check out the 17th oct meeting29 Oct 2014 08:16
17 October 2014
1pm plc
(“1pm” or the “Company”)
AGM & General Meeting
and
Result of Placing and Open Offer
1pm plc (AIM: OPM), the AIM listed specialist indep
endent provider of finance facilities to the SME se
ctor, announces
that, at the Annual General Meeting and General Meet
ing of the Company held today in Bath, all resolutio
ns put to
shareholders were duly passed. Accordingly, the Pl
acing and Open Offer announced on 22 September 2014
is expected to
complete, conditional on Admission, on 20 October 2
014.
The Open Offer closed for applications at 5.00 p.m.
on 15 October 2014. Valid applications under the O
pen Offer have
been received for 1,344,259 New Ordinary Shares fro
m Qualifying Shareholders.
The total amount subscribed by Placees and Qualifyi
ng Shareholders in the Fundraising is approximately £
3.82m by way
of:
•
a Placing of 4,918,032 New Ordinary Shares at 61 pen
ce per share to Placees to raise £3 million (before
expenses); and
•
a further issue of 1,344,259 New Ordinary Shares at
61 pence per share to Qualifying Shareholders pursu
ant to
the Open Offer to raise £0.82 million (before expen
ses)
The Company also announces that UK Private Healthca
re Limited, a company of which Ron Russell is a dir
ector and with
which he is connected by virtue of a 25 per cent. s
hareholding, has agreed to convert an outstanding lo
an of £380,000 into
Ordinary Shares at the Placing Price. UK Private He
althcare Limited will therefore be issued with 622,
950 new Ordinary
Shares pursuant to the loan conversion, representin
g approximately 1.69 per cent. of the Company’s enla
rged share
capital.
Application for the 6,262,291 new Ordinary Shares b
eing issued pursuant to the Placing and Open Offer ha
s been made
and admission is expected to take place on 20 Octob
er 2014. A further application has been made in re
spect of the
622,950 new Ordinary Shares to be issued pursuant t
o the conversion of the loan from UK Private Health
care Limited and
admission is expected to take place on 22 October 2
014. The New Ordinary Shares will rank
pari passu
with the existing
Ordinary Shares in issue.
In accordance with the provisions of the Disclosure
and Transparency Rules of the Financial Conduct Au
thority, the
Company confirms that, following these issues, its i
ssued share capital will comprise 36,854,570 Ordina
ry Shares of 10p
each. All of these Ordinary Shares have equal voti
ng rights and none of the Ordinary Shares are held in
Treasury. The
total number of voting rights in the Company is there
fore 36,854,570.
This announcement should be read in conjunction wit
h the full text of the Circular posted to Sharehold
ers on 22
September 2014, copies of which are available on th
e Company’s website at
www.1pm.co.uk
. Capitalised terms in this
announcement have the same meaning as given in the Ci
rcular.
Ne