Proposed Placing
9th Sep 2009
Pursuit Dynamics PLC
("Pursuit" or "the Company")
Proposed Placing
The Board of Pursuit Dynamics PLC (AIM: PDX), the developer of the PDX® platform technology, is pleased to announce a proposed placing ("the placing") of 3,636,364 new ordinary shares of 1p each in the share capital of the Company ("Placing Shares") at £1.10 per share to raise approximately £4 million before expenses.
The Placing will provide Pursuit with additional working capital funding to accelerate the commercial growth of the Company under the leadership of the new CEO, Roel Pieper.
Pursuit has entered into a placing agreement pursuant to which the Placing Shares have been conditionally placed with institutional investors on behalf of the Company. Mirabaud Securities LLP and Cenkos Securities plc are brokers to the Company.
Application will be made for the Placing Shares to be admitted to trading on AIM and it is anticipated that admission will become effective, and that trading in the Placing Shares on AIM will commence, on 15th September 2009.
