We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Servision | LSE:SEV | London | Ordinary Share | GB00B0586C20 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.85 | 0.70 | 1.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSEV
RNS Number : 1693A
SerVision plc
25 September 2015
25 September 2015
SerVision plc
("SerVision" or the "Company")
Proposed Placing to Raise GBP797,684
SerVision (AIM: SEV), the AIM quoted developer and manufacturer of digital security systems, is pleased to announce that it has conditionally raised GBP797,684 (before expenses) through the issue of 22,790,972 new ordinary shares of 1p each in the Company (the "Placing Shares") with existing investors and new shareholders, at a price of 3.5 pence per Placing Share (the "Placing"). The net proceeds of the Placing, amounting to approximately GBP732,800, will be used to satisfy the Company's existing order book and for general working capital purposes. The Placing has been arranged by Beaufort Securities Limited ("Beaufort"), the Company's joint broker, and the Placing Shares have been subscribed for by clients of Beaufort.
A total of GBP617,584, representing the issue of 17,645,258 Placing Shares (the "Firm Placing Shares"), has been raised within the Company's existing share authorities put in place at the Company's annual general meeting held on 30 July 2015. The issue of the Firm Placing Shares is conditional only upon admission of the Firm Placing Shares to trading on AIM ("First Admission"). Application will be made shortly for the Firm Placing Shares, which will be issued paid up and rank pari passu with the existing ordinary shares of 1 pence each in the capital of the Company, to be admitted to trading on AIM. It is expected that First Admission will take place on or around 1 October 2015.
The Placing balance of GBP180,100 (the "Conditional Placing Amount"), representing the issue of 5,145,714 Placing Shares (the "Conditional Placing Shares"), is conditional upon shareholder approval through the passing of certain resolutions to be proposed at a general meeting of the Company to be convened (the "General Meeting") and admission of the Conditional Placing Shares to trading on AIM ("Second Admission"). The Company will despatch in due course a circular to shareholders of SerVision convening a general meeting of the Company. Should shareholder approval of the resolutions at the general meeting not be forthcoming, the Conditional Placing Amount would be returned to the investors.
The Placing price of 3.5 pence represents a 24.3 per cent. discount to the Company's closing mid-market price of 4.625 pence on 24 September 2015, being the latest practicable business day prior to this announcement.
The Placing Shares will represent 20.0 per cent. of the enlarged issued share capital of the Company.
Following First Admission the total enlarged issued share capital of SerVision will be 108,757,895 ordinary shares of 1p each. Until the Second Admission, this 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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Following completion of the Placing there will be 113,903,609 ordinary shares of 1 pence each in the Company in issue.
Gidon Tahan, Chairman and CEO of SerVision, commented, "I am pleased to announce the Company has successfully raised this significant amount of new funding to fulfil its rapidly expanding order book. Over the past 12 months we have seen an encouraging growth in our pipeline, especially in the UK market, which is being served by our new Manchester based office and management team. We believe the prospects for the remainder of 2015 and into 2016 are very promising for the Company."
-ends-
SerVision plc +972 2535 0000 Gidon Tahan, Chairman and CEO Allenby Capital Limited (Nominated Adviser and Joint Broker) +44 (0)20 3328 5656 Nick Athanas / James Reeve Beaufort Securities Limited (Joint Broker) Jon Levinson / Elliot Hance +44 (0)20 7382 8300 Cadogan Leander (Financial PR) Christian Taylor-Wilkinson +44 (0)7795 168 157
Notes to Editors
SerVision is a pioneer in the field of security communications technology and a leading developer and manufacturer of fully integrated video recording and transmission systems for homeland security and transportation applications. The Company's core technology is proprietary video compression which is optimised for streaming real-time video over any type of cellular or narrowband network.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOELIMBTMBITTAA
(END) Dow Jones Newswires
September 25, 2015 02:00 ET (06:00 GMT)
1 Year Servision Chart |
1 Month Servision Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions