Print   



NextGen Group Plc

('NextGen' or 'the Company')

Placing

NextGen is pleased to announce that it has placed 210,000,000 ordinary shares of £0.001 each (the 'Placing Shares') with two existing shareholders of the Company (the 'Placing'). The Placing Shares are to be issued at £0.0015 per share to raise £315,000 before expenses of the Placing, in order to provide development funding and general working capital for the Company. In addition, for every 3 Placing Shares issued pursuant to the Placing, the Company will grant a warrant over 1 ordinary share of £0.001 each (the 'Ordinary Shares') with an exercise price of £0.0015 per share. Accordingly, warrants over 70,000,000 Ordinary Shares will be granted in the placing. The warrants shall be exercisable for 3 years from the date of grant.

The two subscribing shareholders are Perfekt Beteiligungsmanagement GmbH ('Perfekt) and Family Trust Select - FIS - Teilfonds Zeus ('Zeus') and the details of the subscription are as follows:

	Number of Ordinary Shares held before Placing	Number of Placing Shares	Number of Warrants granted
Perfekt	154,937,806	124,833,000	41,611,000
Zeus	775,000,000	85,167,000	28,389,000

Following the Placing, the Company will have in issue 2,120,978,644 Ordinary Shares. The shareholdings of Perfekt and Fortis following the Placing are as follows:

	Number of Ordinary Shares held	% of issued Ordinary Share Capital
Perfekt	279,770,806	13.19%
Zeus	860,167,000	40.55%

The Placing Shares will represent 9.9 per cent of the enlarged issued share capital immediately following the issue of the Placing Shares and will rank pari passu in all respects with the existing Ordinary Shares.

Application will be made for the Placing Shares to be admitted to trading on the AIM market of the London Stock Exchange. Dealings in the new shares are expected to commence on 17 October 2008.

For further details please contact:

Dr Michael Pisano

CEO, Nextgen Group PLC                01480 410 850

Jonathan Wright / Nicola Marrin

Seymour Pierce Limited                    020 7107 8000 

ENDIOEILFLVIALVLIT