Block Admission Update and Issue of Equity

RNS Number : 3077T

Synchronica PLC

05 December 2011

 



Synchronica plc

BLOCK ADMISSION UPDATE

AND ISSUE OF EQUITY

Synchronica plc ("Synchronica" or "the Company") (AIM:SYNC; TSX VENTURE:SYN) the international provider of next-generation mobile messaging solutions, is pleased to provide the following update relating to its block admission of 29,300,000 new ordinary shares of 15p each to be issued in relation to the North American share placing announced on 30 June 2011.

Under the North American share placing, Canadian brokers placed subscription receipts representing 29,300,000 new ordinary shares in the Company ("New Ordinary Shares") and 14,650,000 warrants with investors. 

On 29 July 2011, 127,942,089 ordinary shares (comprising 98,188,058 existing ordinary shares and 29,754,031 new ordinary shares which were the subject of a UK share placing) were admitted to trading on AIM and the New Ordinary Shares, to be issued on conversion of the aforementioned subscription receipts, were the subject of a Block Admission.  The warrants will not be listed.

Under the North American share placing, it was anticipated that a prospectus would be prepared and filed by 30 September 2011 to register the New Ordinary Shares under Canadian securities laws.  This deadline was not achieved and, as agreed, the number of new ordinary shares and warrants to be issued on conversion of the subscription receipts was increased by 5 per cent, representing 0.9 per cent of the Company's total issued share capital.  30,765,000 new ordinary shares and 15,382,500 warrants have now been issued on conversion of the subscription receipts.

Application has been made to the London Stock Exchange for 1,465,000 new ordinary shares ("Further Ordinary Shares"), being the additional shares to be issued on conversion of the subscription receipts, to be admitted to trading on AIM ("Admission").  It is expected that Admission will be effective and that dealings in the Further Ordinary Shares will commence on 6 December 2011.

The New Ordinary Shares and the Further Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.  The enlarged issued ordinary share capital of the Company will now consist of 158,707,089 ordinary shares of 15p each with one voting right per share.  There are no shares held in Treasury.

For further information :

Synchronica plc
www.synchronica.com	Angus Dent, CEO	[phone]
Northland Capital Partners
(Nominated Adviser)	Shane Gallwey/Rod Venables	[phone]
(Corporate Broker)	Katie Shelton/ Alice Lane	[phone]
Walbrook PR Limited		[phone]
(media enquiries)	Paul McManus	[e-mail]
(investor enquiries)	Paul Cornelius	[e-mail]

About Synchronica

Synchronica plc is a leading developer of next-generation mobile messaging solutions based on open industry standards. The award-winning product portfolio includes the flagship product Mobile Gateway, providing push email, synchronisation, instant messaging, backup & restore and mobile connectivity to social networks. Synchronica's products are white-labelled and offered by mobile operators in emerging and developed markets to provide mass-market messaging services, increasing data revenues and reducing churn.

Synchronica's Mobile Gateway provides a unique multi-protocol gateway combining Push IMAP, SyncML, ActiveSync, Email-to-MMS and Email-to-SMS, delivering push email and synchronisation to literally any mobile phone currently in the market without requiring an additional client to be downloaded. Expanding Instant Messaging to mobile devices, Mobile Gateway establishes carrier-branded IM communities using the industry-standard XMPP and provides gateways to popular Internet IM communities connecting any IMPS enabled handset.

Headquartered in England, Synchronica also maintains development centres in Germany and the Philippines, in addition to a regional presence in Canada, the USA, Hong Kong, Spain, and Dubai. Synchronica plc is a public company which is traded on the AIM list of the London Stock Exchange (SYNC.L), and the Venture Exchange of the Toronto Stock Exchange (SYN.V). For further information, please visit www.synchronica.com

 

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