LOS ANGELES and WILMINGTON, Del., Sept. 17, 2013 (GLOBE NEWSWIRE) -- DDD Group plc (AIM:DDD) (OTCQX:DDDGY), the 3D solutions company ("DDD" or the "Company"), announces that on September 16 2013 it placed 7,039,760 ordinary shares of 1 pence each in the capital of the Company ("Placing Shares") with a wholly owned subsidiary of InterDigital, Inc. (Nasdaq:IDCC) at a placing price of 8.175 pence per share raising approximately £575,500 (approx. US $915,000) before expenses (the "Placing") equivalent to the average closing mid-market price of 8.175 pence per share on the five days before 16 September 2013 (being the latest practicable date before this announcement).
The net proceeds from the Placing of approximately £568,500 (US $904,000) will allow the Company to continue to develop its business activities related to the HD and UHD video processing technologies recently announced by the Company.
The Placing Shares have been placed with InterDigital which has made this strategic investment at the same time as entering into a joint technology development agreement with DDD as separately announced today.
Following the issue of the Placing Shares, the Company's existing issued share capital has increased by 5% from 136,628,812 shares to 143,668,572 shares. In accordance with the requirements of the Disclosure and Transparency Rules, DDD's issued share capital as at 23 September 2013 will consist of 143,668,572 ordinary shares with a nominal value of £0.01 each, with voting rights. DDD does not hold any ordinary shares in Treasury; therefore, the total number of voting rights in DDD is 143,668,572. 143,668,572 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, DDD under the Financial Service Authority's Disclosure and Transparency Rules.
Application for the Placing Shares to be admitted to AIM has been submitted to London Stock Exchange, and it is expected that admission will take place on or around 23 September 2013.
Commenting on the Placing, Nicholas Brigstocke, Chairman of DDD, said:
"It is a pleasure to welcome InterDigital as a strategic investor in this placing, which validates the latest technologies that have been developed by our research and development team to address key requirements in the growing markets for streaming high definition and ultra high definition video content.
"The separate development agreement announced today with InterDigital provides the Company with a strong partner with whom we can further develop these new technologies."
About DDD
DDD transforms the visual experience by bringing 3D to the consumer. Its TriDef®3D solutions convert 2D to 3D automatically, and enable delivery to 3D TVs, PCs and mobile devices. Leading brands including Samsung, LG Electronics, Lenovo and Sony license these solutions. Over 33 million TriDef 3D products have been shipped by DDD's licensees worldwide. DDD's Yabazam® label delivers 3D everywhere with its online content portal and Smart TV apps. DDD's shares are quoted on the London Stock Exchange's AIM Market (AIM:DDD) and in the United States on the OTCQX® marketplace (OTCQX:DDDGY). For more information please visit www.DDD.com.
About InterDigital
InterDigital® develops fundamental wireless technologies that are at the core of mobile devices, networks, and services worldwide. InterDigital solves many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S &P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.