the proposed Placing. N+1 Singer is
acting exclusively for Synety Group plc in connection with the
Placing and no one else. N+1 Singer will not be responsible to
anyone other than Synety Group plc for providing the protections
afforded to clients of N+1 Singer nor for advising any other person
on the transactions and arrangements described in this announcement
or the Circular. No representation or warranty, express or implied,
is made by N+1 Singer as to any of the contents of this
announcement or the Circular. Apart from the liabilities and
responsibilities, if any, which may be imposed on N+1 Singer by the
Financial Services and Markets Act 2000 or the regulatory regime
established under it, N+1 Singer accepts no responsibility
whatsoever for the contents of this announcement or the Circular or
for any other statement made or purported to be made by it or on
its behalf in connection with Synety Group plc, the Ordinary
Shares, the New Ordinary Shares or the Placing. N+1 Singer
accordingly disclaims all and any liability whatsoever whether
arising in tort or contract or otherwise (save as referred to
above) which it might otherwise have in respect of this
announcement or the Circular or any such statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCNKBDNCBKDQFD
Cloudcall (LSE:CALL)
Historical Stock Chart
From Apr 2024 to May 2024
Cloudcall (LSE:CALL)
Historical Stock Chart
From May 2023 to May 2024