By Sheri Kasprzak
Atlanta, Feb. 9 - Delling Group plc said it has closed a private placement of stock for £1.3 million.
The company sold 8,666,667 new common shares at 15p each to new and existing institutional investors.
Seymour Pierce Ltd. was the placement agent in the offering.
The company has applied for the shares sold in the deal to be traded on the AIM market. The new shares will rank pari passu with existing ordinary shares. Those dealings are expected to begin Feb. 15.
In other news, Delling said it has published details about investment agreements for two and five years. The board said it believes the agreements have a combined value of more than £3.7 million per year in revenue.
Delling Group, based in London, provides support services to marketing departments of small- to mid-sized companies, as well as production management and internet technology services. It plans to use the proceeds from the private placement to fund potential acquisitions.
| Issuer: | Delling Group plc
|
| Issue: | Stock
|
| Amount: | £1.3 million
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| Shares: | 8,666,667
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| Price: | 15p
|
| Warrants: | No
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| Placement agent: | Seymour Pierce Ltd.
|
| Settlement date: | Feb. 9
|
| Stock price: | 16p at close Feb. 8
|
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