Issue of Equity
Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has made an application to the London Stock Exchange for 8,777,326 new ordinary shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 16 September 2013.
The new ordinary shares are being issued in settlement for the consideration due in relation to Petards’ offer for Water Hall Group plc which was declared wholly unconditional on 30 August 2013. The number of new ordinary shares being issued corresponds to acceptances received in respect of a total of 70,220,700 Water Hall Shares (representing approximately 88.17% of the existing ordinary share capital of Water Hall and approximately 80.13% of Water Hall’s share capital assuming full conversion of the Water Hall Loan Note).