Corporate News
Market Update
Armor Designs Inc., the developer of next generation composite armour, wishes to update the market on the fundraising announced on 19 June 2009.
At the time the Company announced that it had raised US$2.5 million by way of a private placement of 166,667 common shares at a price of US$15 per share. At the same time the Company announced that it would seek admission to trading of these shares on 26 June 2009. On 29 June 2009 these shares were admitted to trading on AIM. The Company wishes to announce that as of today the funds from the issue of 66,667 common shares (i.e. 0.25% of the total issued share capital of the Company), representing US$1 million have not been received.
While the Company does not doubt that it will receive the outstanding funds from this placee, who is an existing shareholder, it wishes to cancel the admission to trading of these shares until such time as the funds have been received.
Dr. James A. St. Ville, chairman of Armor Designs, Inc., said: "Notwithstanding the above I believe that the Company continues to be well-placed to raise further equity funding."
For further information please contact:
| Armor Designs, Inc. | |
| Dr James St Ville | Tel: +1 602 275 4633 |
| James.St.Ville@armordesigns.com | www.armordesigns.com |
| ZAI Corporate Limited | |
| Thilo Hoffman | Tel: +44 (0) 20 7398 2900 |
| thiloh@zimmint.com | www.zimmint.com |
Media enquiries:
| Brunswick Group LLP | |
| Michael Harrison / Chris Blundell / Camilla Gore | Tel: +44 20 7404 5959 |
| adi@brunswickgroup.com | www.brunswickgroup.com |
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Electronic versions of the materials you are seeking to access are being made available on this website by Armor Designs, Inc. ("Armor Designs") pursuant to the AIM rules for companies published by the London stock exchange as a consequence of the fact that the common shares of armor designs are admitted to trading on the AIM market of the London Stock Exchange.
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