Artilium (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, is pleased to announce an additional investment in the Company.
HEVA invest, the investment company of our Chief Commercial Officer, has agreed based on the improved performance of the Company and their strong belief in the Artilium technology, to convert a loan of approximately Euro 225,000 in shares at 8.5p. This loan had been provided to the group as part of the acquisition of United Telecom. Also Heva Invest agreed to invest a further Euro 473,000 in shares at 8.5p. This is a premium of about 8% on the current share price. Artilium will therefore issue 7,005,430 new ordinary shares of 5p each (the “Ordinary Shares”) thus further strengthening the Company’s capital structure. After this transaction HEVA will hold 4.6% of the enlarged share capital of the Company. With this transaction the Company is fully debt-free.
Willem van den Brink, CEO, commented:”With the improved result in the first half of the current financial year a major step in the turnaround of Artilium has been made. This provides a solid base to extend the Artilium business. Management is very pleased that this has also been recognised by HEVA Invest who took the opportunity to further support the company. It gives us more room for manoeuvre to execute our strategy.”
Application for admission and Total Voting Rights
Application will be made for admission to trading of AIM (“Admission”) of 7,005,430 new Ordinary Shares and it is expected that Admission will become effective on 3 May 2013.
Following admission of the 7,005,430 new Ordinary Shares, the total number of issued Ordinary Shares will be 215,275,467 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company 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, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
For further information please contact:
Patrick Morley – Non-Executive Chairman
Willem Van Den Brink – CEO – Executive Director
Maarten Bisseling – Executive Director
Jean-Paul Menke – Non-Executive Director
+44 20 7601 6100
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