Issue of Shares following first close
The Board of Directors is pleased to confirm that at a meeting on 29 March 2018 they accepted Applications for Subscription received by the Company in respect of the Offer contained in the Company’s Circular dated 12 February 2018 which had its first close on 26 March. At the meeting it was confirmed that the Company would issue a total of 236,812 Ordinary Shares of 5p at 94p each. The gross proceeds received by the Company from this subscription are GBP222,603.28.
The applications included subscriptions from existing shareholders and new investors and further applications and subscriptions are expected prior to the current closing date of 30(th) April.
Following the issue of the ordinary shares referred to above the issued share capital of the Company is now 3,527,037 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculation by which they determine if they are required to notify their interests in, or change to, their interest in the Company under the FCA’s Disclosure and Transparency Rules.