COE, the AIM-quoted CCTV systems installer, announced that the company has carried out a placing of 3,877,778 new 5p ordinary shares (“New Ordinary Shares”) at 9 pence per share.
The aim is to raise £349,000 through Westhouse Securities LLP. The placing is within the Directors’ existing authority, which was granted at the COE’s annual general meeting on January 18.
Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on February 16.
COE’s Chairman, Dick Eykel, said: "I am delighted that we have achieved this further placing, which was at a 12.5 per cent. premium to the placing announced on 21 December 2004. In total, COE has exceeded its target for funds raised and this provides a good financial base from which COE can grow."
