Earthport raises £25 million through oversubscribed Placing
Summary
A circular is expected to be posted on 5 October 2017 (the "Circular") notifying shareholders of a general meeting for the purpose of considering the relevant resolutions at Bird & Bird LLP, 12 New Fetter Lane, London EC4A 1JP expected to be convened at 10.00 a.m. on 23 October 2017. Substantial shareholder participation Oppenheimer Funds has subscribed for 22,750,000 Placing Shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in the interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules. Save as otherwise defined, capitalised items used in this announcement have the meanings given to them in the announcement released by the Company yesterday at 4.43 p.m. Hank Uberoi, Chief executive officer of Earthport commented: “We are very pleased to announce this placing which will enable us to capture the growing opportunities that are visible in our pipeline in Asia, in the e-commerce vertical and with existing clients. In addition, it will allow us to invest further in operating efficiencies and product development as volumes continue to grow.