PCI-PAL PLC (AIM: PCIP), the global provider of secure payment solutions, announced on 27 March 2020 a placing to raise £5.0 million (before expenses) through the issue of 16,666,667 new ordinary shares of 1 pence each (the "Placing Shares").
The issue of the Placing Shares was conditional, inter alia, on Shareholder approval at a General Meeting. The Company is pleased to announce that at the General Meeting of its Shareholders held earlier today all Resolutions were duly passed.
Full details of the Resolutions were set out in the Circular published by the Company on 30 March 2020. The Circular is available for inspection in electronic form on the Company's website, www.pcipal.com/ .
Total Voting Rights
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will be effective and dealings will commence in respect of the Placing Shares at 8.00 a.m. on 20 April 2020.
Following Admission, the Company's issued share capital will consist of 59,387,845 Ordinary Shares. The Company holds 167,229 Ordinary Shares in Treasury, therefore on Admission the total number of voting rights will be 59,220,616. This figure may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement have the meanings ascribed to them in the circular to shareholders dated 30 March 2020 unless otherwise defined.
Commenting on the successful placing, James Barham, Chief Executive Officer of PCI Pal, said:
"We are delighted to have received shareholder approval for this fundraise which has been well supported by our existing investors; and we welcome our new investors on-board as well.
"This additional capital will enable us to further increase our efforts in North America and strengthen product management across the Group, allowing us to continue with our ambitious growth plans.
"It also provides us with greater balance sheet strength and flexibility should it become needed and will allow the Company to consider potential new expansion opportunities in the future."
For further information, please contact:
Via Walbrook PR
James Barham - Chief Executive Officer
William Good - Chief Financial Officer
finnCap (Nominated Adviser and Broker)
+44 (0) 20 7227 0500
Marc Milmo/Simon Hicks (Corporate Finance)
Richard Chambers (Corporate Broking)
+44 (0) 20 7933 8780
Tom Cooper/Paul Vann
+44 (0) 797 122 1972
About PCI Pal:
PCI Pal is a provider of secure payment solutions for contact centres and businesses taking Cardholder Not Present (CNP) payments. PCI Pal's globally accessible cloud platform empowers organisations to take payments securely without bringing their environments into scope of PCI DSS and other card payment data security rules and regulations.
With the entire product portfolio served from PCI Pal's cloud environment, integrations with existing telephony, payment, and desktop environments are light-touch, ensuring no degradation of service while achieving security and compliance.
PCI Pal has offices in London, Ipswich (UK) and Charlotte NC (USA).