DATE: 28th September 2005
Business Direct Group plc, the developer and operator of the ParcelXchange™ intelligent locker distribution system, announces that it has placed 4,548,333 shares in the Group. Firm Placing The Group has placed 2,965,000 new ordinary shares of 5 pence each (“Ordinary Shares”) at 30 pence per share. Application has been made for these placing shares to be admitted to trading on the AIM market. It is expected that dealings in the Placing shares will commence on 4 October 2005. Conditional Placing In addition to the above, the Group has placed a further 1,583,333 new ordinary shares of 5 pence each (“Ordinary Shares”) at 30 pence per share. The placing of these shares is conditional on shareholder approval at an Extraordinary General Meeting which will be held on 20 October 2005 at 10 am, at JM Finn & Co, Salisbury House, London Wall, London, EC2M 5TA. If shareholder approval is granted application will be made for these shares to be admitted to trading on AIM. The Group will therefore be raising a combined total of £1.36 million for working capital purposes. The combined 4,548,333 new ordinary shares will represent 13.14 per cent of the enlarged issued share capital. The new ordinary shares will, when issued, be credited as fully paid and rank pari passu in all respects with the existing issued Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after the date of the issue. JM Finn & Co is acting as broker to the Placings. Tim Houstoun, CEO of Business Direct said: “The additional funds will allow us to continue the roll our of the ParcelXchange estate. We continue to make good progress and we are beginning to see the benefits of the additional distribution networks and cost savings provided by our acquisition of ANC in March 2005.”
For Further Information: Alison Brindley
Head of Marketing
Business Direct plc
T: +44 (0) 7962 649 629
E: alison.brindley@bdpx.com
| For Media Enquiries: Alison Brindley,
Head of Marketing, Business Direct Group plc +44 (0)7962 649 629 or +44 (0)1788 821 228. alison.brindley@bdpx.com For supporting text and image files: Rachel Parry, Marketing Executive, Business Direct Group plc +44 (0) 1788 821 235 rachel.parry@bdpx.com |
