TIDMCAE

RNS Number : 2465Z

Charteris PLC

13 March 2012

For Immediate Release 13 March 2012

Charteris Plc

("Charteris" or "the Company")

Placing with Directors and TVR

The Board of Charteris announces that, further to the comments made in the Interim Report announced earlier today, the Directors have subscribed for new Ordinary Shares of 1p in the Company (the "Ordinary Shares") raising a total of GBP205,000 at GBP0.03 per Ordinary Share (the "Placing"). The price of GBP0.03 represents a premium to the current mid-market price of 33%. The funds raised will be used for on-going working capital.

The Directors have subscribed under the Placing as follows:

 
 Director         New Ordinary       Value   Total Ordinary   % of Enlarged 
                  Shares under         GBP      Shares held    Issued Share 
                   the Placing                 post Placing         Capital 
--------------  --------------  ----------  ---------------  -------------- 
 Cliff Preddy        2,222,211   66,666.33       11,260,431           22.4% 
--------------  --------------  ----------  ---------------  -------------- 
 David Mann          2,222,211   66,666.33        7,864,431           15.6% 
--------------  --------------  ----------  ---------------  -------------- 
 Chris Rees          2,222,211   66,666.33        6,622,211           13.2% 
--------------  --------------  ----------  ---------------  -------------- 
 Allan Barr            166,667       5,000          166,667            0.3% 
--------------  --------------  ----------  ---------------  -------------- 
 Total               6,833,300     205,000       25,913,740           51.5% 
--------------  --------------  ----------  ---------------  --------------

The Placing is, under the AIM Rules, a related party transaction and accordingly, having consulted with the Company's nominated adviser, the independent Director, being Patrick Carter, considers that the terms of the Placing are fair and reasonable insofar as its Shareholders are concerned.

As a result of the Placing, the Company's issued share capital now consists of 50,254,411 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 50,254,411.

The above figure of 50,254,411 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

 
 Press enquiries: 
 Charteris plc 
  Allan Barr, Chief Executive                   Tel: 020 7600 
  Patrick Carter, Finance Director              9199 
 Beaumont Cornish Limited (Nominated Adviser 
  and Broker)                                   Tel: 020 7628 
  Roland Cornish and James Biddle               3396

This information is provided by RNS

The company news service from the London Stock Exchange

END

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