Statement re Placing


 

TIDMNTX 
 
RNS Number : 7198H 
NXT PLC 
26 February 2010 
 

                                                                26 February 2010 
                        NXT plc ("NXT" or the "Company") 
                                    Placing 
NXT plc, a provider of unique sound solutions, best known for its flat panel 
loudspeaker technology, is pleased to announce a placing of 7,481,561 new 
ordinary shares of 1 pence each (the "New Ordinary Shares") to raise 
approximately GBP1 million (before expenses) (the "Placing"). The Placing is 
being priced at 13 pence per New Ordinary Share representing a discount of 7.1 
per cent. to the closing share price on 24 February 2010. 
The New Ordinary Shares have been placed with Nissha Printing Co. Ltd. 
("Nissha"), a licensing partner to NXT, several institutional investors and the 
directors of the Company and the proceeds of the Placing will be used to 
strengthen the Company's balance sheet. 
Peter Thoms, NXT Chief Executive, said: "The objective of this fundraising is to 
ensure sufficient resources to exploit the momentum we have built in both our 
TouchSound and BMR technologies. TouchSound enables both audio and tactile 
feedback from a touch screen. We are very pleased with the demand from 
institutions and our licensing partner, Nissha and this exercise to strengthen 
our balance sheet has also helped us to expand our institutional shareholder 
base." 
The Placing was undertaken pursuant to a resolution of the shareholders at the 
Company's Annual General Meeting in November 2009 which approved the 
disapplication of shareholders' pre-emption rights in relation to the issue of 
equity securities up to an aggregate nominal amount of GBP74,815.61. 
Application has been made to the Financial Services Authority for the new 
ordinary shares to be admitted to the Official List and to the London Stock 
Exchange for the new ordinary shares to be admitted to trading on the London 
Stock Exchange's main market for listed securities.  The placing is conditional 
upon admission, which is expected to become effective, and dealings in the new 
ordinary shares will commence at 8.00 am on 3 March 2010.  The placing shares 
will, when issued, rank pari passu in all respects with the existing ordinary 
shares. Following admission of the New Ordinary Shares it is expected that the 
Company will have 158,620,155 ordinary shares in issue. 
For further information, please contact: 
+-------------------------------+-----------------+ 
| NXT PLC                       |    +44 (0) 1223 | 
|                               |         597 840 | 
+-------------------------------+-----------------+ 
| Peter Thoms, Chief Executive  |                 | 
| Officer                       |                 | 
+-------------------------------+-----------------+ 
| Kate Barnes, Finance Director |                 | 
+-------------------------------+-----------------+ 
|                               |                 | 
+-------------------------------+-----------------+ 
| Singer Capital Markets        | +44 (0) 20 3205 | 
|                               |            7500 | 
+-------------------------------+-----------------+ 
| Shaun Dobson                  |                 | 
+-------------------------------+-----------------+ 
| Claes Spång                   |                 | 
+-------------------------------+-----------------+ 
|                               |                 | 
+-------------------------------+-----------------+ 
| Allerton Communications       | +44 (0) 20 3137 | 
|                               |            2500 | 
+-------------------------------+-----------------+ 
| Peter Curtain                 |                 | 
+-------------------------------+-----------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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