By Laura Lutz
Washington, Nov. 30 - Adventis Group plc negotiated a private placement with Oceanwood Global Opportunities Master Fund, Morgan Stanley and an existing investor for £1,029,042.
The company agreed to sell 3,266,800 new ordinary shares at 31.5p each, a 4.5% discount to the closing middle market price of the company's shares on Nov. 29.
The company also sold for the same price 325,000 ordinary shares that it had bought on the market in January 2006 and since held as treasury shares, raising an additional £102,375.
Proceeds will be used for working capital and future acquisitions.
Following the placement, the company will have 38,283,646 shares outstanding.
Arbuthnot Securities Ltd. acted as broker for the deal.
Adventis is a London-based marketing company.
| Issuer: | Adventis Group plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,029,042
|
| Shares: | 3,266,800
|
| Price: | 31.5p
|
| Warrants: | No
|
| Investors: | Oceanwood Global Opportunities Master Fund, Morgan Stanley, an existing investor
|
| Broker: | Arbuthnot Securities Ltd.
|
| Announcement date: | Nov. 30
|
| Stock symbol: | London: ATG
|
| Stock price: | 33.5p at close Nov. 30
|
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