Petards Group PLC Result of Placing (5086R)

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RNS Number : 5086R

Petards Group PLC

20 November 2012

PETARDS GROUP PLC

("Petards" or the "Company")

Result of Placing

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has completed the Placing of the 1,346,298 New Ordinary Shares not subscribed for in its recent Open Offer at 25 pence per New Ordinary Share.

These 1,346,298 shares together with the 3,153,047 shares subscribed for in the Open Offer means that in aggregate the Company will be issuing 4,499,345 New Ordinary Shares and has raised approximately GBP1.125 million (before expenses).

Application has been be made to the London Stock Exchange for the 4,499,345 New Ordinary Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 22 November 2012. The new Ordinary Shares will rank pari passu with the Existing Ordinary Shares.

Andy Wonnacott (Finance Director) and Terry Connolly (Non-executive Director) received 20,000 and 30,000 New Ordinary Shares in the Placing and Bill Conn (Non-executive Director) subscribed for 21,201 New Ordinary shares in the Open Offer. As a result their total shareholdings in the Company's enlarged issued share capital are as follows:

 
     Name                  Number of Ordinary       Percentage of enlarged 
                            Shares held              issued share capital 
--------------------  -----------------------  --------------------------- 
     Andy Wonnacott        20,000                   0.18 
--------------------  -----------------------  --------------------------- 
     Terry Connolly        30,000                   0.28 
--------------------  -----------------------  --------------------------- 
     Bill Conn             51,201                   0.47 
--------------------  -----------------------  ---------------------------

Application has been be made to the London Stock Exchange for the 4,499,345 New Ordinary Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 22 November 2012. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares.

In accordance with the provisions of the Disclosure and Transparency Rules of the Financial Services Authority, the Company confirms that, following this issue, its issued share capital will comprise 10,866,445 Ordinary Shares of 1p each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 10,866,445.

All capitalised terms in this announcement are as defined in the Circular of the Company dated 26 October 2012 copies of which are available on the Company's website www.petards.com.

For further information:

 
     Petards Group plc                      www.petards.com 
     Andy Wonnacott, Finance Director       Tel: 0191 420 3000 
 
     WH Ireland Limited                     www.wh-ireland.co.uk 
     Mike Coe / Marc Davies                 Tel: 0117 945 3470

This information is provided by RNS

The company news service from the London Stock Exchange

END

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