By Laura Lutz
Des Moines, Sept. 27 - Statpro Group plc plans to raise £10.6 million with a private placement of shares.
The company intends to sell 12 million shares at 88p each, a 5% discount to the closing mid-market price of 92.5p on Sept. 26.
The issued shares will represent 23.4% of the company's share capital following the placement.
Arbuthnot Securities Ltd. will act as broker for the company.
Directors of the company C. R. Bacon, J. M. B. T. Wheatley, A. M. Fabian, M. C. Fairbairn, M. A. Adorian and D. M. D. A. Wheatley subscribed for a total of 210,224 of the shares.
Proceeds will be used to fund the company's proposed acquisition of FRI Corp.
Statpro is a London-based provider of financial analysis services.
| Issuer: | Statpro Group plc
|
| Issue: | Stock
|
| Amount: | £10.6 million
|
| Shares: | 12 million
|
| Price: | 88p
|
| Warrants: | No
|
| Broker: | Arbuthnot Securities Ltd.
|
| Pricing date: | Sept. 27
|
| Stock symbol: | London: SOG
|
| Stock price: | 92 at close on Sept. 26
|
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