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14 Jul 2010 07:00
14 July 2010 Cubus Lux plc ("Cubus Lux" or the "Company") Issue of Equity
The Company is pleased to announce that it has raised £325,000 through the issue of 2,321,429 new ordinary shares of 10p each (the "Placing Shares") at 14p per share. The funds raised will be used to finance certain project costs and short term working capital commitments.
The Placing Shares represent 10.8 per cent. of the Company's enlarged share capital and application has been made for their admission to trading on AIM. It is expected that dealings will commence at 8.00 a.m. on 19 July 2010.
The Placing Shares have been issued, in part, to three directors of the Company; Gerhard Huber, Christian Kaiser and Steve McCann. Following the issue of the Placing Shares the interests of these directors is as follows:
Director Placing Shares Current Percentage Options Held
issued Shareholding Shareholding Gerhard Huber 714,286 3,930,948 18.2% 2,200,000 Christian Kaiser 357,143 2,608,748 12.1% 600,000 Steve McCann 714,286 744,286 3.4% 1,130,000
The issue of the Placing Shares to Mr Huber, Mr Kaiser and Mr McCann is deemed a related party transaction under the AIM Rules for Companies. The independent directors, having consulted with Astaire Securities plc, as the Company's nominated adviser, consider that the terms of the transaction are fair and reasonable in so far as the Company's shareholders are concerned.
Following this issue of shares, the Group will have an issued share capital of 21,582,551 ordinary shares of 10p each. As the Group does not hold any ordinary shares in Treasury its total number of voting rights equals its capital. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.
For further information about the Company please see www.cubuslux.com orcontact:Cubus Lux plc Steve McCann +44 (0) 7787 183 184 Astaire Securities Antony Legge / Luke Cairns +44 (0) 20 7448 4400plc (Nomad)
Hybridan LLP (Broker) Claire Louise Noyce / Stephen +44 (0) 20 7947 4350
Austin City Road Pam Spooner +44 (0) 20 7248 8010
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