QTI Qonnectis

 

TIDMQTI 
 
RNS Number : 1160Q 
Qonnectis plc 
29 July 2010 
 
                                                                    29 July 2010 
 
                                  Qonnectis plc 
                         ("Qonnectis" or the "Company") 
 
                              Result of Open Offer 
 
On 7 July 2010, Qonnectis announced that it was proposing to raise approximately 
GBP1 million (before expenses) by way of an Open Offer to the Company's existing 
Shareholders, as part of the proposed acquisition of American Leak Detection, 
Inc., a proposed change of name to Water Intelligence plc and Admission of the 
Enlarged Share Capital to trading on AIM. Defined terms used in the announcement 
on 7 July 2010 shall have the same meanings in this announcement. 
 
The Company announces that at the closing date of the Open Offer (being 11 a.m. 
on 28 July 2010) the Company had received and has accepted valid applications 
from holders of Existing Ordinary Shares for an aggregate of 224,757 New 
Ordinary Shares, representing GBP168,567.75. 
 
In addition and as previously announced, Merchant Securities Limited, the 
Company's nominated adviser and broker, had procured sub-underwriting 
commitments in respect of 876,553 New Ordinary Shares, representing 
GBP657,414.75, and therefore the total gross proceeds from the Open Offer are 
GBP825,982.50, representing a take-up of 1,101,310 New Ordinary Shares (82.62 
per cent.) of the total 1,332,946 New Ordinary Shares available. 
 
The Open Offer is conditional upon, inter alia, the passing of the Resolutions 
at the general meeting of the Company, to be held at 10.00 a.m. today. An 
announcement relating to the result of the General Meeting and satisfaction of 
other conditions relating to the Acquisition and Admission will be released in 
due course. 
 
ENQUIRIES 
 
+-----------------------------------+----------------+ 
| Qonnectis plc                     |                | 
+-----------------------------------+----------------+ 
| Harry Offer, Non-Executive        |  Tel: +44 7887 | 
| Chairman                          |        753 341 | 
+-----------------------------------+----------------+ 
| Patrick DeSouza, Non-Executive    |    Tel: +1 203 | 
| Director                          |       654 5426 | 
+-----------------------------------+----------------+ 
|                                   |                | 
+-----------------------------------+----------------+ 
| Merchant Securities Limited       |                | 
+-----------------------------------+----------------+ 
| Bidhi Bhoma/David Worlidge        |    Tel: +44 20 | 
|                                   |      7628 2200 | 
+-----------------------------------+----------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ROISELFWAFSSEFW 
 

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