Greencoat Renewables Regulatory News (GRP)

2 Oct 2006 14:48

AIM02 October 2006 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2 ALL APPLICANTS MUST COMPLETE THE FOLLOWING: COMPANY NAME: GruppeM Investments PLC COMPANY ADDRESS: Suite 1.3, Buckingham Court78 Buckingham GateLondon SW1E 6PD COMPANY POSTCODE: SW1E 6PD COUNTRY OF INCORPORATION: England & Wales COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED INACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES: The Company was established for the purpose of making investments in, inter alia, motor retailing in China andthe Far East. The Directors believe that, given the current market conditions in China, good opportunities exist forinvestment in motor retailing high value European sports cars. The trend is demonstrated by the number ofmarques entering China, which is now the world's third-largest car market. Following the Company's admission to AIM, which was effective on 18 February 2005, the Directors have evaluatedvarious opportunities in China in conjunction with Kenny Chen, Managing Director, whose connected companies,trading under the 'GruppeM' name, have existing business interests in China and the Far East. In particular,GruppeM Hong Kong Limited, owned by Pinocelle SA, a nominee company of Kenny Chen, has recently established amotor retailing business operating in Qingdao, Shandong Province in China, trading in Porsche cars. GruppeMHong Kong has secured the distribution rights for trading Porsche cars within Shandong Province and theDirectors believe that the trading of Porsche cars, including used Porsche cars, has significant potential forgrowth within China. The Company has reached agreement, subject, inter alia, to the approval of Shareholders (other than Kenny Chenand his father, Stephen Chen, Director, as a result of their interest in the transaction) to acquire fromPinocelle, the entire issued share capital of GruppeM Hong Kong (the "Acquisition"), which the independentDirectors believe represents a significant acquisition opportunity for the Company in-line with its statedstrategy, for an aggregate consideration of £4 million to be satisfied by the issue of 80 million new OrdinaryShares at 5p per share. DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price towhich it seeks admission and the number and type to be held as treasury shares): Admission of the enlarged issued share capital following the Acquisition, subject to Shareholders' approval atan EGM on 25 October 2006, comprising 100,000,000 Ordinary Shares of 1p each at 5p per share CAPITAL TO BE RAISED ON ADMISSION: N/A FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS: Existing DirectorsThe Rt. Hon. The Lord (Richard) Marsh of Mannington Kt. (Non-Executive Chairman)Kenny Jen-Te Chen (Managing Director)Paul Thomas McIlwaine ACA (Finance Director)Raymond Kwok Kit Man (Executive Director - dealership development)Stephen Yuan-Ching Chen (Non-Executive Chairman) Proposed Director Julian Michael Wrangham Hardy (Sales Director) PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARECAPITAL BEFORE AND AFTER ADMISSION:CURRENT DirectorsKenny Chen, through Pinocelle SA 75.0%Raymond Man 5.0%Stephen Chen 5.0% FOLLOWING ADMISSION DirectorsKenny Chen, through Pinocelle SA 75.5%Raymond Man 5.0%Stephen Chen 5.0%OtherNoble Hill Overseas Holdings Limited 4.0% NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIMRULES: N/A ANTICIPATED ACCOUNTING REFERENCE DATE: 31 December 2006 EXPECTED ADMISSION DATE: 30 October 2006 NAME AND ADDRESS OF NOMINATED ADVISER: Shore Capital and Corporate LimitedBond Street House14 Clifford StreetLondon W1S 4JU NAME AND ADDRESS OF BROKER: Shore Capital Stockbrokers LimitedBond Street House14 Clifford StreetLondon W1S 4JU DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENTTHAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: The admission document which will contain full details about the applicant and the admission of its securitieswill be available from: Shore Capital and Corporate LimitedBond Street House14 Clifford StreetLondon W1S 4JU It is available on www.gruppemplc.com DATE OF NOTIFICATION: 2 October 2006 NEW/ UPDATE (see note): New This information is provided by RNS The company news service from the London Stock Exchange