Placing
Sarantel Group PLC
07 April 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR
ANY JURISDICTION IN WHICH SUCH PUBLICATION IS UNLAWFUL.
7 April 2008
Sarantel Group PLC
('Sarantel' or the 'Company')
Placing to raise approximately £400,000
Sarantel announces that it has conditionally raised approximately £400,000,
before expenses, from a placing of 13,333,400 A Ordinary Shares of 1 pence each
in the capital of the Company ('A Ordinary Shares') at 3p per share (the
'Placing Shares') with an institutional investor (the 'Placing'). The Placing is
conditional on, amongst other things, the passing of certain resolutions at the
general meeting of the Company and on admission of the new A Ordinary Shares to
trading on AIM.
The net proceeds of the Placing, amounting to approximately £380,000, will
augment the proceeds of the recently announced placing.
Following the proposed Placing, the Company will have 190,936,331 ordinary
voting shares in issue. It is intended that application will be made for the A
Ordinary Shares to be admitted to trading on AIM. Dealings in these shares are
expected to be on 28 April 2008.
Further information:
Sarantel
David Wither, Chief Executive Officer 01933 670 560
Sitkow Yeung, Finance Director
John East & Partners Limited 020 7628 2200
John East/Simon Clements
College Hill 020 7457 2020
Adrian Duffield/ Ben Way
This announcement is for information purposes only and does not constitute an
offer or invitation to acquire or dispose of any securities or investment advice
in any jurisdiction.
John East & Partners Limited, which is authorised and regulated by the Financial
Services Authority, is acting exclusively for the Company and no one else in
connection with the Placing and will not be responsible to anyone other than the
Company for providing the protections afforded to customers of John East &
Partners Limited or for providing advice in relation to the Placing or any
transaction or any other matters referred to herein.
Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser.
The information contained in this announcement is not for release, publication
or distribution, directly or indirectly, to persons in the United States,
Australia, Canada, Japan or the Republic of South Africa or in any jurisdiction
in which such publication or distribution is unlawful. The Placing Shares have
not been and will not be registered under the United States Securities Act of
1933, as amended, or under the laws of any state of the United States. This
announcement does not constitute an offer to sell or issue, or the solicitation
of an offer to buy or subscribe for, securities in the United States, Australia,
Canada, Japan or the Republic of South Africa or in any jurisdiction in which
such offer or solicitation is unlawful and should not be relied upon in
connection with any decision to acquire Placing Shares or other securities in
the capital of the Company. There will be no public offer of Placing Shares in
the United Kingdom or elsewhere.
This information is provided by RNS
The company news service from the London Stock Exchange
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