Regulatory Announcement
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RNS Number:5674T
SQS Software Quality Systems AG
23 March 2007
SQS Software Quality Systems AG
23 March 2007
SQS Software Quality Systems AG ("SQS" or the "Company")
Issue of Equity
Software Quality Systems AG, the leading independent pan-European provider of
quality management and testing services for software development, is pleased to
announce the successful completion of a conditional placing of new ordinary
shares in the Company.
The Company has raised £3,285,000 (before expenses), through a conditional
placing of 1,500,000 new ordinary shares of €1 each ("Ordinary Shares") at a
price of 219 pence per share with institutional investors (the "Placing").
Application will be made for the new Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on 5 April 2007.
The proceeds raised from the Placing will be used to finance organic investment
and facilitate future acquisitions, in line with the Company's strategy to
strengthen its position in a number of key European markets.
Following completion of the Placing, SQS will have 18,690,823 Ordinary Shares
in issue.
Rudolf van Megen, commenting on the Placing, said:
"We are extremely happy with the institutional support for the Placing, which
will widen our current shareholder base and enable the Company to be more
flexible when future opportunities arise. I believe this Placing will enable us
to take advantage of our strong new business pipeline and to continue our
acquisitive and organic growth."
For further information please contact:
SQS Software Quality Systems AG www.sqs.de or www.sqs-uk.com
Rudolf van Megen (CEO) / Rene Gawron (CFO) +49 (2203) 91 54 50
Altium 020 7484 4040
Nick Tulloch / James Brown
Smithfield 020 7360 4900
Reg Hoare / Tania Wild
This information is provided by RNS
The company news service from the London Stock Exchange
END