Landkom Raises USD 22 mln from New Share Placement

Landkom (LKI LN: N/R) announced that it has conditionally placed 10,800,306 new ordinary shares at GBP 1 each. The placement raised gross proceeds of GBP 10.8 mln (USD 22.0 mln). Completion of the placement is conditional on admission to trading on AIM, expected March 26, 2008. Anna Dudchenko: The share of minorities will grow to 57.3% from 54.9% currently. Pulled down by prevailing volatility on global markets, Landkom’s market price has slid 13% since March 12. The placement price is now slightly above the current market price of GBP 0.895 per share. Landkom’s MCap after placement will be GBP 176 mln (USD 359 mln).