Placing (4077B)

TIDMTOU

RNS Number : 4077B

Touch Group PLC

17 February 2011

17 February 2011

Touch Group plc ("Touch" or the "Company")

Placing

PLACING

Touch Group plc is pleased to announce that it has successfully raised GBP725,000 before expenses by way of a placing of 48,333,333 new ordinary shares of 1p each in the capital of the Company ("new Ordinary Shares") at 1.5 pence ("Placing Price") per new Ordinary Share (the "Placing").

The net proceeds of the Placing will be used to enhance and extend our digital assets which should speed the development of the Company's Medical Education and Communications Division and expand our Pharma and Energy Divisions.

The new Ordinary Shares to be issued pursuant to the Placing will rank pari passu in all respects with the existing issued ordinary share capital of the Company. These new Ordinary Shares have been allotted conditionally upon being admitted to trading on AIM by no later than 4 March 2011. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 23 February 2011.

HOLDINGS ON COMPLETION OF THE PLACING

Set out below are the current interests of the shareholders and directors participating in the Placing, the number of new Ordinary Shares taken up by those shareholders and directors pursuant to the Placing and their aggregate interests in the Company's issued share capital following completion of the Placing.

 
                                             Aggregate         Following the 
                                             interests            Placing 
                       Number of new         following       percentage of the 
                       Ordinary Shares   completion of the    enlarged issued 
    Shareholder         being issued          Placing          share capital 
   Schroder 
    Investment 
    Management 
    Limited                  6,666,667          35,816,667              17.04% 
   Herald 
    Investment 
    Management 
    Limited                  8,000,000          30,226,212              14.38% 
   The J Isaacs 
    Charitable 
    Trust                   18,400,000          25,900,000              12.32% 
   Martin Reuben             1,666,666           8,668,666               4.12% 
 
 Directors 
   Vincent Isaacs                    0          28,596,859              13.61% 
   Stuart Winship            1,000,000           1,762,500               0.84% 
   Peter Katz                  933,333           1,466,376               0.70% 
   Tim Green                   666,667             872,243               0.41% 
   Neil Brown                        0             312,500               0.15% 
 

CHANGES IN SIGNIFICANT SHAREHOLDINGS

The following significant shareholders are not participating in the Placing and will, as a result of the Placing, have their shareholdings diluted through a percentage point:

 
                                                               Following the 
                                                                  Placing 
                                         Percentage of the   percentage of the 
                                          current issued      enlarged issued 
    Shareholder       Number of Shares     share capital       share capital 
   Jeremy Michael 
    Isaacs Family 
    Settlement               8,000,000               4.94%               3.81% 
   Nick Slater               9,375,000               5.79%               4.46% 
   Edwards Family 
    Holdings 
    Limited                  6,000,000               3.71%               2.85% 
 

TOTAL VOTING RIGHTS

Following the Placing, the issued share capital of the Company will increase by 29.86 per cent to 210,191,921 Ordinary Shares of 1p each. In accordance with the Disclosure and Transparency Rules, the Company confirms that its issued share capital will comprise 210,191,921 Ordinary Shares of 1p each. 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 Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).

Vincent Isaacs, Executive Chairman of Touch, stated:

The time required to build and develop a complex business such as Touch Group plc was under-estimated. However, our major shareholders have recognised this fact and have supported our development over the past three years unstintingly.

From the basis of a now stable infrastructure, the main assets we have built are an intellectual sales force and technical teams, coupled with a wholly owned world-class library of journals, medical and energy papers, both online and in print. None of these assets are reflected on our balance sheet.

The Placing which has just been completed will enable us to provide further technical resource for our sales force and technical teams, bringing forward anticipated benefits.

For further information please contact:

Touch Group plc

Vincent Isaacs

Executive Chairman

Tel: [phone]

Shore Capital and Corporate Limited

Nominated Adviser to the Company

Andrew Raca/Edward Mansfield

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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