Pelatro PLC Result of Placing (2031W)

TIDMPTRO

RNS Number : 2031W

Pelatro PLC

30 July 2018

30 July 2018

THIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OF ITS TERRITORIES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR AUSTRALIA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014. ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Pelatro Plc

("Pelatro" or the "Company")

Result of Placing

Pelatro Plc (AIM: PTRO), the global precision marketing software specialist, is pleased to announce that, further to the announcement made earlier today, the Company has successfully raised gross proceeds of approximately GBP6.0 million consisting of 2,092,055 EIS/VCT Placing Shares and 6,127,124 General Placing Shares, both at a price of 73 pence per New Ordinary Share (the "Issue Price"). The Issue Price represents a discount of approximately 14.6 per cent to the closing mid-market price of an Ordinary Share of 85.5 pence on 27 July 2018.

General Meeting and Admission

The Placing is conditional, inter alia, upon the passing of the Resolutions at the General Meeting to be held on 15 August 2018 and the Acquisition is conditional, inter alia, on Admission and is expected to complete on 17 August 2018.

Upon Admission, the Enlarged Issued Share Capital is expected to be 32,532,431 Ordinary Shares. On this basis, the New Ordinary Shares will represent approximately 25.3 per cent. of the Company's Enlarged Issued Share Capital.

Application will be made for the 8,219,179 New Ordinary Shares to be admitted to trading on AIM. Subject to the Resolutions having been passed and the Placing Agreement not having been terminated in accordance with its terms, it is anticipated that:

-- admission of the 2,092,055 EIS/VCT Placing Shares will occur at 8.00 a.m. on or around 16 August 2018; and

-- admission of the 6,127,124 General Placing Shares will occur at 8.00 a.m. on or around 17 August 2018.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released earlier today unless the context requires otherwise.

Enquiries:

 
 Pelatro Plc                                                                              C/O IFC 
  Subash Menon, Managing Director 
  Nic Hellyer, Finance Director 
 finnCap Limited (Nominated Adviser and 
  Broker) 
  Adrian Hargrave / Kate Bannatyne (Corporate 
  Finance) 
  Stephen Norcross / Nikita Jain (Corporate 
  Broking)                                                                    [phone] 
  IFC Advisory Limited (Financial PR & IR) 
   Tim Metcalfe / Miles Nolan / Zach Cohen                                    [phone] 
 

Notes to Editors

Pelatro provides precision marketing software for use by its customers in B2C applications, with a current focus on providing multi channel campaign management software to Telcos that provides a contextualised, relevant and personalised solution for end users.

Pelatro's precision marketing solution, mViva, uses Big Data analytics to study growing end user data to reveal patterns, trends, associations and key behavioural traits. mViva then applies algorithms to analyse this data and to identify patterns for each end user. Based on this analysis, relevant offers (which can include additional services or customised campaigns) are made to end users through a variety of channels like SMS, email and apps. mViva allows customers to generate smaller relevant segments of end users, which can be as small as one end user. By using mViva's targeted approach, Pelatro's customers have experienced an increase of up to 5 per cent. of annual incremental revenue per end user through the upselling of products.

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July 30, 2018 10:10 ET (14:10 GMT)