16 Oct 2015 14:49
Ambrian plc
("Ambrian" or the "Company")
Completion of Fundraising and Board Appointment
On 30 September 2015, Ambrian announced a fund raising through the issue of convertible loan notes and warrants (the "Fundraising"). The Company announces that the resolution proposed at its General Meeting today was passed by shareholders and, accordingly, the Fundraising has now been completed.
The total amount raised by Ambrian pursuant to the Fundraising is £2,667,000 (before expenses). An aggregate of £2,667,000 nominal of convertible loan notes and an aggregate 33,337,500 warrants will be issued to investors on completion today.
Ambrian also announces the appointment of Charles Davies as a non-executive director of the Company with immediate effect. Following on from the appointment of Martin Abbott last week, the Ambrian board has now been strengthened by the addition of these two new non-executive directors.
Charles Davies founded and built The Link Asset & Securities Co Ltd into a world leading interdealer brokerage firm and sold it to ICAP plc in 2008. Since 2012, Charles has focused on building Edgebold JLT which is involved in construction, real estate, ship supply services and transport in Mozambique. He is also a major shareholder of Ambrian.
Robert Adair, Chairman of Ambrian, commented:
"I am delighted with the support we have received in the Fundraising and the Group is now well placed to deliver an improved performance for our shareholders. I am also very pleased to welcome Charles to the board. We believe that his considerable experience will benefit the Group as it diversifies into industrial assets to complement and strengthen our core physical marketing and value added activities. "
For further information, please contact:
Ambrian plc |
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Roger Clegg | +44 (0)20 7634 4700 |
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Cenkos Securities plc |
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Neil McDonald Nick Tulloch | +44 (0)131 220 9771 +44 (0)131 220 9772 |
In relation to the appointment of Mr Davies, the Company confirms that there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies save as disclosed below:
Full Name: | Charles Simon Hartley Davies |
Age: | 45 |
Current Directorships / Partnerships in the last 5 years: | Cerno Capital LLP Edgebold JLT Bolder SA First Cargo SA ASAP Lda First Base Promotores SA First Base Lda (Limitada) |
Previous Directorships / Partnerships in the last 5 years: | Edgebold Capital LLP Edgebold Holdings Ltd The Link Asset & Securities Co Ltd Linkbrokers Derivatives Corporation Inc Link Securities (Hong Kong) Ltd |
Current Shareholding in the Company: | 27,018,854 Ordinary Shares (11.12%) |
Notes to Editors
Ambrian is active in the physical trading of industrial metals and minerals. It sources and supplies a variety of commodities to end users all over the world. Supported by its offices in London, Shanghai, Taiwan, Singapore and a network of agents in North and South America, Asia and the Middle East, Ambrian provides producers and consumers with its marketing insight whilst emphasizing the financing and risk management aspect of its trading and logistic activities. Ambrian is also active in the cement business through its majority interest in a clinker grinding facility in Mozambique. Ambrian is quoted on the AIM market of the London Stock Exchange under the ticker symbol AMBR.