Northern Bear Plc
31 May 2007
For Immediate Release
31 May 2007
Northern Bear Plc
('Northern Bear' or 'the Company')
Placing of new Ordinary Shares
The Company is pleased to announce that it has raised £385,000 through a placing
of 275,000 new Ordinary Shares at 140 pence per share. This represents a
discount of 4.4 per cent. to the mid market closing price of 146.5 pence, at the
close of business on 30 May 2007.
The new Ordinary Shares represent 2.1 per cent. of the 13,321,583 Ordinary
Shares now in issue. The Placing is conditional only upon the admission of the
new Ordinary Shares to trading on AIM and the proceeds of the Placing will be
used to assist in the funding of the expansion of the business.
Application has been made for the admission of the new Ordinary Shares to
trading on AIM, it is anticipated that trading will commence on 4 June 2007. The
new Ordinary Shares will rank in full for all dividends or other distributions
made, paid or declared after admission and pari passu in all other respects with
the existing Ordinary Shares.
For further Information contact:
Northern Bear PLC
Graham Forrest, Chief Executive Officer Tel: +44 (0) 191 371 2934
Dawnay, Day Corporate Finance Limited
Alex Stanbury Tel: +44 (0) 207 509 4570
Paul Cocker Tel: +44 (0) 207 509 4570
This information is provided by RNS
The company news service from the London Stock Exchange
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