610k raised at 8p9 Feb 2015 16:26
not a bad price.,...explains the recent drop
Guscio PLC Issue of Equity
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TIDMGUSC
9 February 2015
Guscio PLC
("Guscio" or the "Company" or the "Group")
Issue of Equity
The Company is pleased to announce that it has raised GBP610,000 (before
expenses) through a placing via its broker, Peterhouse Corporate Finance, of
7,625,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a price
of 8p per ordinary share ("the Placing").
The proceeds of the Placing will be used to increase the cash reserves of the
Company and accelerate its stated strategy of investments into the technology
and media sector.
Richard Thompson, Non-Executive Chairman of the Company, has participated in
the placing and has invested GBP50,000 for 625,000 Ordinary Shares. Mr Thompson's
total holding following this investment will be 1,192,107 Ordinary Shares
equivalent to 7.80 per cent. of the enlarged share capital of the Company.
These shares are held through Amphitrite Limited which is wholly owned by Mr
Thompson.
Due to the fact that Mr Thompson is a Director of the Company, his
participation in the Placing constitutes a related party transaction as defined
by the AIM Rules. The Directors of the Company other than Mr Thompson, having
consulted with Sanlam Securities UK Limited, the Company's Nominated Adviser,
consider that Mr Thompson's participation in the Placing is fair and reasonable
insofar as shareholders are concerned.
Hargreave Hale Limited("Hargreave Hale")has invested GBP100,000 for 1,250,000
Ordinary Shares. Following this investment, Hargreave Hale's total holding will
be 2,478,733Ordinary Shares, equivalent to 16.2per cent.of the enlarged share
capital of the Company. Hargreave Hale currently holds1,228,733 Ordinary Shares
in theCompany, equivalent to 16.1 per cent. of the current issued share capital
of the Company. Therefore, as a substantial shareholder in the Company,
Hargreave Hale's participation in the Placing also constitutes a related party
transaction under the AIM Rules. The Directors of the Company, having consulted
with Sanlam Securities UK Limited, the Company's Nominated Adviser, consider
that Hargreave Hale's participation in the Placing is fair and reasonable
insofar as shareholders are concerned.
The Company has made an application for the New Ordinary Shares to be admitted
to trading on AIM. It is expected that admission will become effective on 16
February 2015 ("Admission").
Following the issue of the New Ordinary Shares, and for the purposes of the
Disclosure and Transparency Rules, the Company's total issued share capital on
Admission will consist of 15,274,429 Ordinary Shares.
The above figure may be used by shareholders as the denominator fo
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