Information  X 
Enter a valid email address

Knowledge Technology (ARC)

  Print      Mail a friend       Annual reports

Monday 24 May, 2004

Knowledge Technology

Placing

Knowledge Technology Solutions PLC
24 May 2004


RNS Release

24 May 2004

                       Knowledge Technology Solutions PLC

                                    Placing


Knowledge Technology Solutions PLC ('KTS' or the 'Company') today announces that
28,571,430 new Ordinary Shares of 0.1p each have been conditionally placed with
institutional and other investors at a price of 7.0 pence per share.  Once
completed, this placing will raise approximately £1.9 million net of expenses
for the Company.

These 28,571,430 new Ordinary Shares of 0.1 pence each will rank pari passu with
all other Ordinary Shares now in issue.  Application has been made for these new
shares to be admitted to trading on AIM and admission is expected to occur on 27
May 2004.

The net proceeds of the placing will be used to:

- Accelerate the roll-out of ktsMarketTerminal, the international live
financial news and data service, which was launched on 20 May 2004; and

- Strengthen the Company's working capital position.

The placing is conditional upon admission of the new shares becoming effective
on or before 27 May 2004 (or such later date as the Company and KBC Peel Hunt
Ltd may agree, being no later than 4 June 2004).

Following admission, the enlarged issued share capital of the Company will be
148,014,732 Ordinary Shares of 0.1p each.

KTS Chief Executive, Dr Marc Pinter-Krainer, said:

'Following the recent successful launch of ktsMarketTerminal, our international
live financial news and data service, the new funds provide KTS with additional
financial strength to accelerate its roll out.  We are very pleased to welcome
our new shareholders.'

Enquiries, please contact:

Dr Marc Pinter-Krainer                   Neil Boom/Jenny Leahy
Knowledge Technology Solutions PLC       Gresham PR Ltd.
020 8795 2700                            020 7404 9000

Oliver Scott
KBC Peel Hunt Ltd.
020 7418 8900









                      This information is provided by RNS
            The company news service from the London Stock Exchange