Equity Fundraising and Directors' dealings (3210E)

TIDMCTN

RNS Number : 3210E

ClearStream Technologies Group PLC

05 April 2011

For Immediate Release 5 April 2011

ClearStream Technologies Group plc

("ClearStream" or the "Company")

Equity fundraising and directors' dealings

The Company is pleased to announce that it has conditionally placed 3,958,334 new ordinary shares of EUR 0.125 each in ClearStream (the "Placing Shares") at 48 pence per share (the "Placing Price") through its broker, finnCap, to raise approximately GBP1.9 million (the "Placing"). The Placing was oversubscribed and will be effected from the Company's existing headroom. The net proceeds of the Placing will be used by ClearStream to invest in further research and development, to fund further manufacturing investment and to provide the incoming Chief Technical Officer funding to seek out further operational improvements and provide funds to invest in developing new products.

Certain of ClearStream's directors are participating in the Placing as detailed in the table below. Following the Placing, directors' shareholdings will be as follows:

 
                                    % of issued        Holding   % of enlarged 
                  Current                 share      following    issued share 
 Director         holding               capital    the Placing         capital 
---------------  --------------  --------------  -------------  -------------- 
 Dr Michael 
  Love                4,386,266            9.47      4,548,766            9.05 
---------------  --------------  --------------  -------------  -------------- 
 Andrew Jones         2,083,777            4.50      2,202,527            4.38 
---------------  --------------  --------------  -------------  -------------- 
 Pauline Oakes          255,380            0.55        286,630            0.57 
---------------  --------------  --------------  -------------  -------------- 
 Gay Gahan            1,013,990            2.19      1,013,990            2.02 
---------------  --------------  --------------  -------------  -------------- 
 

Andrew Jones, CEO of ClearStream, commented:

"I am pleased by the level of support our fundraising received from new institutional investors and thank our existing institutional investors for their continued support. This placing will provide funding to allow us to continue to build on our strong position in the Peripheral marketplace."

Application has been made for a total of 3,958,334 new ordinary shares of EUR 0.125 each ("Ordinary Shares") in ClearStream to be admitted to trading on AIM ("Admission"). The Placing Shares will rank pari passu with the Company's existing Ordinary Shares. Admission is expected to become effective on 8 April 2011.

Following Admission of the Placing Shares, the Company will have 50,266,345 Ordinary Shares in issue with each share carrying the right to one vote. There are no shares held in Treasury. The total number of voting rights in ClearStream will therefore be 50,266,345.

The above 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 in their interest in, ClearStream, under the Disclosure and Transparency Rules.

For further information please contact:

 
 ClearStream Technologies Group    Tel: + 353 (0) 53 923 
  plc                               7111 
 Andrew Jones, CEO 
 Winningtons Financial             Tel: + 44 (0) 117 985 
                                    8989 
 Paul Vann                         Mob: [phone] 
 FinnCap                           Tel: + 44 (0) 20 7600 
                                    1658 
 Marc Young, Corporate Finance 
  Charlotte Stranner, Corporate 
  Finance 
  Simon Starr, Corporate Broking 
 

About ClearStream:

ClearStream, , based in Enniscorthy, Co Wexford, Ireland, is an innovative maker of medical devices used in peripheral (lower limb) and coronary interventional procedures, including catheters and stents. Its products are sold under ClearStream's own brands and are also supplied to Original Equipment Manufacturers.

The Company is listed on the AIM market of the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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