Eleco PLC Completion of Subscription (6569M)

TIDMELCO

RNS Number : 6569M

Eleco PLC

17 July 2014

ELECO plc

(the "Company")

Completion of Subscription of Ordinary Shares

Eleco announces that following acceptance of a final subscription in respect of 2,500 ordinary shares of 10p each ("ordinary shares"), the final number of ordinary shares subscribed by shareholders pursuant to the Subscription Issue announced on 23 June 2014, amounted to 13,208,888 ordinary shares and that following admission of these shares to trading on AIM ("Admission"), the issued share capital of Eleco will consist of 73,867,127 ordinary shares. The Subscription price was 20.5p per share and the total amount raised by the Subscription Issue was GBP2.74 million, less costs of approximately GBP0.26 million. The middle market price of Eleco ordinary shares on 16 July, 2014 was 20p per share and the market capitalisation of Eleco was GBP14.78 million.

Application has been made for the 2,500 ordinary shares referred to above to be admitted to trading on AIM and it is expected that Admission will occur at 8.00 a.m. on 22 July 2014. Thereafter, the number of issued ordinary shares of Eleco totalling 73,867,127 shares must 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.

Enquiries:

 
 For further information please 
  contact: 
 
 ELECO plc                           http://www.eleco.com 
 John Ketteley, Executive Chairman   Tel: 0207 422 0044 
 
 
 Peckwater PR 
 Tarquin Edwards                     Tel: 07879 458 364 / 0207 808 
                                      7340 
 
 Cenkos Securities plc 
 Nicholas Wells                      Tel: 0207 397 8900

This information is provided by RNS

The company news service from the London Stock Exchange

END

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