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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Armor Des Regs | LSE:ADIS | London | Ordinary Share | COM SHS USD0.001 (REGS) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 120.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMADID TIDMADIS
RNS Number : 7360C
Armor Designs, Inc.
11 March 2011
DRAFT Press Release 11 March 2011
Armor Designs Inc.
("Armor Designs" or "Company" or "ADI")
Equity Fundraising
Armor Designs Inc., (AIM: ADID, ADIS), the knowledge-based designer and manufacturer of composite armour products, is pleased to announce that it has today closed (the " Closing") a fundraising (the "Fundraising") by which the Company has raised US$450,000, before expenses, through a placing with investors of 30,000 new common shares of US$0.001 each in the Company (the "Placing Shares"). The Closing has been completed at a price of US$15 per Placing Share (the "Placing Price"). As part of the Closing the Company has agreed with the investor that in the event the Company issues any shares in the capital of the Company as part of a further fundraising at a price less than the Placing Price (the "Lower Price") prior to 31 December 2012, the investor will have the option to subscribe at par (being US$0.001 per share), for such number of additional shares as they would have received had the subscription price per share at Closing been the Lower Price rather than the Placing Price.
The net proceeds of the Closing are for short term working capital requirements. The Company will consider undertaking further fundraisings if necessary to provide for the implementation of its growth strategy over the medium term (including longer term working capital, research and development and international business development) which may or may not take place over the next six months.
Application will be made for the Placing Shares to be admitted to trading on the London Stock Exchange's AIM market. Dealings in the Placing Shares are expected to commence on AIM at 8.00am. on 17 March 2011.
For further information please contact:
Armor Designs, Inc. Phil Clement, Interim CEO Tel: +1 602 275 4633 Phil.Clement@armordesigns.com www.armordesigns.com
Shore Capital and Corporate Ltd.
Anita Ghanekar
Edward Mansfield Tel: +442074084080
Notes to editors
Armor Designs, Inc. ("ADI") is a knowledge-based company specializing in next-generation composite material design, manufacture, prototyping and testing for applications and products for the armor industry. ADI uses a proprietary design and manufacturing process called VCM to rapidly develop new composite armor products of superior ballistic, weight and flexibility. The VCM process is protected by patents and trade secrets licensed to ADI in perpetuity for use in field of armor.
For more information on Armor Designs, Inc., please go to www.armordesigns.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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