REG - Eleco PLC - Completion of Subscription <Origin Href="QuoteRef">ELCO.L</Origin>

ElecoAnnouncement

06/09/2014 18:27

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RNS Number : 6569M
Eleco PLC
17 July 2014 
 
ELECO plc 
 
(the "Company") 
 
Completion of Subscription of Ordinary Shares 
 
Eleco announces that following acceptance of a final subscription in respect
of 2,500 ordinary shares of 10p each ("ordinary shares"), the final number of
ordinary shares subscribed by shareholders pursuant to the Subscription Issue
announced on 23 June 2014, amounted to 13,208,888 ordinary shares and that
following admission of these shares to trading on AIM ("Admission"), the
issued share capital of Eleco will consist of 73,867,127  ordinary shares. 
The Subscription price was 20.5p per share and the total amount raised by the
Subscription Issue was £2.74 million, less costs of approximately £0.26
million.  The middle market price of Eleco ordinary shares on 16 July, 2014
was 20p per share and the market capitalisation of Eleco was £14.78 million. 
 
Application has been made for the 2,500 ordinary shares referred to above to
be admitted to trading on AIM and it is expected that Admission will occur at
8.00 a.m. on 22 July 2014. Thereafter, the number of issued ordinary shares of
Eleco totalling 73,867,127 shares must 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 Financial Conduct Authority's
Disclosure and Transparency Rules. 
 
Enquiries: 
 
 For further information please contact:                                      
                                                                              
 ELECO plc                                http://www.eleco.com                
 John Ketteley, Executive Chairman        Tel: 0207 422 0044                  
                                                                              
                                                                              
 Peckwater PR                                                                 
 Tarquin Edwards                          Tel: 07879 458 364 / 0207 808 7340  
                                                                              
 Cenkos Securities plc                                                        
 Nicholas Wells                           Tel: 0207 397 8900                  
 
 
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