Immersion Technologies Intl. Announcements

RNS Number : 1657Z Immersion Technologies Intl PLC 16 July 2008  
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16 July 2008
Immersion Technologies International plc 
("Immersion Technologies" or "the Company")
    

£185,000 Equity Placing
The Company is pleased to announce that it has placed 18,500,000 ordinary shares of 0.7p each in the capital of the Company at a price of 1p per ordinary share ("Placing Shares") with certain investors (the "Placing").

Pursuant to the Placing, participants have additionally been granted one warrant to subscribe for an additional ordinary share in Immersion Technologies for every two new ordinary shares subscribed in the Placing. These warrants are exercisable at 1.5p per share for a period of five years from the date of admission of the Placing Shares to trading on AIM.

The Placing proceeds of £185,000 will further enable the Company to continue to provide the necessary working capital for its growing range of products and development of those products.

The Placing Shares will represent approximately 7.5 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Placing Shares to trading on AIM. It is expected that dealings in the Placing Shares will commence at 8.00 a.m. on 22 July 2008.

The total number of shares in issue and therefore the total number of voting rights following completion of the Placing will be 246,724,634.

ENDS

For further enquiries:
Immersion Technologies International plc
 
David Lenigas, Chairman                           
Tel: +44 (0) 20 7016 5100
Kiran Morzaria
Tel: +44 (0) 20 7016 5100
 
 
Nabarro Wells & Co. Limited – Nominated Adviser
 
Hugh Oram    
+44 (0) 20 7634 4852
 
 
St. Helens Capital – Nominated Broker   
 
Ruari McGirr
+44 (0) 20 7628 5582
 
 
Pelham Public Relations
 
Archie Berens                        
+44 (0) 20 7743 6679 / +44 (0) 7802 442486
This information is provided by RNSThe company news service from the London Stock Exchange  END  IOEUNSVRWNRBARR