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Inditherm plc announces today that it is to raise £2.8 million, before
expenses, by way of a Placing of 30,000,000 new Ordinary Shares at a price of 10
pence per Placing Share. The Placing is conditional on inter alia,
Shareholder approval at an Extraordinary General Meeting convened for 10:00 a.m.
on 12 January 2007 at the offices of Collins Stewart Europe Limited, ninth
floor, 88 Wood Street, London, EC2V 7QR.
The funds raised in the Placing will be used to:
- underpin the continuing growth rate in turnover (approx 50% in 2006) of
the Company's core Medical, Industrial and Construction businesses
- broaden the institutional shareholder base
- improve the financial stability of the Company.
Commenting on the Placing, Richard Harpum , Chief Executive of Inditherm plc,
said: "The proposed placing is a positive move for Inditherm and will give the
company the financial flexibility it needs to achieve its
goals."
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