|28 April 1999|
VOCALIS GROUP plc
Proposed placing and open offer
Vocalis Group plc ("Vocalis"), the Cambridge based speech recognition telephony company, announces a proposed placing and open offer to raise £8.7 million (net of expenses) through the issue of 10,920,202 new ordinary shares of 5p each at a price of 85p per share. The placing and open offer has been fully underwritten by Credit Lyonnais Securities.
The funds raised will primarily be used to market and further develop enhanced versions of SpeecHTML and secondly to finance the future development and marketing of Vocalis's other speech recognition products: Vocalis SpeechWare, SPEECHtel and EntelAgent.
"We believe that in SpeecHTML we have the right technology at the right time. It is essential now that we have sufficient resources to develop fully and exploit the leading position our developers have given us. This fundraising enables us to do this."
Charles Halle, Chief Executive of Vocalis, commented:
"We are very pleased with the enthusiastic response we have had from institutional investors for the placing and open offer. The funds raised will enable us to take full advantage of the opportunities presented to us in the rapidly expanding speech recognition market and capitalise on the expected growth in information and commercial transactions conducted over the Internet."
Vocalis works with organisations to create contact centre solutions that build the organisations business and brands. These solutions can turn your contact centre from a cost to a profit centre by ensuring it builds your brand, helps your business be more competitive, and increases customer loyalty through more effective and efficient service. Vocalis was formed in 1993, is publicly traded on FTSE Stock Market and has been listed since July 1996. Vocalis brings back the reassurance of the most personal human touch in business - putting voice to work.
The Vocalis Website is at
Email: [email protected]
For further Vocalis Group information, contact: