Citius Res Regulatory News (CRES)

26 Mar 2008 15:21

Crescent Hydropolis Resorts PLC26 March 2008 CRESCENT HYDROPOLIS RESORTS PLC ANNOUNCEMENT New Equity and Options Issue The Directors of Crescent Hydropolis Resorts PLC (the Company) announce that theCompany has today placed 13,500,000 ordinary shares (Ordinary Shares) with twoGerman investors and one British investor at €0.03 (2.3p) per Ordinary Share toraise €391,500 net to the Company. Application has been made for 7,000,000 Ordinary Shares to be admitted totrading on AIM, and trading is expected to commence on 1 April 2008. Applicationfor the balance of 6,500,000 Ordinary Shares is expected to be lodged on 28March 2008. The Company further announces that it has issued options for Ordinary Shares(Options) to investors of the Company to purchase up to an additional 13,500,000Ordinary Shares at €0.05 (4p), raising an additional €13,500 net to the Companyupon issuance in the form of advance premium payments. When fully exercised, theOptions will raise an additional €661,500 net to the Company. The Options may beexercised at a time not earlier than 1 June 2008 and not later than 31 December2010. The net amount of cash raised today by way of share placements and Optionsissuance is €405,000. The Company has also today issued and allotted 4,945,000 Ordinary Shares to fourindividuals and one company at €0.10 (8p) per Ordinary Share to reduce currentoutstanding liabilities owed by the Company by €494,500. The Company furthercompleted payment of commission obligations totalling €112,500 for capitalraised in previous rounds of private placements by issuing and allotting 937,500Ordinary Shares to six individuals at €0.12 (9.6p) per Ordinary Share. In sum total, application has been made for 12,882,500 Ordinary Shares to beadmitted to trading on AIM, and trading is expected to commence on 1 April 2008. Changes to Shareholdings The Company announces that Mr Joachim Hauser, recently retired executivechairman, has reduced his holdings in the Company to 1,000,000 Ordinary Shares,which, at less than 3% of the Company's outstanding shares, is no longerdisclosable. Effective today, Mr Hauser has transferred 15,617,849 OrdinaryShares under holdings held previously by him to seven other Poseidon Investorsnone of whose holdings when aggregated together represent more than 3% of theCompany's shares, and in none of which Mr Hauser has any further interests. The Company announces further that on 25 March 2008, at the close of business,Mr Klaus Foerster, acting as trustee for Neptune Investors, transferred8,284,260 Ordinary Shares to ten (10) shareholders, none of whom when aggregatedwith previous holdings, own more than 3% of the Company's shares. As a result ofthese transfers, Mr Foerster acting as trustee for Poseidon and NeptuneInvestors now holds 18,412,572 Ordinary Shares of the Company, representing18.10% of Company's total outstanding shares. Mr Foerster also announces that effective today he is no longer acting astrustee for Apollo Investors, and that this duty has been taken over by MrNicholas J. Aynilian for the Apollo Investors. As a result of the issue of equities and transfer of shares, the followingshareholdings amounting to 3% or more of the ordinary share capital of theCompany are shown in the Table below. Investor Name No. of Ordinary Shares % of Share CapitalPoseidon Investors 16,617,849 17.44%Manfred Buettner 9,367,708 9.83%Alfred Wuttke 8,606,667 9.03%Apollo Investors 7,575,000 7.44%Suhail al Dhaheri 3,525,000 3.70% Issued Share Capital As a result of the equity issues announced by the Company today, the Company'sissued share capital is 95,266,131. Proposed Change of Name The Board of Directors will propose, at the Company's next annual generalmeeting, that the Company's name is changed from Crescent Hydropolis Resorts PLCto Hydropolis PLC. Change of Corporate Secretary The Company announces that effective 1 April 2008 Devonshire Corporate ServicesLimited has resigned as Corporate Secretary to the Company and that IFGInternational has assumed the duties of Corporate Secretary effective on thesame date. For further information contact:- Uwe Hohmann Chief Executive +971 50 55 11 018 uwe.hohmann@crescent-hydropolis.com Richard Swindells/Natasha Reed Nabarro Wells 020 7710 7400 This information is provided by RNS The company news service from the London Stock Exchange