Quick Facts Brady Conditionally Agrees To Buy Viz Risk Management Services ; Trading and risk management software provider Brady plc (BRY.L) said it has conditionally agreed to acquire Viz Risk Management Services AS for an aggregate consideration of approximately £9.6 million in cash.
The Company intends to raise £15 million (before expenses) by way of a conditional placing by Cenkos Securities plc of 25.42 million new ordinary shares with various institutional and other investors at a price of 59 pence per share to fund the consideration payable for the Acquisition. The balance of the net proceeds of the Placing will be used for additional working capital for the Brady Group.
The Placing comprises a placing of 6.1 million new ordinary shares which will qualify as VCT investments and a placing of a further 19.32 million new ordinary shares. The Placing Shares proposed to be issued pursuant to the VCT Placing are expected to be admitted to trading on AIM on 22 December 2010 and the Placing Shares proposed to be issued pursuant to the Non- VCT Placing are expected to be admitted to trading on AIM on 23 December 2010
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