Subscription Tranche Update - £7.6m Proceeds
Company places 3.45m shares raising £7.6m at £2.21 per share under current subscription agreement.
- Shares placed 3,452,086
- Proceeds £7,626,129
- Price per share £2.21
- Shares remaining in current tranche 4,490,000
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| The Smarter Web Company (AQUIS: SWC | OTCQB: TSWCF | FRA: 3M8), a London listed technology company, announces that 3,452,086 new Ordinary Shares have been placed from the current tranche. |
The proceeds of the 3,452,086 new Ordinary Shares are £7,626,129 (before expenses), equivalent to approximately £2.21 per share, and the Company will receive approximately 97% of the proceeds as settlement early this week. The shares were placed in line with the Subscription Agreement, over a 2-week period, between 28 July and 08 August with no shares being placed on some days.
It is expected that once the current tranche is complete (4,490,000 new Ordinary Shares are not yet placed) that a new Subscription Agreement will be signed. All terms of the proposed new Subscription Agreement are expected to remain the same as the current Subscription Agreement as the Company believes that the current Subscription Agreement has been beneficial to the Company.
Visit our website: https://www.smarterwebcompany.co.uk
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| The Smarter Web Company CEO Andrew Webley | +44 (0) 117 313 0459 |
| Tennyson Securities Lead Broker Peter Krens | +44(0) 207 186 9030 |
| Peterhouse Capital Limited Aquis Stock Exchange Corporate Adviser Guy Miller Aquis Stock Exchange Corporate Broker Lucy Williams / Duncan Vasey | +44 (0) 207 469 0930 |
The Directors of the Company accept responsibility for the contents of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.