Placing to raise £135,125
For immediate release
28 November 2011
INTELLEGO HOLDINGS PLC
('Intellego' or 'the Company')
PLACING TO RAISE £135,125
The Board of Intellego, the AIM traded regulatory and compliance focused, digital learning business, are pleased to announce that the Company has raised £135,125 (before expenses) through the placing of 67,562,500 new ordinary shares (the "Placing Shares") at 0.20p per share ("the Placing"). Following the announcement of the acquisition of the Digital Learning Marketplace on 15 November existing institutional investors have continued to support Intellego with this placing, to help fund this initiative. As part of the placing arrangements the Company has agreed to subscribe for 21,915,229 ordinary shares for £90,948 in Athol Gold and Value plc, an investment company, such shares being available to be placed in an orderly fashion on Intellego's behalf at some future date.
The Placing is conditional on admission of the Placing Shares to trading on AIM ("Admission"). Application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective and dealings to commence on or around 1 December 2011.
Following Admission the number of shares in issue will be 649,019,182 Ordinary shares of 0.05 pence per share. This figure may be used by shareholders in the Company 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 Financial Services Authority's Disclosure and Transparency Rules.
Commenting on the transaction Andy Hasoon CEO of IHP said,
'Our shareholders are seeing us execute our strategy and Vision. We are delivering on a number of fronts; we have recruited a new executive team who have a proven track record of building profitable high growth companies. They are putting in place solid scalable foundations. We have re-structured our production into a cost effective, efficient, quality orientated unit. We have begun to recruit a dynamic sales force who focus on customer needs and deliver quality solutions to meet the learning objectives of our blue chip client base. The securing of the Digital Learning Marketplace is another mile post secured.'
For further information:
Intellego Holdings plc
Angus Forrest / Andy Hasoon 020 8977 8744
Beaumont Cornish Limited
Roland Cornish 020 7628 3396
Rivington Street Corporate Finance
Jon Levinson 020 7562 3357
Allenby Capital Limited
Nick Naylor / Nick Athanas 0203 328 5656
Leander (Financial PR) 07795 168 157
NOTES TO EDITORS
Intellego is a digital learning company which specialises in the provision of productivity improvement, compliance and process change using training to provide the solutions. The appropriate solution may be digital learning or instructor lead, or blended learning a mix of the two, to regulated industries and distributed workforces.
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Source: Intellego via Thomson Reuters ONE