£652k raised to fund international developmentMay 24, 2010
FOR IMMEDIATE RELEASE
24 May 2010
£652K raised to fund international development
Globo plc (“Globo”, the “Group” or the “Company”; LSE-AIM: GBO), the international IT, mobile solutions and SaaS provider announces that it has raised approximately £652,165 before expenses via the placing of 7,672,530 new ordinary shares of 1 pence each, representing approximately 5.11 per cent of the issued share capital of the Company as enlarged by the placing, at a price of 8.5 pence per share.
The net proceeds from the Placing will contribute to the continued expansion of the international mobile business and of CitronGO! and GO!Social the open ‘cloud‘ mobile communication software solutions providing personal and professional users with true ubiquitous computing on a single screen on any mobile phone or web browser. CitronGO! is targeting an addressable global market of 4.5 billion subscribers. Globo’s sales and marketing capacity continues to expand, in line with increased interest from MNOs appreciating the enhancement to their offering provided by using Globo’s platforms.
Application will be made for the 7,672,530 new ordinary shares to be admitted to AIM and admission is expected to occur on 2 June 2010. Following the placing, Globo’s issued share capital will consist of 150,206,089 ordinary shares.
Costis Papadimitrakopoulos, Chief Executive, commented:
“We are delighted to have received good support from investors in a difficult economic environment. Following our recent announcements of new mobile contracts and the strong interest we are receiving from MNOs we are focusing on further increasing our international footprint to maximise the opportunities generated by our CitronGO! and GO!Social mobile platforms.”
Daniel Stewart & Company Plc was broker to the placing.
Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
NCB Stockbrokers Limited (Nomad)
Christopher Caldwell or Barclay Clibborn
Daniel Stewart & Company Plc
Astaire Securities Plc (Joint Broker)
Simon Bloomfield or Andy Harris
GLOBO plc was admitted to AIM in December 2007. Founded in 1997, Globo has established itself as one of the market leaders in the ICT market, offering a wide range of products and services to the corporate, public and consumer market. It provides mobile, e-business and telecom software products and related services to the private and governmental and mobile sectors. The Group expands internationally based on its mobile communications strategy. For further information please go to www.globoplc.com