Ultrasis PLC Proposed Fundraising not proceeding (5314K)

TIDMULT

RNS Number : 5314K

Ultrasis PLC

17 April 2015

Ultrasis plc

("Ultrasis" or the "Company")

Proposed Fundraising not proceeding

Further to the announcement of 31 March and the suspension of trading in the Company's shares, the Board has now been informed that Mr Bell is no longer in a position to participate in the proposed Fundraising and therefore as a result the proposed Fundraising will not proceed.

The Board is in discussions with various parties as it seeks to find alternative sources of funding.

The Company has received valid acceptances in respect of 264,067 Open Offer Shares from Qualifying Shareholders in respect of the Open Offer. Given the Fundraising will not proceed, the amounts lodged with Capita pursuant to the Open Offer will be returned to Qualifying Shareholders as detailed in the Circular.

Trading in the Company's shares remains suspended pending clarification of the Company's financial position.

Unless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the Circular, which was posted to shareholders on 17 March 2015 and details of which were announced on that date

For all enquiries please contact:

 
Ultrasis plc                   Tel: +44 (0) 20 7535 
                                2050 
John Smith, Interim Executive 
 Chairman 
 
finnCap Ltd 
 Geoff Nash/Simon Hicks          Tel: +44 (0) 20 7220 
                                 0500

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCKMGMDVNVGKZG

Ultrasis (LSE:ULT)
Historical Stock Chart
From Nov 2024 to Dec 2024