BST Big Sofa Technologies Group Plc

TIDMBST

RNS Number : 7023N

Big Sofa Technologies Group PLC

26 September 2019

Big Sofa Technologies Group plc

("Big Sofa Technologies" or the "Company")

Share Issuance to raise GBP900,000

Big Sofa Technologies (AIM:BST), an international video analytics provider to the insight and analytics industries, announces a conditional share issuance to raise GBP900,000.

-- Conditional subscription to raise GBP900,000 before expenses by the issue and allotment by the Company of 22,500,000 new Ordinary Shares at an issue price of 4 pence per share. The capital raising is conditional upon Admission

-- The proceeds will provide additional working capital for the business and support the Company's growth strategy as outlined in its interim results for the period ended 30 June 2019.

Details of the Subscription

The Company has conditionally raised GBP900,000 before expenses through aggregate subscriptions for 22,500,000 new Ordinary Shares at 4 pence per share.

The subscription is conditional on admission of the Subscription Shares to trading on AIM. The subscription shares are expected to be admitted to trading on AIM on 2 October 2019.

The subscription shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of their issue.

Total voting rights

Following Admission, the Company's issued share capital will consist of 186,250,692 Ordinary Shares, with each Ordinary Share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. This figure of 186,250,692 Ordinary Shares may therefore be used by shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries

 
  Big Sofa Technologies Group plc           +44 (0)20 7357 0033 
  Kirsty Fuller, CEO 
  Joe MacCarthy, CFO 
 
  Arden Partners plc (Nominated Adviser 
   and Joint Broker)                        +44 (0)20 7614 5900 
  Paul Shackleton / Ben Cryer 
   Tim Dainton (Equity Sales) 
 
  Novum Securities (Joint Broker)           +44 (0)20 7399 9427 
  Colin Rowbury 
 

About Big Sofa Technologies Group plc

Big Sofa Technologies is an insight-led technology company. The design and development of our technology has been guided by expert understanding of the insight and analytics industries and the needs, pressures and business questions of the clients they serve.

We uncover and analyse new-to-the-industry behavioural data sets in video, enabled by the power of our pioneering data capture and platform technology. We are innovating both in how video-led projects and programmes are designed and in how the data is analysed, showcased, embedded and re-mined.

Our software platform collates, analyses and organises large volumes of raw/unstructured video enabling our clients, which include leading market research and data companies and major household brands, to perform detailed and sophisticated consumer insight analysis and make genuine use of video content.

Big Sofa Technologies' shares are admitted to trading on the London Stock Exchange's AIM market under the ticker BST.L.

To find out more, visit www.bigsofatech.com

Follow us on twitter at @bigsofatech

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