25 Oct 2017 16:42
RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For immediate release
25 October 2017
Kin Group Plc ("the Company")
Total Number of CVA Capitalisation Shares
Following the Company's announcement on 24 October 2017, the latest date for creditors to prove claims for the purposes of the CVA passed at 1.00pm today.
As at that time the Company had received aggregate claims from creditors amounting to £2,302,002.94. Pursuant to the terms of the CVA the Company will issue 23,020,029,400 ordinary shares of 0.0001p each credited as fully paid at a price of 0.01p per share to those creditors who have made claims.
Completion of the Company's proposals including the Placing, CVA and Board changes are conditional on the lifting of the suspension in trading of the Company's ordinary shares on AIM and Admission.
Further announcements will be made as appropriate.
Note: Definitions in this announcement will, unless otherwise stated, have the same meaning as in the circular to shareholders dated 5 October 2017.
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For further information please contact:
Donald Stewart (Chairman) | Kin Group Plc | 020 7449 1000 | |
Mark Brady/Neil Baldwin | SPARK Advisory Partners Limited (nominated adviser)
| 020 3368 3551 | |
Eran Zucker/Fungai Ndoro | Peterhouse Corporate Finance Limited | 020 7469 0930 | |
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