Tricor Share Chat (TRIC)

Agree,

Don't throw good money at poor BOD, they had 5yrs and still messed up, avoid

Small lifeline but look at the dilution that comes with it and its still suspended....after a huge consolidation more same old dilution.....

OMG Its coming back to life again £480.000.00 to Invest !!!!!!!!!!!!!!1

Tricor PLC Notice of GM and New Funding

RNS Number : 3456Y

Tricor PLC

20 February 2013

TRICOR PLC

("Tricor" or the "Company")

New Funding and Notice of General Meeting

Tricor announces that it has successfully secured GBP480,000 of new funding by way of three interest free loans (the "Loans"). Tricor will utilise the funds raised by seeking investments in line with its approved investing policy and for working capital purposes. The Company will seek to substantially implement its investing policy and apply for trading in its ordinary shares of 0.001p each ("Ordinary Shares") to resume on AIM before 28 March 2013, the date on which otherwise the Ordinary Shares will be cancelled from trading on AIM altogether, six months of suspension having passed.

The terms of the Loans are as follows :
-- They are repayable at the discretion of the Company at any time within 2 years.
-- They do not carry a coupon.
-- GBP400,000 of the Loans will be used to make investments in line with the Company's investing policy and which will be secured against those investments. The Company has the right to transfer those investments to the relevant lenders at any time in full satisfaction of the GBP400,000.
-- The balance GBP80,000 Loan is unsecured and will be used for working capital.
-- The lenders will be issued with warrants to subscribe for, in aggregate, 88,100,000 Ordinary Shares ("Warrants") that can be exercised at any time up until 31 December 2017 at an exercise price of 0.5 pence per share, subject, in part, to certain resolutions being passed at a general meeting as detailed below.

-- The Company shall convene a general meeting to seek authority for the directors to allot shares up to a nominal value of GBP10,000, further details of which are set out below.

The Loans have been provided by three investors in the amounts and with the number of Warrants as set out below:

Name of lender Amount of No. of Warrants Percentage of issued
Loan share capital that
the Warrants would
represent if exercised
in full and no other
Ordinary Shares have
been issued
Goldslick Investments
SA GBP200,000 36,700,000 32.45%
Consiliou Growth Fund
SPA GBP200,000 36,700,000 32.45%
Landham Group Limited GBP80,000 14,700,000 13.00%*
------------ ---------------- ------------------------
Total GBP480,000 88,100,000 77.91%

*Excludes approximately 0.1% of the Company's issued share capital currently held by Landham Group Limited.

Background to and reasons for the Loans

In view of the fact that the Company had not implemented its investing policy within the time required by the AIM Rules, trading in the Company's ordinary shares was suspended on AIM on 28 September 2012. The Company therefore has until 27 March 2013, being six months later, to undertake a reverse take

Surprised they have managed some form of funding.....but its same old same old company....dilution after dilution..2 rns in 2 days and just pure dilution........

i listened to jaknife , well -ucked here , took me for 11k , life is life , lucky got it covered elswhere , on a average still beat the bank interest by 10 fold last year , live and learn ,,,,,,,,,,,,,,

Remember the good ole days on TRIC in April 2012 LOL

Almost worthless mate

What on earth are they gonna buy with 400k?, just another scam to keep BOD in job, same thing happened on CHA in January 2012, currently suspended as they didn't make an aquisitiin within 12mths, with thier paltry 700k, as i warned about 13mtjs ago,

Don't throw good money after bad management

:)

Hi, Riddler, what do think here, as i hold shares in this one, i brought them during the frenzy on their last day. any thought?