ENP Newswire - 09 January 2014 Release date- 08012014 - Torotrak (LSE: TRK), a leading developer and supplier of emissions reduction and fuel efficiency technology for vehicles, is pleased to announce that it has received valid applications (including applications received under the Excess Application Facility) from Qualifying Shareholders in respect of 19,355,789 Open Offer Shares, representing approximately 87.34 per cent. of the Open Offer Shares available pursuant to the Open Offer. The 2,806,030 Open Offer Shares not applied for by Qualifying Shareholders under the Open Offer will be taken up by Placees under the terms of the Placing. The Open Offer and the Subscription, together with the Firm Placing and the Acquisition, remain conditional upon, respectively, the passing of the Open Offer Resolutions, the Firm Placing Resolutions and the Acquisition Resolution at the General Meeting of the Company to be held at 11.00 a.m. on 8 January 2014 . In addition, the Firm Placing and the Open Offer remain conditional upon the Placing Agreement becoming unconditional in all respects and Admission. Application has been made to the FCA for the 96,725,878 New Ordinary Shares (being the Firm Placed Shares, the Open Offer Shares the Subscription Shares and the Consideration Shares) to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 9 January 2014 . The New Ordinary Shares will, when issued and fully paid, rank pari passu in all respects with the Existing Ordinary Shares. Capitalised terms used in this announcement have the same meanings given to them in the prospectus published by the Company on 13 December 2014 . Jeremy Deering , Chief Executive of Torotrak , said: 'We sought to ensure that all our shareholders, including our loyal private shareholders, could participate in this fund raise. I am delighted that our shareholders have supported the Open Offer and the Company in such a positive manner.' For more information, please contact: Torotrak plc Jeremy Deering , Chief Executive / Rex Vevers , Finance Director Tel: +44 1772 900931 Charles Stanley Securities (sponsor, financial adviser and joint broker to Torotrak ) Marc Milmo / Karri Vuori / Carl Holmes Tel: +44 20 7149 6000 N+1 Singer (joint broker to Torotrak ) Andrew Craig / Ben Wright Tel: +44 20 7496 3000 Tavistock Communications (financial PR) Simon Hudson / Lulu Bridges / James Collins Tel: +44 20 7920 3150 or +44 (0)7966 477256 [Editorial queries for this story should be sent to firstname.lastname@example.org ] ((Comments on this story may be sent to email@example.com ))
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