Placing

RNS Number : 2164F

Kuala Innovations Limited

10 November 2015

 

10 November 2015

Kuala Innovations Limited

("Kuala" or the "Company")

Placing

Kuala Innovations Limited (AIM: KUL) is pleased to announce that the Company has today placed 8,187,500 new ordinary shares of 1p each (the "Placing Shares") at a price of 8 pence per ordinary share with a number of new investors thereby raising £655,000 before expenses (the "Placing"). The proceeds of the Placing will be used to assist the Company in making investments in accordance with its investing policy and for general working capital purposes.

The Placing Shares will rank pari passu with the existing Ordinary Shares and application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"). The Placing is conditional, inter alia, on admission of the Placing Shares to trading on AIM ("Admission") and it is expected that Admission will become effective and dealings in the Placing Shares will commence by 8.00 a.m. on 17 November 2015.

In addition, the Company is in advanced discussions with new and existing investors regarding a further placing on the same terms as the Placing and expects to conclude this further placing following the publication of the Company's interim accounts for the six months ended 30 September 2015.

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 50,184,919 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/ Michael Cornish (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]

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Kuala Innovations Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Kuala Innovations Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

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