FFastFill Announcements

Placing Announcement

19 November 2008 07:01:07



RNS Number : 4412I FFastFill PLC 19 November 2008  
?

19 November 2008 
FFastFill plc

("FFastFill" or the "Company")
Proposed Placing of 15,384,615 Placing Shares at 6½ pence per share
FFastFill plc, (AIM: FFA) a leading provider of Software as a Service ("SaaS") solutions to the electronic financial community, announces today that KBC Peel Hunt has conditionally placed 15,384,615 new ordinary shares of 1p each in the Company ("Placing Shares") at a Placing Price of 6½ pence per share (the "Placing Price") to raise approximately £1 million (the "Placing").  The Placing Shares will represent 3.9 per cent. of the enlarged issued share capital of the Company. 

The Placing Price of 6½ pence per Placing Share represents a discount of 10 per cent. to the closing middle market price of 7.25 pence per ordinary share on 18 November 2008, being the last business day before announcement of the Placing, which the Directors consider to be fair and reasonable given the size of the Placing. 

The proceeds of the Placing will be used to fund the implementation of, and working capital for Phase 2 of the Company's Asia Pacific strategy and utilises the Company's existing authority to issue new ordinary shares for cash. 
 
The Company has also today announced its interim results for the 6 months to 30 September 2008.  Full details on the interim results are contained in a separate announcement.

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM.  It is expected that the Placing Shares will be admitted to trading on 24 November 2008.  The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares.  Following Admission the enlarged issued share capital of the Company will be 396,395,016 ordinary shares. 
For further information please contact: 

FFastFill plc                                                                 +44 (0)20 7665 8900 
Keith Todd, Chairman and Chief Executive Officer         
Nigel Hartnell, Executive Director

Financial Dynamics                                                      +44 (0)20 7831 3113
James Melville-Ross / Matt Dixon / Emma Appleton  

KBC Peel Hunt (Nominated Adviser and Broker)          +44 (0)20 7418 8850
Oliver Scott / Richard Kauffer
-Ends-
This information is provided by RNSThe company news service from the London Stock Exchange  END  MSCFFMESASASEDF

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.