ILA Ila Group

 

TIDMILA 
 
RNS Number : 3894X 
Ila Group Limited 
06 December 2010 
 
                                ILA GROUP LIMITED 
 
                                PLACING OF SHARES 
 
 
Ila Group Limited ("Ila" or the "Company") today announces the conditional 
placing of 117,000,000 new ordinary shares at 1.2p per share ("Placing Shares"), 
which will raise GBP1.4m before expenses ("Placing"). The Placing is conditional 
upon approval from shareholders at an annual general meeting ("AGM") which will 
take place on 20th December 2010 at 12:00pm at the offices of BBH London, 60 
Kingly Street, London W1B 5DS. The Placing Shares will, on issue, rank equally, 
in all respects with the existing ordinary shares in issue. 
 
To enable the Company to satisfy the issue of the Placing Shares pursuant to the 
Placing, and to have some headroom to issue further shares, the Company is 
seeking to increase its authority to issue new ordinary shares at the AGM.  A 
notice of AGM will be sent to shareholders today and will be available for 
download from the Company's website at www.ilasecurity.com 
 
The Placing is intended to fund: 
 
-     Continued expansion of the Ila brand into international markets in 2011, 
in particular the key North American market 
-     Potential acquisition opportunities. A number of possible acquisitions, 
which would complement Ila's rapidly developing sales and distribution model, 
are being considered 
-     Development of the Ila portfolio of products in 2011 
-     Potential opportunities to invest in new brands alongside branding partner 
BBH 
 
Simon McGivern, CEO commented. 
 
"We are delighted with the response to the Placing. We have had the continued 
support from our shareholders in addition to strong interest from new investors. 
This is a reflection of the potential of the expanded Ila range, both 
domestically and internationally for 2011 and beyond. 
 
In particular, the Placing will allow development of the tremendous 
opportunities in the key North American market. With minimal investment to date, 
a number of major retailers have shown significant interest in Ila's products. 
In order to capitalise on this, in 2011 we will expand our presence, 
particularly within sales distribution and brand development, and we aim to 
secure significant sales across the US next year. 
 
In addition, during 2010, we have gained significant knowledge of the logistics 
involved, within design, manufacturing, sale and distribution and strongly 
believe these skills can be applied to other related products and companies. 
 
We have ambitious plans to utilise these skills via acquisition, as the 
relationships we are forming throughout the World can be leveraged to create 
major new revenue streams. 
 
The funds from the Placing will allow us to meet these challenges and should 
take Ila to the next level of its development into a major new retail brand." 
 
 
Application will be made for the Placing Shares to be admitted to trading on AIM 
and it is expected that admission will become effective on 21 December 2010. 
Following admission of the Placing Shares, the total number of issued ordinary 
shares in the Company will be 684,611,968. The Company does not hold any 
ordinary shares in treasury and therefore this figure 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. 
 
 
For further information, please see www.ilasecurity.com or contact: 
 
Ila Group Limited                                                    020 7501 
1050 
Simon McGivern, Chief Executive Officer 
Paul Gazzard, Chief Operating Officer 
 
finnCap                                                                  020 
7600 1658 
Ed Frisby/Ben Thompson - corporate finance 
Joanna Weaving - corporate broking 
 
Lothbury Financial Services                                     020 7868 2010 
Gary Middleton 
Simon Astley 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEKKNDBFBDDABK 
 

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