Armadale Capital Regulatory News (ACP)

27 Aug 2008 10:00



Watermark Global Plc

("Watermark" or "the Company")

Issue of Equity 

The Directors of Watermark announce that the Company has applied for admission to trading of 17,500,000 ordinary shares of 0.15 pence which are expected to be admitted to trading on 1st September 2008. 

These shares represent the second and final tranche of the corporate advisory and completion fee in which Peregrine Corporate Limited ("Peregrine") and its nominees and LSAF Holdings Limited ("LSAF") as advisers agreed to take shares in Watermark in lieu of a cash consideration on successful completion of the transaction. The shares are allotted as follows:

15,000,000 to Peregrine and/or its nominees. After this allotment, Peregrine and/or its nominees hold 66,353,834 shares in the Company or 26.24% of the enlarged share capital.

2,500,000 to LSAF, and/or its nominees. After this allotment, LSAF holds 2,500,000 shares in the Company or 0.99% of the enlarged share capital.

 The new ordinary shares will rank pari passu with the existing shares of the Company. Following the allotment, the total issued share capital of the Company has increased to 252,869,110 ordinary shares with voting rights. The Company holds no shares in Treasury, therefore the total number of voting rights in the Company is 252,869,110.

This figure of 252,869,110 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Enquiries:

Dirk Kotze, Chief Financial Officer Tel: + 44(0) 20 7233 1462 

dkotze@watermarkglobalplc.com 

Investor Relations 

Charles Zorab Tel: + 44(0) 20 7233 1462 

czorab@watermarkglobalplc.com

Nominated Adviser: Cenkos Securities 

Ian Soanes/Elizabeth Bowman Tel: +44(0)20 7397 8928