Funds to be used for company's research and development activities
By Marisa Wong
Madison, Wis., Nov. 12 - RCG Holdings Ltd. has entered into subscription agreements with existing institutional investors Pari Capital Group AG and Butler Capital Ltd. to issue £3.36 million of new ordinary shares, according to a press release.
RCG will issue 10.5 million ordinary shares at 32.03p per share, which represents a 3.32% premium to the 31p closing share price on Nov. 11.
Proceeds will be used to fund the company's research and development activities.
"We are delighted with the ongoing support of institutional shareholders, who have continued to participate in RCG's growth story via the subscription. This demonstrates the institutions' support and confidence in RCG's future prospects," said chief executive officer Dato' Lee Boon Han in the release.
RCG is a Hong Kong-based provider of integrated biometrics and RFID security solutions.
| Issuer: | RCG Holdings Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £3.36 million
|
| Shares: | 10.5 million
|
| Price: | 32.03p
|
| Warrants: | No
|
| Investors: | Pari Capital Group AG and Butler Capital Ltd.
|
| Stock symbol: | London: RCG
|
| Stock price: | 30.25p at close Nov. 12
|
| Market capitalization: | £88.02 million
|
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