Placing

RNS Number : 1657Z

Immersion Technologies Intl PLC

16 July 2008

 



16 July 2008

Immersion Technologies International plc 

('Immersion Technologies' or 'the Company')

£185,000 Equity Placing

The Company is pleased to announce that it has placed 18,500,000 ordinary shares of 0.7p each in the capital of the Company at a price of 1p per ordinary share ('Placing Shares') with certain investors (the 'Placing').

Pursuant to the Placing, participants have additionally been granted one warrant to subscribe for an additional ordinary share in Immersion Technologies for every two new ordinary shares subscribed in the Placing. These warrants are exercisable at 1.5p per share for a period of five years from the date of admission of the Placing Shares to trading on AIM.

The Placing proceeds of £185,000 will further enable the Company to continue to provide the necessary working capital for its growing range of products and development of those products.

The Placing Shares will represent approximately 7.5 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Placing Shares to trading on AIM. It is expected that dealings in the Placing Shares will commence at 8.00 a.m. on 22 July 2008.

The total number of shares in issue and therefore the total number of voting rights following completion of the Placing will be 246,724,634.

ENDS

For further enquiries:

Immersion Technologies International plc
David Lenigas, Chairman	Tel: [phone]
Kiran Morzaria	Tel: [phone]
Nabarro Wells & Co. Limited – Nominated Adviser
Hugh Oram	[phone]
St. Helens Capital – Nominated Broker
Ruari McGirr	[phone]
Pelham Public Relations
Archie Berens	[phone] / [phone]

 

END

 

 

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