July 23, 2009
On 19 June 2009 the Directors of TLDH (AIM: TLDH) announced that the Company had conditionally placed 100,000,000 new ordinary shares (the “Ordinary Shares“) at a placing price of 2.5p per Ordinary Share (the “Placing Price“) to raise £2.5 million before expenses (equivalent to approximately US$4.1 million at current exchange rates) subject to admission (the “Placing”). In addition in connection with the Placing, the Company had conditionally issued in aggregate 50,000,000 warrants to the placees at a ratio of one warrant for every two Ordinary Shares subscribed (the “Placing Warrants“). The Placing has now completed and to meet any excess subscription in full, the Board has therefore issued a total of 110,329,148 Ordinary Shares (“New Ordinary Shares“) at the Placing Price to raise approximately £2.7 million before expenses. The Company intends to use the Placing proceeds to provide additional working capital and to develop the business in line with the Company’s investing policy. A total of 55,164,574 Placing Warrants have been issued. (more…)