Draganfly Investments Limited
("Draganfly" or the "Company")
22 September 2016
The Board of Draganfly announces that the Company has raised £145,000 before expenses, by way of a placing ("Placing") through Beaufort Securities Limited of 18,125,000 new ordinary shares of no par value in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.8 pence per share (being a discount of approximately 27 per cent. to the closing middle market price of 1.1 pence per Ordinary Share on 21 September 2016).
Draganfly Investments Limited was incorporated for the purpose of evaluating and, where appropriate, making acquisitions and investments. Any such investments may be in either quoted or unquoted entities.
Edward Bayman, Chairman, stated "We are pleased to welcome a number of influential new shareholders that are active in our market, to the share register as we seek to build shareholder value in the Draganfly Investments vehicle."
The Placing Shares will rank pari passu with the existing Ordinary Shares and their issue is conditional on their admission to trading on AIM ("Admission"). Application will be made for the Placing Shares to be admitted to trading on AIM and Admission is expected to occur on or around 30 September 2016.
The Company currently has 51,231,437 Ordinary Shares in issue. Following Admission, the Company's issued share capital will consist of 69,356,437 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury therefore this number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
T Edward G Bayman +44 (0) 1534 787898
Dennis Edmonds +44 (0) 7796 338 372
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Tom Price / Gerry Beaney
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the Council.
This information is provided by RNS