Scientific Digital Imaging Plc Issue of Equity and Notice of General Meeting (2043C)
January 15 2015 - 2:01AM
UK Regulatory
TIDMSDI
RNS Number : 2043C
Scientific Digital Imaging Plc
15 January 2015
SCIENTIFIC DIGITAL IMAGING PLC
Issue of Equity and Notice of General Meeting
GBP0.5 million Equity Fundraising
Scientific Digital Imaging plc (AIM: SDI, "SDI" or the
"Company"), the AIM quoted group focused on the application of
digital imaging technology for use in life sciences, healthcare,
astronomy, and art conservation, is pleased to announce an equity
fundraising of approximately GBP0.5 million (before expenses). The
Company has conditionally placed 4,510,000 new ordinary shares of
1p each ("Ordinary Shares") at a price of 10 pence per Ordinary
Share with certain institutional and other investors and, in
addition, Ken Ford, Chairman of the Company, intends to subscribe
for 625,000 Ordinary Shares (also at a price of 10 pence per
Ordinary Share) later today (together the "Placing Shares") (the
"Equity Fundraising"). The Equity Fundraising is conditional, inter
alia, on shareholder approval of certain resolutions to be proposed
at the General Meeting referred to below ("Resolutions").
Upon completion of the Equity Fundraising, Ken Ford will be
interested in an aggregate of 1,000,000 Ordinary Shares,
representing approximately 3.0 per cent. of the Company's issued
share capital, as enlarged by the Equity Fundraising.
The proceeds of the Equity Fundraising will be used for general
working capital purposes, together with the satisfaction of recent
costs incurred in connection with the 2014 reorganisation of the
Company's Synoptics division (which, now completed, is anticipated
to deliver ongoing monthly cost savings) and certain fees incurred
in relation to a proposed large acquisition where discussions were
terminated during the first half of the current financial
period.
Commenting on the Equity Fundraising, Chairman Ken Ford said, "I
am delighted with the level of support that has been shown for SDI
by the institutional investor community. The funds raised will
enable the Company to continue with its planned strategy and the
Board is optimistic about SDI's future prospects."
General Meeting
A notice convening the General Meeting, to be held at the
offices of Mills & Reeve LLP, Botanic House, 100 Hills Road,
Cambridge CB2 1PH at 10.00 a.m. on 9 February 2015, will be posted
to shareholders shortly and will be available from the Company's
website www.scientificdigitalimaging.com.
The Directors consider the proposals set out in the notice to be
in the best interests of the Company and the Shareholders as a
whole. The Directors who hold Ordinary Shares intend to vote in
favour of the Resolutions to be proposed at the General Meeting in
respect of their shareholdings, representing in aggregate
approximately 1.41 per cent. of the Company's current issued share
capital as at the date of this announcement.
Further details
Application will be made to the London Stock Exchange for the
New Shares to be admitted to trading on AIM. Assuming that the
Resolutions are passed, it is expected that Admission will be
effective, and dealings will commence in respect of the New Shares,
at 8:00 a.m. on 10 February 2015.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Circular containing notice of the General Meeting, a copy of which
will shortly be available on the Company's website.
FOR FURTHER INFORMATION
Scientific Digital Imaging
plc 01223 727144
Ken Ford, Chairman
Mike Creedon, Chief Executive
Officer
www.scientificdigitalimaging.com
finnCap 020 7220 0500
Ed Frisby/Simon Hicks - Corporate Finance
Mia Gardener - Corporate
Broking
JW Communications
Julia Wilson - Investor
& Public Relations 0781 8430877
Note to Editors
About Scientific Digital Imaging plc:
Scientific Digital Imaging plc designs, manufactures and sells
digital imaging technology for use in the life sciences,
healthcare, astronomy, and art conservation through Synoptics
brands (Syngene, Synoptics Health, Synbiosis and Syncroscopy), the
Artemis CCD company brands (Atik Cameras and Artemis CCD Cameras)
and the Opus Instruments brand (Osiris).
SDI plans to continue to grow through its own technology
advancements as well as strategic, complementary acquisitions.
www.scientificdigitalimaging.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOELLFFALAISLIE
Sdi (LSE:SDI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sdi (LSE:SDI)
Historical Stock Chart
From Jul 2023 to Jul 2024