Placing
Embargoed Release: 07:00hrs Thursday 16th October 2008
Toumaz Holdings Limited
(`Toumaz Holdings', the `Company' or the `Group')
Placing
Toumaz Holdings, the niche investor that specialises in emerging technologies
with strong commercial propositions for the healthcare and electronic sectors,
is pleased to announce it has raised £558,000 by way of a placing of 9,300,000
new ordinary shares of 0.25p each ('Placing Shares') in the Company at a price
of 6p with Herald Investment Management Limited (`HIML'). HIML will now hold a
10% stake. The placing price of 6p represents a premium of 37% to the Group's
share price of 4.375p as at 4.30pm, Thursday 16th October 2008.
The proceeds of the placing will largely be used to increase the Group's equity
stake in Future Waves Limited (`Future Waves'). Toumaz Holdings will become the
largest shareholder of the business; the Group retains its representation on
the Future Waves board with Chris Toumazou and Guy Spelman as chairman and vice
chairman.
Future Waves is a fabless semiconductor designer and supplier focusing on
mobile receiver solutions for the digital audio and video broadcasting
industry. The funds will help to launch its second generation chipsets; fenix2
and orion2 on the market by year end 2008. Customers have already been secured.
The leading edge technology is targeted towards multi-band solutions worldwide.
The business remains focused on delivering global single chip solutions
providing ultra low power at the lowest cost.
The placing is conditional on the Placing Shares being admitted to trading on
AIM, following which Toumaz Holdings will have a total issued share capital of
226,759,130 Ordinary Shares. The Placing Shares will, on issue, rank pari passu
in all respects with the existing Ordinary Shares in issue. Application has
been made for the Placing Shares to be admitted to trading on AIM, on 17
October 2008.
-End-
For further information please contact:
Guy Spelman Toumaz Holdings Limited Tel: +44 7767 338 967
Rose Herbert/
Charles Cunningham/
Sam Smith FinnCap Tel: 020 7600 1658
Vikki Krause Hansard Group Tel: +44 207 245 1100
END