ALB.L Regulatory News (ALB)

12 Oct 2006 07:30

Albany Capital PLC12 October 2006 12 October 2006AIM: BNX ALBANY CAPITAL plc ("Albany" or "the Company") (formerly Bionex Investments PLC) Completion of Placing Director appointment The board of Albany today announces, following the passing of the resolutionsproposed to shareholders at the Extraordinary General Meeting of the Company on9 October (as announced on 9 October), that, further to today's admission to theAIM market of 413,750,000 additional shares in the capital of the Companypursuant to a placing, the Company has now unconditionally raised £8,275,000gross (£8,125,000 after expenses). The additional shares will rank pari passuin all respects with the existing shares in issue. The issued share capital of the Company following completion of the placing is591,675,634 ordinary shares of 1 pence each. The board of Albany also announces today the appointment of John Nigel MajorMcLean (aged 53) to the board of the Company as a non-executive director. MrMcLean is a chartered accountant and was a senior manager at Coopers & Lybrandboth in London and New York, finance director of Gresham House plc, managingdirector of ICS (in which company he led a management buy-out) and managingdirector of Arthur Sanderson & Sons (Holdings) Limited. He is currentlymanaging director of Fairfax Classical Properties and a director of WestminsterGrowth Capital. The following information is required to be disclosed in respect of Mr McLeanunder the AIM Rules: Other current directorships Directorships held within the last five years Fairfax Classical Properties Limited Cameron Corporation LimitedFairfax Acquisitions Limited ASSL (Realisations) LimitedAtholl Ventures Limited Arthur Sanderson & Sons (Scotland) LimitedWestminster Growth Capital Limited Arthur Sanderson & Sons (Holdings) Limited M&C (Artworkers) Limited Sanderson & Sons Holdings Limited Gamma (Nelson) Limited S of l limited WM Wallpapers Limited Notes: 1 An administrative receiver of ASSL (Realisations) Limited (formerly Arthur Sanderson & Sons Limited) was appointed on 7 August 2003 and the company was placed into creditors' voluntary liquidation on 20 November 2003. Mr McLean was a director of that company on both such events, having been appointed on 26 June 1998 by Gamma Holdings NV to implement a strategic review of the business. Although the company did return to profitability while Mr McLean was a director, the company required additional funding both to grow and to complete the restructuring. However, it was not possible to obtain the additional funding for the company and so an administrative receiver and then a liquidator was appointed. The deficiency to creditors was £41.078 million. 2 An administrative receiver of Sanderson & Sons Holdings Limited was appointed on 7 August 2003 and the company was placed into creditors' voluntary liquidation on 20 November 2003. Mr McLean was a director of that company on both such events, having been appointed on 24 January 2001 by Gamma Holdings NV. Sanderson & Sons Holdings Limited was the parent company of ASSL (Realisations) Limited. After paying creditors the surplus was £143,863. No other information falls to be disclosed in respect of Mr McLean underschedule 2(g) to the AIM Rules. For further information please contact: Albany Capital PLC Chris Roberts +44 (0) 20 7937 4445W.H. Ireland Limited Peter Jackson +44 (0) 20 7220 1666 This information is provided by RNS The company news service from the London Stock Exchange