IP GROUP Evocutis Plc announces that it has raised £1,500,000, gross of expenses, through the issue of 375 million new shares of 0.01p each in the Company ("Placing Shares") at a placing price of 0.4 pence per share. Each Placing Share carries a warrant, which entitles the holder to subscribe for one new ordinary share in the Company at 0.4 pence per share up to 31 December 2015.
Application is being made for the Placing Shares, which will, on issue, rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and such admission is expected to occur on or around 12 December 2014.
The Company will therefore have 724,675,828 Ordinary Shares in issue with voting rights and admitted to trading on AIM. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
David Lenigas, the Company's Chairman commented:
"This placing will significantly boost the Company's balance sheet as we pursue the Company's stated investing policy to invest in and/or acquire companies and/or projects within the natural resources sector with the potential for growth."
For further information, please contact:
Evocutis Plc
Donald Strang, Executive Director
+44 (0)20 7440 0640
www.evocutis.com
Cairn Financial Advisers LLP
James Caithie/Carolyn Sansom
+44(0) 20 7148 7900
www.cairnfin.com
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