Result of General Meeting


 

TIDMELE 
 
RNS Number : 3994Y 
Electric Word PLC 
02 September 2009 
 

2 September 2009 
 
 
 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN OR INTO THE UNITED STATES, JAPAN, CANADA, AUSTRALIA OR THE 
REPUBLIC OF IRELAND 
 
 
 
 
Electric Word plc 
("Electric Word" or the "Company") 
 
 
Result of General Meeting 
 
 
Electric Word plc (AIM: ELE), the specialist information publisher, is pleased 
to announce that the resolutions proposed at the Company's General Meeting held 
earlier today relating to the placing of new ordinary shares announced on 13 
August 2009 was duly passed by Shareholders. 
 
 
Pursuant to the Placing, Electric Word has raised GBP2.70 million before 
expenses through a placing of 74,482,759 new ordinary shares ("the Placing 
Shares") at 3.625 pence each. 27,172,414 of the Placing Shares were admitted to 
trading on 20 August 2009. 
 
 
47,310,345 new ordinary shares, representing the balance of the Placing Shares, 
and 6,603,773 new ordinary shares (the "Conversion Shares") arising from the 
conversion by Sussex Research of A Preference Shares were allotted immediately 
after the General Meeting.  Application has been made to the London Stock 
Exchange for the Admission of the balance of the Placing Shares and the 
Conversion Shares to trading on AIM and they are expected to be admitted to 
trading on AIM on 3 September 2009. 
 
 
The total number of ordinary shares in issue after the allotment of all the 
Placing Shares and the Conversion Shares will be 228,750,973 with each ordinary 
share carrying the right to one vote. There are no shares held in treasury. The 
total number of voting rights in the Company will therefore be 228,750,973. 
 
 
The above figure may be used by shareholders as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or a change to their interest in, Electric Word under the FSA's 
Disclosure and Transparency Rules. 
 
 
Julian Turner, Chief Executive of Electric Word commented, "The Board welcomes 
the successful completion of the Placing. The significant reduction in net debt 
and improved working capital position will greatly support Electric Word in 
taking advantage of growth opportunities in the future. We are also pleased to 
acknowledge the support for the fundraising from AIM VCT funds, which accounted 
for GBP1.8m (66%) of the GBP2.7m raised." 
 
 
For further information please contact: 
 
+--------------------------------------+---------------------------------------+ 
| Electric Word plc                    | Tel: +44 (0) 20 7954 3407             | 
+--------------------------------------+---------------------------------------+ 
| Julian Turner                        |                                       | 
+--------------------------------------+---------------------------------------+ 
| Panmure Gordon (UK) Limited          | Tel: +44 (0) 20 7459 3600             | 
+--------------------------------------+---------------------------------------+ 
| Andrew Potts                         |                                       | 
| Ashton Clanfield                     |                                       | 
| Callum Stewart                       |                                       | 
+--------------------------------------+---------------------------------------+ 
| Financial Dynamics                   |  Tel: +44 (0) 20 7831 3113            | 
+--------------------------------------+---------------------------------------+ 
| Tim Spratt                           |                                       | 
+--------------------------------------+---------------------------------------+ 
| Nicola Biles                         |                                       | 
+--------------------------------------+---------------------------------------+ 
 
 
This announcement has been issued by, and is the sole responsibility of, 
Electric Word. This announcement does not constitute an offer to underwrite, 
subscribe or otherwise acquire or dispose of any new Ordinary Shares or other 
shares in Electric Word. 
 
 
The Ordinary Shares have not been, and will not be registered under the United 
States Securities Act of 1933, as amended (the 'Securities Act') or under the 
securities legislation of any state of the United States of America, and may not 
be offered or sold in the United States. The relevant clearances have not been, 
and will not be, obtained from the Securities Commission of any province or 
territory of Canada; no document in relation to the Placing has been, or will 
be, lodged with, or registered by, The Australian Securities and Investments 
Commission; no registration statement has been, or will be, filed with the 
Japanese Ministry of Finance in relation to the Placing; and no registration 
statement has been, or will be, filed with the Irish Stock Exchange in relation 
to the Placing. Accordingly, subject to certain exceptions, the Ordinary Shares 
the subject of the Placing may not, directly or indirectly, be offered or sold 
within the United States, Canada, Australia, Japan or the Republic of Ireland or 
offered or sold to a resident of the United States, Canada, Australia, Japan or 
the Republic of Ireland. 
 
 
This press release may contain forward-looking statements with respect to 
Electric Word and its operations, strategy, financial performance and condition. 
These statements generally can be identified by use of forward looking words 
such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" 
or "continue" or the negative thereof or similar variations. The actual results 
and performance of Electric Word could differ materially from those expressed or 
implied by such statements. Such statements are qualified in their entirety by 
the inherent risks and uncertainties surrounding future expectations, including 
that the transactions contemplated herein are completed. Important factors that 
could cause actual results to differ materially from expectations include, among 
other things, general economic and market factors, competition, changes in 
government regulation. The cautionary statements qualify all forward-looking 
statements attributable to Electric Word and persons acting on its behalf. 
Unless otherwise stated, all forward-looking statements speak only as of the 
date of this press release and the parties have no obligation to update such 
statements. 
 
 
Panmure Gordon (UK) Limited is authorised and regulated in the United Kingdom by 
The Financial Services Authority, is advising Electric Word and no-one else in 
connection with the Placing and will not be responsible to any person other than 
Electric Word for providing the protections afforded to their clients or for 
advising any other person in relation to the Placing. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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