Embargoed for release at 7.00 a.m. on
13 May, 2005
Eurovestech Plc ('Eurovestech')
Cjudge Limited IPO: Near eightfold increase against Eurovestech's cost of
investment
Eurovestech is pleased to announce that ToLuna plc ('ToLuna'), the new holding
company for Cjudge Limited, a company in which Eurovestech currently holds a
79.4 per cent. interest, has completed an institutional placing of new ordinary
shares at 70p per share to raise £5 million before expenses, conditional upon
admission of its shares to trading on AIM. At the placing price ToLuna will be
valued at £25.04 million on admission. Following the placing, Eurovestech will
own 63.5 per cent. of ToLuna's issued share capital , which values
Eurovestech's shareholding in ToLuna at £15.9 million; the present carrying
value in Eurovestech's accounts is £2 million.
ToLuna has issued a ten day notice to AIM of its intention to seek admission of
its shares to trading on AIM and dealings in ToLuna's shares are expected to
commence on 25 May 2005.
Commenting on the proposed admission to AIM, Richard Bernstein, Chief Executive
of Eurovestech, commented: `We are delighted with both the level and quality of
institutional support in ToLuna. We believe that this will allow ToLuna to
accelerate its development and profitability in the rapidly growing European
online data collection market. We are also pleased that the placing price is
equivalent to a near eightfold increase against our cost of investment over the
last five years.'
ToLuna's core pan-European business is the creation of online survey access
panels and hosted technology solutions for market research professionals.
Internet survey solutions are widely regarded as being more cost-effective,
efficient and quicker than traditional market research methods.
Further enquiries:
Eurovestech Plc
Richard Bernstein
Chief Executive Tel: 020 7 491 0770
John East & Partners Limited
John East/David Worlidge Tel: 020 7628 2200
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.