Placing, appointment of non-executive Director and grant of options
Introduction
DDD Group plc (“DDD” or the “Company”) announces that it has today entered into an agreement, conditional (inter alia) upon shareholder approval and admission, to place 11,500,000 new ordinary shares of 10 pence each (“New Ordinary Shares”) at 11 pence per share (the “Placing Price”) to raise £1,265,000 before expenses and to place up to 8,669,272 existing ordinary shares of 10 pence each (“Sale Shares”) which are beneficially owned by, and are being sold by, funds managed by the Elliott Management Corporation group (“Elliott”) (together the “Placing Shares”) (the “Placing”).
The Board is also pleased to announce that Hans Snook, the Chairman of MonsterMob Group PLC (“MonsterMob”) and the founder and former Chief Executive of Orange, has joined the Board of DDD as a non-executive director, is participating in the Placing and has been granted 250,000 options over ordinary shares of 10 pence each in the Company.
