REG - PCI-PAL PLC - Results of Placing <Origin Href="QuoteRef">PCIPP.L</Origin>

PCI- PALAnnouncement

30/01/2018 16:40

RNS Number : 3876D
PCI-PAL PLC
30 January 2018
THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROMTHE UNITED STATES,CANADA,JAPAN, THEREPUBLIC OF SOUTH AFRICA, AUSTRALIA, THE REPUBLIC OF IRELAND, NEW ZEALAND,ISRAELOR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT AND AT THE START OF THE APPENDIX.
PCI PAL PLC
("PCI Pal" or the "Company")
Results of Placing
The Companyis pleased to announce that a total of 11,000,000 Placing Shares have been conditionally placed at a price of 45 pence per Placing Share, raising gross proceeds of 4.95 million (approximately 4.6 million after expenses). The Placing Shares will represent approximately 25.8% of the Company's enlarged issued ordinary share capital (excluding treasury shares).
William Catchpole, CEO of PCI Pal, said:
"We are delighted by the response we have received from new and existing shareholders. The funds raised through the placing will enable us to invest in the business and capitalise on the significant commercial opportunities in North America and elsewhere. We look forward to this exciting next stage of development of PCI Pal."
Share capital on completion of the Placing
Application has been made for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will occur on or around 31 January 2018.
Following Admission, the Company's enlarged issued share capital will comprise42,721,178 Ordinary Shares with 167,229 Ordinary Shares held in treasury and the total voting rights in the Company will be 42,553,949. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
The issue of the Placing Shares is conditional, amongst other things, the admission of the Placing Shares to trading on AIM.
Unless otherwise defined herein, capitalised termsused in this announcementshall have the same meanings as those defined in the Company's announcement released earlier today.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
2018
Admission and dealings in the Placing Shares expected to commence on AIM
8.00 a.m. on 31 January
Where applicable, expected date for CREST accounts to be credited in respect of Placing Shares in uncertificated form
8.00 a.m. on 31 January
Where applicable, expected date for despatch of definitive share certificates for Placing Shares in certificated form
on or around 14 February
Note: Each of the above dates is subject to change at the absolute discretion of the Company
For further details, please contact:

PCI PAL PLC (Via Walbrook PR)
William Catchpole - Chief Executive Officer
William Good - Chief Financial Officer
N+1 Singer (Nomad & Broker)
Aubrey Powell / James White
+44 (0) 20 7496 3000
Walbrook PR
Tom Cooper / Paul Vann
+44 (0) 20 7933 8780
+44 (0) 797 122 1972
tom.cooper@walbrookpr.com


N+1 Singer is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom. N+1 Singer is acting exclusively for the Company and no one else in connection with the Bookbuild and the Placing, and N+1 Singer will not be responsible to anyone (including any Placees) other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Bookbuild or the Placing or any other matters referred to in this announcement.
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by the Placing Agent or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.
The price of shares and any income expected from them may go down as well as up and investors may not get back the full amount invested upon disposal of the shares. Past performance is no guide to future performance, and persons needing advice should consult an independent financial adviser.

This information is provided by RNS
The company news service from the London Stock Exchange
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