Subscription to raise £1.92m
7 May 2015
1Spatial plc (AIM: SPA)
("1Spatial", the "Company" or the "Group")
Subscription to raise £1.92m
1Spatial, the global spatial software and solutions company which manages the world's largest spatial data, is pleased to announce that it has placed, via its broker N+1 Singer, 42,400,000 existing ordinary shares (the "Existing Shares") with, and issued 32,000,000 new ordinary shares in the capital of the Company (the "Subscription Shares") to Azini Capital Partners LLP ("Azini").
The Subscription Shares are being subscribed for by Azini at a price of 6p per share, raising total gross proceeds of £1.92m for the Company. The subscription price of 6p represents a premium of 6.7 per cent. to the Company's mid-market closing price of 5.625p on 6 May 2015, being the last business day prior to release of this announcement. Following the transfer to Azini of the Existing Shares, from certain existing shareholders in the Company, and the issue of the Subscription Shares, Azini will hold a total of 74,400,000 ordinary shares in the capital of the Company, representing a 10.9 per cent. holding in the share capital of 1Spatial, as enlarged by the issue of the Subscription Shares.
Marcus Hanke, Chief Executive Officer of 1Spatial, commented:
"We're extremely pleased to welcome an investor of this calibre as a shareholder; a significant vote of confidence in our evolving business model as we apply our core technology to broader markets. As a specialist technology investor, the Board welcomes Azini and looks forward to the future with confidence."
Application will be made to the London Stock Exchange for admission to trading on AIM of the Subscription Shares and dealings are expected to commence on 21 May 2015. Following admission of the Subscription Shares, the Company will have a total of 682,415,354 ordinary shares in issue, with each ordinary share carrying the right to one vote.
- End -
For further information, please contact:
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1Spatial plc |
0203 427 5004 |
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Marcus Hanke / Claire Milverton |
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N+1 Singer |
020 7496 3000 |
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Shaun Dobson / Lauren Kettle |
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FTI Consulting |
020 3727 1000 |
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Dwight Burden / Alex Le May / Karen Tang |
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About 1Spatial
1Spatial provides the software solutions and services that manage the world's largest spatial big data. We work with users and creators of the largest geospatial databases on earth, helping them collect, manage, plan, maintain, publish and interpret location-specific information.
Our clients include National Mapping Agencies, Land Registries, utility and telecommunications companies, and government departments including emergency services, defence and census bureaus.
A leader in our field, we have over forty five years' experience and a record of continual innovation and development. Today, with an ever increasing reliance on spatial and location-critical data, demand for our expertise has never been greater.
To find out more, visit www.1spatial.com
This information is provided by RNS
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