Equity Fundraising and Directors' dealings (3210E)
05 Abril 2011 - 4:45AM
UK Regulatory
TIDMCTN
RNS Number : 3210E
ClearStream Technologies Group PLC
05 April 2011
For Immediate Release 5 April 2011
ClearStream Technologies Group plc
("ClearStream" or the "Company")
Equity fundraising and directors' dealings
The Company is pleased to announce that it has conditionally
placed 3,958,334 new ordinary shares of EUR 0.125 each in
ClearStream (the "Placing Shares") at 48 pence per share (the
"Placing Price") through its broker, finnCap, to raise
approximately GBP1.9 million (the "Placing"). The Placing was
oversubscribed and will be effected from the Company's existing
headroom. The net proceeds of the Placing will be used by
ClearStream to invest in further research and development, to fund
further manufacturing investment and to provide the incoming Chief
Technical Officer funding to seek out further operational
improvements and provide funds to invest in developing new
products.
Certain of ClearStream's directors are participating in the
Placing as detailed in the table below. Following the Placing,
directors' shareholdings will be as follows:
% of issued Holding % of enlarged
Current share following issued share
Director holding capital the Placing capital
--------------- -------------- -------------- ------------- --------------
Dr Michael
Love 4,386,266 9.47 4,548,766 9.05
--------------- -------------- -------------- ------------- --------------
Andrew Jones 2,083,777 4.50 2,202,527 4.38
--------------- -------------- -------------- ------------- --------------
Pauline Oakes 255,380 0.55 286,630 0.57
--------------- -------------- -------------- ------------- --------------
Gay Gahan 1,013,990 2.19 1,013,990 2.02
--------------- -------------- -------------- ------------- --------------
Andrew Jones, CEO of ClearStream, commented:
"I am pleased by the level of support our fundraising received
from new institutional investors and thank our existing
institutional investors for their continued support. This placing
will provide funding to allow us to continue to build on our strong
position in the Peripheral marketplace."
Application has been made for a total of 3,958,334 new ordinary
shares of EUR 0.125 each ("Ordinary Shares") in ClearStream to be
admitted to trading on AIM ("Admission"). The Placing Shares will
rank pari passu with the Company's existing Ordinary Shares.
Admission is expected to become effective on 8 April 2011.
Following Admission of the Placing Shares, the Company will have
50,266,345 Ordinary Shares in issue with each share carrying the
right to one vote. There are no shares held in Treasury. The total
number of voting rights in ClearStream will therefore be
50,266,345.
The above figure may be used by shareholders 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, ClearStream, under the Disclosure and Transparency Rules.
For further information please contact:
ClearStream Technologies Group Tel: + 353 (0) 53 923
plc 7111
Andrew Jones, CEO
Winningtons Financial Tel: + 44 (0) 117 985
8989
Paul Vann Mob: 07768 807631
FinnCap Tel: + 44 (0) 20 7600
1658
Marc Young, Corporate Finance
Charlotte Stranner, Corporate
Finance
Simon Starr, Corporate Broking
About ClearStream:
ClearStream, , based in Enniscorthy, Co Wexford, Ireland, is an
innovative maker of medical devices used in peripheral (lower limb)
and coronary interventional procedures, including catheters and
stents. Its products are sold under ClearStream's own brands and
are also supplied to Original Equipment Manufacturers.
The Company is listed on the AIM market of the London Stock
Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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