Synety Group PLC Result of Open Offer & Result of GM (5432J)

TIDMSNTY

RNS Number : 5432J

Synety Group PLC

07 April 2015

7 April 2015

SYNETY Group plc

(the "Company")

Result of Open Offer

and

Result of General Meeting

On 18 March 2015, SYNETY Group plc (AIM: SNTY.L), a leading cloud-based software and communications business, announced details of a proposed share issue to raise GBP2.82 million (before expenses) through the issue of 3,129,084 new Ordinary Shares by way of a Placing at 90 pence per new Ordinary Share (the "Issue Price") and up to a further 834,028 new Ordinary Shares to be issued through an Open Offer at the Issue Price to raise up to approximately GBP0.75 million.

The Company has received valid acceptances in respect of 568,752 Open Offer Shares from Qualifying Shareholders, including applications under the Excess Application Facility. This represents approximately 68.19 per cent. of the Open Offer Shares offered.

The Company is also pleased to announce that, at its General Meeting held earlier today, the resolutions as set out in the Notice of General Meeting sent to shareholders on 18 March 2015 in reference to the Placing and Open Offer, were duly passed.

The Company has therefore raised approximately GBP3.33 million (before expenses) through the Placing and Open Offer.

Application has been made to AIM for the admission of 3,697,836 New Ordinary Shares. It is expected that Admission will become effective at 8.00 a.m. on 9 April 2015.

The New Ordinary Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the New Ordinary Shares in respect of Ordinary Shares and will otherwise rank on admission of the New Ordinary Shares pari passu in all respects with the existing Ordinary Shares.

Following Admission, the Company's total issued and voting share capital will comprise 12,130,792 Ordinary Shares. This number may be used by shareholders 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 Financial Conduct Authority's Disclosure and Transparency Rules.

Directors' interests

Following Admission of the New Ordinary Shares allotted under the Placing and Open Offer, and the participation of the Directors under the Open Offer, the interests of the Directors in the Ordinary Shares of the Company will be as follows:

 
 Director         Shareholding      % of issued        Uptake        Uptake in   Shareholding       % of issued 
                      prior to    share capital    under Open    the secondary      following     share capital 
                    the Issue*       held prior         Offer      market post      Admission    held following 
                                   to the Issue                          Issue                        Admission 
===============  =============  ===============  ============  ===============  =============  ================ 
 Simon 
  Cleaver              317,254             3.76        56,812                -        374,066              3.08 
===============  =============  ===============  ============  ===============  =============  ================ 
 Mark Seemann          876,077            10.39        40,300                -        916,377              7.55 
===============  =============  ===============  ============  ===============  =============  ================ 
 Paul Williams          41,857             0.50        22,200           10,000         74,057              0.61 
===============  =============  ===============  ============  ===============  =============  ================ 
 Graham 
  Ward                 206,795             2.45             -                -        206,795              1.70 
===============  =============  ===============  ============  ===============  =============  ================ 
 David                       -                -             -                -              -                 - 
  Whelan 
---------------  -------------  ---------------  ------------  ---------------  -------------  ---------------- 
 Dr. Georg 
  Oehm                       -                -             -           15,000         15,000              0.12 
---------------  -------------  ---------------  ------------  ---------------  -------------  ---------------- 
 Andrew 
  Jones**               32,769             0.39        10,324           10,204         53,297              0.44 
---------------  -------------  ---------------  ------------  ---------------  -------------  ---------------- 
 Jason 
  Kendall**            504,298             5.98        38,480                -        542,778              4.47 
---------------  -------------  ---------------  ------------  ---------------  -------------  ----------------

* Denotes the aggregate of Ordinary Shares held legally and beneficially.

** Directors of Synety Limited a wholly-owned subsidiary of Synety Group plc.

*** In addition, Mellinckrodt 2 SICAV, a Luxembourg registered investment fund continues to hold 614,458 Ordinary Shares, representing 5.07% of the Company's total voting rights. Dr. Georg Oehm sits on the investment committee of Mellinckrodt 2 SICAV and his family hold shares in the fund. Dr. Georg Oehm therefore also has an indirect interest in the Company.

For further information please contact:

 
Simon Cleaver 
                                                     SYNETY Group Plc   +44 (0)203 587 7188 
 Shaun Dobson / Ben Wright (Nominated Adviser)/ 
 Alex Wright / Emily Watts                                 N+1 Singer   +44 (0)207 496 3000 
David Bick / Mark Longson                          Square1 Consulting   +44 (0)207 929 5599

This information is provided by RNS

The company news service from the London Stock Exchange

END

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