NVU Invu

RNS Number:5844X
INVU, Inc. (S)
01 June 2007

1 June 2007



INVU, Inc. ("Invu" or the "Company")



PLACING OF NEW ORDINARY SHARES TO RAISE #4.0 MILLION



INVU, Inc., the document management software provider, announces that 13,333,333
new common shares (of no par value) in the share capital of the Company (the
"Placing Shares") have been placed by Arbuthnot Securities Limited with
institutional and other investors at a price of 30 pence per share to raise
approximately #4.0 million before expenses (the "Placing"). The Placing Shares
represent approximately 13.3 per cent. of the existing issued share capital of
the Company.


Background to and reasons for the Placing

When Invu's common shares (of no par value) were first admitted to trading on
AIM in January 2004, it was necessary to have two different lines of shares with
the "ticker symbols" NVUK (Reg S) and NVU. The NVU shares were the original
shares in Invu when its shares were quoted in the United States on the OTC
Bulletin Board. When the Company's shares were admitted to trading on AIM, the
new shares issued were the NVUK shares, which were subject to transfer
restrictions under Regulation S under the US Securities Act of 1933, as amended
(the "Securities Act"). The NVU shares are more illiquid because there is a
lower number of NVU shares in issue and, as a result, holders of such shares
have encountered difficulty in being able to sell their shares on AIM.


In addition, the Company's directors believe that the liquidity of the Company's
shares is generally impaired by having the two separate "ticker symbols"
referred to above and the confusion this creates in the minds of potential
investors. Furthermore, in the directors' opinion, the shares' liquidity is
further impaired by the fact that shares issued pursuant to Reg S or sold by
affiliates of Invu cannot be traded in CREST due to the risk of breaching the
transfer restrictions of such shares. Therefore, the Company proposes to effect
a group reorganisation and creation of a new holding company incorporated in the
UK, so that, following such reorganisation becoming effective, the new holding
company could trade with a single line of shares which is capable of being
traded in CREST.


When the Company's shares were admitted to trading on AIM, the Company had
suspended its SEC reporting obligations. The Company has determined that it is
required to resume its reporting requirements under US securities laws and plans
to file an annual report on Form 10-K with the SEC for the financial year ended
31 January 2007, and current reports and quarterly reports, on Forms 8-K and
10-Q, respectively, as required thereafter.


Following the proposed group reorganisation becoming effective, the Company will
cease to be the holding company of the Invu group. Application will be made at
that time to the London Stock Exchange for the shares of the new holding company
to be admitted to trading on AIM. As a result, the Company's obligations to
file periodic reports with the SEC will be terminated. However, the new holding
company of the Invu group will be subject to the SEC reporting requirements for
foreign private issuers in the event that it ever meets certain criteria in the
future, including having more than 300 US shareholders of record.


The Company expects to announce further details of the proposed group
reorganisation in due course. Any proposals will be subject to the approval of
the Company's shareholders.



Use of proceeds

The net proceeds of the Placing will be used for two purposes. First, to fund
the proposed group reorganisation referred to above and, secondly, to invest
further in product development and sales and marketing to accelerate future
growth of the Company.


The Placing is conditional, inter alia, on the admission of the Placing Shares
to AIM becoming effective. Application has been made to the London Stock
Exchange for the Placing Shares to be admitted to trading on AIM. The Placing
will be in two tranches to protect the Company's VCT status. Subject to
admission, dealings in those Placing Shares which will constitute a qualifying
holding for VCT purposes are expected to commence on 6 June 2007 and dealings in
respect of the remaining Placing Shares are expected to commence on 7 June 2007.


The Placing Shares will rank pari passu with the existing common shares (of no
par value) in the share capital of the Company and will be subject to the same
Regulation S transfer restrictions as the shares issued by the Company in
January 2004, at the time of the admission of its shares to trading on AIM, and
the further issue of shares in November 2004.


David Morgan, Chief Executive Officer of Invu, commented,


"We are delighted with this successful placing, which reflects the confidence of
both existing shareholders and new investors in our strategy and growth
prospects. The proposed share capital reorganisation and single line of shares
represent a sensible move for the Company and is an important step in the next
stage of our development. In particular, we hope that our shareholders will
benefit from improved liquidity and a simpler way of viewing our performance and
trading in the Company's shares. With our AIM quote, headquarters, management
and business activities all centred in the UK, it is natural for us to become a
UK resident company."



For further information please contact:
Invu Inc                                                           01604 859 893
David Morgan, Chief Executive
John Agostini, Finance Director

Financial Dynamics                                                 020 7831 3113
Juliet Clarke / Hannah Sloane

Arbuthnot Securities                                               020 7012 2000
Tom Griffiths



About Invu



Invu (LSE, AIM, Symbol; NVUK) develops, markets and sells software (under the
brand name of Invu) for the electronic management of all types of information
and documents, such as forms, correspondence, literature, faxes, e-mail,
technical drawings, electronic files and web pages. Invu targets the
small-to-medium size enterprise ("SME") market, and individual departments of
larger organisations with a range of products which the Directors believe
strongly adhere to Invu's brand values of ease of use, high quality and price
performance. Founded in 1997 and based in Northampton, Invu has 54 employees and
operates in the UK, Ireland, The Netherlands, South East Asia and Australia. It
raised over #3.5 million following its flotation on the AIM stock market in
January 2004. Invu's products have been sold to nearly 3,000 customers,
representing approximately 54,500 licensed users. Invu has a proven reseller
business model and has established a network of more than 130 Value Added
Resellers, 10 of which are in Benelux.



Invu is a Microsoft Gold Certified Partner and a member of the Business
Application Software Developers Association (BASDA). Its version 5.4 and Series
6 software have been accredited by the Institute of Chartered Accountants in
England & Wales (ICAEW). In January 2006, Invu became the first EDM ISV to join
SAP's portfolio and is certified for integration with SAP Business One. In
September 2006, the Invu Series 6 product was selected by Sage to be marketed by
them into the Professional Adviser market in the UK.



For more information on Invu see http://www.invu.net



This announcement and the information contained herein may not be transmitted or
distributed within the United States of America (the "United States") and must
not be distributed or forwarded to U.S. Persons (as defined in Regulation S of
the Securities Act) or publications with a general circulation in the United
States. This announcement does not constitute an offer or invitation to
purchase any securities in the United States. The Placing Shares have not been
registered under the Securities Act and may not be offered, sold or delivered
within the United States or to U.S. Persons absent registration under, or an
applicable exemption from, the registration requirements of the Securities Act.
Hedging transactions involving Invu shares may not be conducted unless in
compliance with the Securities Act. Invu does not intend to make a public offer
of securities in the United States.





END


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