Top

News & Events

NetScientific: Result of Placing and Further Allotment of New Shares Pursuant to Offer

NetScientific: Result of Placing and Further Allotment of New Shares Pursuant to Offer

London, UK - 6 November 2015 - On 1 October 2015, the Group announced a conditional Placing to raise approximately £18.0m and an Additional Fundraising to raise up to approximately £2.0m, both before expenses.

The Additional Fundraising closed for acceptances at 11.00 a.m. on 5 November 2015 and the Company is pleased to announce that it has received valid acceptances in respect of 119,508 Additional Fundraising Shares from Shareholders, which includes 20,833 Additional Fundraising Shares from directors of NetScientific.  This represents 7.2 per cent. of the Additional Fundraising Shares offered. The Company has therefore raised a total of £18.14 million, before expenses, from the Placing and Additional Fundraising.

The New Ordinary Shares to be issued pursuant to the Placing and Additional Fundraising remain subject to the passing of the Resolutions at the General Meeting to be held at the offices of Simmons & Simmons, CityPoint, 1 Ropemaker Street, London EC2Y 9SS at 9.00 a.m. today and Admission (as defined below).

Capitalised terms in this announcement have the meanings given to them in the Circular dated 21 October 2015.

Applications have been made to the London Stock Exchange for New Ordinary Shares to be admitted to trading on AIM (“Admission”). Admission is expected to commence at 8.00 am on 9 November 2015. Following Admission, the New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

On Admission, the Company’s issued share capital will comprise 51,021,528 Ordinary Shares, none of which will be held in treasury. Each Ordinary Share carries the right to one vote and therefore the total number of voting rights in the Company on admission will be 51,021,528. This figure may be used by shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules

A copy of this announcement is also available on the Company's website at www.netscientific.net. 

Directors’ interests

Mr. Barry Wilson, a Director of the Company, participated in the Additional Fundraising and following admission of the New Ordinary Shares allotted under the Placing and Additional Fundraising, his interest, and the interest of the other Directors, in the Ordinary Shares of the Company will be as follows:

nsci

Issued for and on behalf of NetScientific by Instinctif Partners.
For more information please contact: netscientific@instinctif.com

back to news

People

Melanie Toyne-SewellManaging Partner