Published on 5/14/2009 in the Prospect News PIPE Daily.
New Issue: Innovation announces plans for £5.07 million private placement of ordinary shares
By Devika Patel
Knoxville, Tenn., May 14 - Innovation Group plc said it hopes to raise £5.07 million in a private placement of shares.
The company will sell 63,411,814 ordinary shares at 8p apiece.
Investec is the broker.
Proceeds will be used as working capital.
Innovation Group is a Whiteley, England-based software and outsourcing services provider.
| Issuer: | Innovation Group plc
|
| Issue: | Ordinary shares
|
| Amount: | £5,072,945.12
|
| Shares: | 63,411,814
|
| Price: | 8p
|
| Warrants: | No
|
| Broker: | Investec
|
| Pricing date: | May 14
|
| Stock symbol: | London: TIG
|
| Stock price: | 8.05p at close May 14
|
| Market capitalization: | £49.9 million
|
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