SMC Smc Grp

RNS Number:7624L
SMC Group Plc
15 January 2008

                                 SMC Group Plc
                            ("SMC" or "the Company")

                              Result of Open Offer

On 18 December 2007, the Company announced its intention to raise approximately
�15.1 million, before expenses, by way of an Open Offer of up to 188,377,187 New
Ordinary Shares at 8 pence per share on the basis of 19 New Ordinary Shares for
every 5 Existing Ordinary Shares. The Open Offer was made to Qualifying
Shareholders holding Ordinary Shares at the close of business on the Record
Date.

Other than in relation to those New Ordinary Shares which the Directors agreed
to subscribe for or procure that their nominees subscribe for either under the
Open Offer or otherwise, in order to provide certainty as to the amount of
capital to be raised, the Company arranged for the Open Offer to be fully
underwritten by the Ironshield Fund, acting upon the advice of its investment
manager, Ironshield, pursuant to the terms and conditions of the Underwriting
Agreement.

The Company is pleased to announce that by 11.00 a.m. on 14 January 2008, that
being the latest time and date for receipt of completed Application Forms and
payment in full under the Open Offer, 13,874,431 New Ordinary Shares,
representing approximately 7.37 per cent. of the total number of New Ordinary
Shares available under the Open Offer, had been applied for by Qualifying
Shareholders. Of this number, 7,576,503 New Ordinary Shares were subscribed for
by certain of the Directors or their nominees in accordance with their
respective irrevocable undertakings dated 18 December 2007.

In addition, in accordance with the irrevocable undertakings given by the
Directors dated 18 December 2007, certain of the Directors also subscribed for,
in aggregate, 937,500 New Ordinary Shares not validly taken up by Qualifying
Shareholders under their entitlements under the Open Offer.

In accordance with the Underwriting Agreement dated 18 December 2007, the
173,563,607 New Ordinary Shares which were not validly taken up by Qualifying
Shareholders under their entitlements under the Open Offer or subscribed for by
certain of the Directors as set out above, have been subscribed for by the
Ironshield Fund, acting upon the advice of its investment manager, Ironshield.

The Open Offer remains conditional upon admission of the New Ordinary Shares to
trading on AIM. Application has been made for the 188,375,538 New Ordinary
Shares to be admitted to AIM and it is expected that Admission will become
effective and that dealings in the New Ordinary Shares will commence at 8.00
a.m. on 18 January 2008.

Following Admission, the total number of Ordinary Shares in the Company with
voting rights in issue will be 237,948,482.

Substantial shareholding

In accordance with the underwriting commitment referred to above, the Ironshield
Fund (taken together with those persons with whom the Ironshield Fund is acting
in concert for the purposes of Rule 9 of the City Code, if any) will, upon
Admission, hold a total of 173,563,607 Ordinary Shares, representing
approximately 72.94 per cent. of the Company's enlarged issued voting share
capital.

Definitions

Terms used in this announcement have the same meaning as those defined in the
Prospectus published by the Company dated 18 December 2007.

For further information:
SMC Group Plc                                      Tel: +44 (0)20 7495 5335
Rob Boardman
Numis Securities Limited                           Tel: +44 (0)20 7260 1000
Stuart Skinner/Brent Nabbs/James Serjeant
Bell Pottinger Corporate & Financial               Tel: +44 (0)20 7861 3232
David Rydell/Chris Hamilton

                                    - ends -




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