TIDMTOU
RNS Number : 4077B
Touch Group PLC
17 February 2011
17 February 2011
Touch Group plc ("Touch" or the "Company")
Placing
PLACING
Touch Group plc is pleased to announce that it has successfully
raised GBP725,000 before expenses by way of a placing of 48,333,333
new ordinary shares of 1p each in the capital of the Company ("new
Ordinary Shares") at 1.5 pence ("Placing Price") per new Ordinary
Share (the "Placing").
The net proceeds of the Placing will be used to enhance and
extend our digital assets which should speed the development of the
Company's Medical Education and Communications Division and expand
our Pharma and Energy Divisions.
The new Ordinary Shares to be issued pursuant to the Placing
will rank pari passu in all respects with the existing issued
ordinary share capital of the Company. These new Ordinary Shares
have been allotted conditionally upon being admitted to trading on
AIM by no later than 4 March 2011. Application has been made for
the new Ordinary Shares to be admitted for trading on AIM and
trading is expected to commence on 23 February 2011.
HOLDINGS ON COMPLETION OF THE PLACING
Set out below are the current interests of the shareholders and
directors participating in the Placing, the number of new Ordinary
Shares taken up by those shareholders and directors pursuant to the
Placing and their aggregate interests in the Company's issued share
capital following completion of the Placing.
Aggregate Following the
interests Placing
Number of new following percentage of the
Ordinary Shares completion of the enlarged issued
Shareholder being issued Placing share capital
Schroder
Investment
Management
Limited 6,666,667 35,816,667 17.04%
Herald
Investment
Management
Limited 8,000,000 30,226,212 14.38%
The J Isaacs
Charitable
Trust 18,400,000 25,900,000 12.32%
Martin Reuben 1,666,666 8,668,666 4.12%
Directors
Vincent Isaacs 0 28,596,859 13.61%
Stuart Winship 1,000,000 1,762,500 0.84%
Peter Katz 933,333 1,466,376 0.70%
Tim Green 666,667 872,243 0.41%
Neil Brown 0 312,500 0.15%
CHANGES IN SIGNIFICANT SHAREHOLDINGS
The following significant shareholders are not participating in
the Placing and will, as a result of the Placing, have their
shareholdings diluted through a percentage point:
Following the
Placing
Percentage of the percentage of the
current issued enlarged issued
Shareholder Number of Shares share capital share capital
Jeremy Michael
Isaacs Family
Settlement 8,000,000 4.94% 3.81%
Nick Slater 9,375,000 5.79% 4.46%
Edwards Family
Holdings
Limited 6,000,000 3.71% 2.85%
TOTAL VOTING RIGHTS
Following the Placing, the issued share capital of the Company
will increase by 29.86 per cent to 210,191,921 Ordinary Shares of
1p each. In accordance with the Disclosure and Transparency Rules,
the Company confirms that its issued share capital will comprise
210,191,921 Ordinary Shares of 1p each. This figure may 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 Disclosure and Transparency Rules (as applied to the
Company by AIM Rule 17).
Vincent Isaacs, Executive Chairman of Touch, stated:
The time required to build and develop a complex business such
as Touch Group plc was under-estimated. However, our major
shareholders have recognised this fact and have supported our
development over the past three years unstintingly.
From the basis of a now stable infrastructure, the main assets
we have built are an intellectual sales force and technical teams,
coupled with a wholly owned world-class library of journals,
medical and energy papers, both online and in print. None of these
assets are reflected on our balance sheet.
The Placing which has just been completed will enable us to
provide further technical resource for our sales force and
technical teams, bringing forward anticipated benefits.
For further information please contact:
Touch Group plc
Vincent Isaacs
Executive Chairman
Tel: 020 7452 5222
Shore Capital and Corporate Limited
Nominated Adviser to the Company
Andrew Raca/Edward Mansfield
Tel: 020 7408 4090
This information is provided by RNS
The company news service from the London Stock Exchange
END
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