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InternetQ PLC Announces Placing And Conditional Acquisition

Tuesday, 2 Jul 2013 02:06am EDT 

InternetQ PLC announced that it has placed 3,448,400 new ordinary shares at a price of GBP2.90 per share, raising gross proceeds of approximately GBP10 million (EUR11.7 million). The net proceeds of the Placing will be deployed by management to acquire Atlas Interactive Deutschland GmbH and to accelerate organic growth. The Company has signed a Letter of Intent for the purchase of Atlas Germany, completion of which is conditional upon, inter alia, completion of the Placing. Financial terms of the transaction were not disclosed. The Placing Shares represent approximately 9% of the Company's enlarged issued share capital. The Placing is conditional on admission of the Placing Shares to trading on AIM, which is expected to take place on July 5, 2013. 

Company Quote

12.75 +3.67%
6:22am EDT