The Smarter Web Company (AQUIS: SWC | OTCQB: TSWCF | FRA: 3M8), a London listed technology company, announces that 1,898,201 new Ordinary Shares have been placed from the current tranche.
The proceeds of the 1,898,201 new Ordinary Shares are £3,662,512 (before expenses), equivalent to approximately £1.93 per share, and the Company will receive approximately 97% of the proceeds as settlement early this week. The shares were placed in line with the Subscription Agreement, over a 2-week period, between 11 August and 22 August. It is expected that once the current tranche is complete (2,591,799 new Ordinary Shares are not yet placed) that a new Subscription Agreement will be signed. All terms of the proposed new Subscription Agreement are expected to remain the same as the current Subscription Agreement as the Company believes that the current Subscription Agreement has been beneficial to the Company.
Provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. Reproduced from the company's published announcement after 19:00 UK on the day of publication; contact details and standard disclaimers omitted, see the official PDF for the complete text.