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Worldlink Group Plc (WGP)

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Friday 23 March, 2012

Worldlink Group Plc

Issue of Equity

RNS Number : 9912Z
Worldlink Group Plc
23 March 2012
 



 

For release: 23 March 2012

REGULATORY ANNOUNCEMENT

Worldlink Group plc (WGP-L) (the "Company"), a listed company with patented technology covering the transmission and receiving of changing data on all mobile devices, is pleased to announce that it has raised approximately £350,000, before expenses, through the issue of 2,261,865 new ordinary shares of 1p each in the Company ("Ordinary Shares") at 15.5p per share, together with the conversion of certain debts and obligations owed by the Company into a further 17,155,859 new Ordinary Shares. The Company has today registered 19,417,724 new Ordinary Shares for admission to trading on the standard list of the London Stock Exchange.  This issue of new shares increases the Ordinary Shares admitted to trading to 42,036,383.

These shares have been issued and allotted as follows;

1.    2,261,865 shares at an average price of 15.5 per share to provide additional working capital of approximately £350,000;

2.    15,701,430 new Ordinary Shares at a price of 17 per share to satisfy certain debts owed by the Company to present and past employees and directors of approximately £2.7m;

3.    161,095 new Ordinary Shares following the conversion of the convertible loan stock issued in April 2011 at a conversion price of 90p; and

4.    1,293,334 new Ordinary Shares to replace shares previously loaned to the Company by directors which were sold and the proceeds invested in the Company.

 

Pursuant to the issue of new Ordinary Shares set out above, the following directors' interest in the Company are:


Initial Shareholding

New Shares

New Shareholding

New Shareholding %

Neil Riches

            2,244,727

               9,647,822

             11,892,549

28.3%

Crispin Burdett

            1,329,883

               4,879,262

               6,209,145

14.8%

Anthony Fish

                     1,420

               1,196,971

               1,198,391

2.9%

 

Neil Riches commented, "We are delighted to announce that we have both raised new funds for the Company as well as convert a significant debt of £2.7m. The board regard this as a significant vote of confidence in the development of Worldlink.  We have taken the opportunity to tidy up other outstanding matters at the same time putting ourselves on a sound footing to move forward with several exciting opportunities that we are currently working on and we will update shareholders in due course."

 

 

 

 

For further information please contact:

 

Neil Riches                                                                                          01737 221 078

Managing Director

Worldlink Group Plc

 

Jon Belliss                                                                                            020 7101 7070

XCAP Securities plc.

Broker

 

Mike Wort/Anna Dunphy                                                              0207 556 1063/4

De Facto Financial

 

Notes to Editors

About Worldlink

Worldlink is one of the UK's leading real-time mobile applications companies with patented technology that allows information held on the mobile device to be updated automatically without the need for a manual refresh. Information is delivered via a mobile telecommunications network in real time, whilst intelligently minimising the bandwidth required to transmit the data.  The technology is patent protected in the US and UK and is patent pending in Europe.

 

Worldlink has already licensed its patents to leading institutions in the financial and technology sectors and is furthering this process in the UK, Europe, and the US, where partnerships have already been put into place.

For more information about Worldlink and its businesses please visit www.worldlink-data.com.

 

 

 

 

 

 


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