For immediate release
13 June 2005
STATPRO GROUP PLC
(“StatPro” or the “Group”)
Issue of Shares following Exercise of Warrants
StatPro Group plc (‘StatPro’ or the ‘Company’), the AIM listed provider of portfolio analytics solutions for the global asset management industry, announces that following the exercise of warrants it has issued 1,690,000 ordinary shares raising £0.54 million (before expenses). This successfully completes the process of eliminating these unlisted warrants, thereby reducing potential future dilution and simplifying the Company’s capital structure.
On 29 April 2005, the Company made a proposal to its warrant holders to exchange their existing warrants over 4.25 million shares exercisable at 80 pence per share up to 17 May 2007 (‘Existing Warrants’) for new warrants over 1.7 million shares exercisable at 32 pence per share up to 10 June 2005 (‘New Warrants’). As announced on 19 May 2005, applications for such exchanges were received in respect of approximately 99.4 per cent of the Existing Warrants. The Board resolved to accept such applications in full and this resulted in the issue of New Warrants over 1.69 million shares and the cancellation of Existing Warrants over 4.225 million shares. All of the holders of New Warrants exercised their right to subscribe and thus the process has now been completed with 1.69 million shares being issued resulting in a total number of ordinary shares in issue of 34,914,744.
– Ends –
For further information, please contact:
StatPro Group plc
|Justin Wheatley, Chief Executive||020 8410 9876|
|Andrew Fabian, Finance Director|
Corporate Synergy Plc
|Justin Lewis/Rhod Cruwys||020 7448 4400|
|Reg Hoare/Sarah Richardson||020 7360 4900|
Notes to Editors:
StatPro Group plc is a leading provider of portfolio analytics solutions for the global asset management industry. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. StatPro has grown its revenue from continuing operations from £1.8 million in 1999 to £9.1 million in 2004.