RUBI Rubicon Divers.

TIDMRUBI

RNS Number : 4054I

Rubicon Diversified Investments PLC

24 July 2012

24 July 2012

RUBICON DIVERSIFIED INVESTMENTS PLC

('Rubicon' or the 'Company')

Completion of GBP5.5 million Placing and Head of Terms for GBP5 million EFF

Rubicon (AIM:RUBI) announces that the Company has raised GBP5.50 million gross by way of a placing (the "Placing") of 137,500,000 ordinary shares (the "Placing Shares") at 4 pence per share (the "Placing Price") with institutional and other investors.

The Company has also signed Heads of Terms with Darwin Strategic Limited ("Darwin") for the provision of a GBP5 million Equity Financing Facility ("EFF"), over a period of 36 months. The subscription price of any draw down on the EFF will be at a 5% discount to an agreed reference price determined during 15 trading days immediately following the delivery of a draw down notice. Any exercise of the draw down shall have a volume commitment of a minimum of four times the average daily volume traded in Rubicon shares during the 15 days prior to activation, subject to certain restrictions which are yet to be finalised. A further announcement will be made describing the terms of the EFF in more detail, once the final agreement has been entered into.

Darwin is a majority owned subsidiary of Henderson Global Investors' Alphagen Volantis fund.

Net proceeds of the Placing amounting to approximately GBP5.23 million and any funds subsequently raised via the EFF will be used to further the Company's proposed launch of FastJet in Africa and for general working capital purposes.

Admission & Placing Statistics

Application has been made for the placing shares to be admitted to trading on AIM, which is expected to occur on the 2(nd) August 2012.

The Placing Shares represent approximately 10.5 per cent. of the Company's existing Ordinary Shares and will, when issued, represent approximately 9.5 per cent. of the Company's share capital as enlarged by the placing.

Following Admission of the placing Shares, the Company will have 1,449,330,135 Ordinary Shares in issue. This figure may be used by Shareholders, from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Ed Winter, Rubicon CEO, commented:

"The additional funding will strengthen the Company's balance sheet and should increase the ability to lease aircraft on better commercial terms and assist with the roll out of the Airbus A319 fleet in Africa. The first A319 is scheduled for delivery in October."

For further information please contact:

Rubicon Diversified Investments Plc Tel: +44 (0) 20 7887 1421

Ed Winter

David Lenigas

Geoffrey White

Richard Blakesley

   Citigate Dewe Rogerson (on behalf of Rubicon and FastJet)           Tel: +44 (0) 20 7638 9571 

Angharad Couch

Sally Marshak

Eleni Menikou

W.H. Ireland Ltd. Tel: +44 (0) 20 7220 1666

James Joyce

Nick Field

This information is provided by RNS

The company news service from the London Stock Exchange

END

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Rubicon Software (LSE:RUBI)
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