Issue of Equity

RNS Number : 5819M

Avisen PLC

26 May 2010

 



Avisen PLC ("Avisen" or the "Company")

Issue of Equity

Further to the announcements on 17 July 2009 and 14 August 2009 in connection with the acquisition by Avisen of the entire issued share capital Inca Holdings Limited (the "Acquisition"), the Company announces that it has issued and allotted 655,737 Ordinary Shares of 5 pence each (the "New Shares") to Richard Kieron Dillon and Wendy Ruth Dillon at a price of 15.5 pence per Ordinary Share, being the closing mid-market price on the dealing day immediately prior to completion of the Acquisition. The number of New Shares issued represents 0.3% of the enlarged issued share capital of the Company.

The issue and allotment of the New Shares is in consideration for the cancellation of all loan stock held by Mr and Mrs Dillon pursuant to a Deed dated 26 September 2005 relating to £250,000 10% Convertible Unsecured Loan Stock 2005.

An application for admission of the New Shares to trading on AIM has been submitted and trading is expected to commence on 2 June 2010.

The total number of Ordinary Shares in issue following the issue of the New Shares is 225,269,190.

For further information, please contact:

Avisen PLC Marcus Hanke, CEO Claire Milverton, Interim CFO	0870 880 2978
Brewin Dolphin Matt Davis Neil McDonald	0845 213 1000
Bishopsgate Communications Gemma O'Hara Siobhra Murphy	020 7652 3350

 

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