Issue of Equity

RNS Number : 5339X

Kuala Innovations Limited

01 September 2015

 



1 September 2015

Kuala Innovations Limited

("Kuala" or the "Company")

Issue of Equity

Kuala Innovations Limited (AIM: KUL) is pleased to announce that the Company has placed 2,000,000 new ordinary shares of 1p each (the "Placing Shares") at a price of 5 pence per ordinary share with a number of new investors raising £100,000 (the "Placing"). The proceeds of the Placing will be used to assist the Company in making investments in accordance with its investing policy.

The Placing Shares will rank pari passu with the existing Ordinary Shares and application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares will commence by 8.00 a.m. on 4 September 2015.

In addition, the Company notes that it is in advanced discussions with a further single strategic investor with regards the placing of up to a further 2,000,000 new shares of the Company at a price of £0.05 per share.  A further announcement in this regard will be made in due course.

Following Admission of the Placing Shares, the Company's enlarged issued share capital will consist of 33,050,939 ordinary shares with voting rights. This number may be used by shareholders, following the Placing, 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 Conduct Authority's Disclosure and Transparency Rules.

For further information please visit www.kualainnovations.com or contact:

James Biddle (Nomad) Beaumont Cornish Limited Tel: [phone] Peterhouse Corporate Finance Limited Guy Miller/ Lucy Williams Tel: [phone]

Elysium Fund Management Limited PO Box 650 1st Floor Royal Chambers St Peter Port Guernsey GY1 3JX Tel: [phone] Fax: [phone] e-mail: [e-mail]

 

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