Issue of Equity
May 08 2009 - 2:00AM
UK Regulatory
TIDMTIME
RNS Number : 9024R
Timestrip PLC
08 May 2009
Timestrip plc
("Timestrip" or the "Company")
Placing to raise GBP610,000 for new product roll out
Timestrip is pleased to announce that it has raised GBP610,550 (before expenses)
through a placing of ordinary shares of 0.02p each ("Ordinary Shares").
40,703,334 Ordinary Shares have been placed with institutional and other
investors.
The Company has announced the launch of several exciting new products recently
including, TimestripPlus, Timestrip IV and DefrostWatch. The proceeds of the
Placing will provide additional working capital for the Company, enabling
Timestrip to accelerate the product roll out into these new markets.
Application will be made for the 40,703,334 new Ordinary Shares to be admitted
to trading on AIM and admission is expected on 14 May 2009.
The total enlarged issued share capital of the Company will be 496,812,376. The
Company holds no Ordinary Shares in treasury. Therefore, following the Placing,
the total number of voting rights in the Company is 496,812,376. The above
figure may be used by shareholders in determining whether they are required to
notify their interest in, or a change to their interest in, the Company under
the Disclosure and Transparency Rules.
Paul Freedman, Joint CEO Timestrip Plc: "We are delighted to have raised
additional funds to help us accelerate the roll out of these exciting new
products. These funds add strength to our balance sheet as we look to capitalize
on the opportunities available to us."
For more information, please contact:
Paul Freedman, Joint CEO Timestrip
01462 440 700
Geoff Nash FinnCap, NOMAD 020 7600 1658
Marc Young
This information is provided by RNS
The company news service from the London Stock Exchange
END
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