24 Dec 2015 13:12
GLENWICK PLC
(the "Company")
Block Listing Application
The Company is pleased to announce that a block listing application has been made to the London Stock Exchange for the admission to trading on AIM of up to 260,451,370 ordinary shares in the Company (the "Block Listing Shares").
As part of the finance raising by the Company on 29 October 2015, warrants were issued to participants in that raising. The Block Listing Shares are the total number of shares that would be issued pursuant to the exercise of all of those warrants issued. If all the warrants are exercised, the Company would receive issue proceeds of £182,000 which will further enable it to pursue its recently approved new investing policy, and the shares that would be issued would represent approximately 18.92% of the current issued share capital.
The application for the admission of the Block Listing Shares has been made to AIM in advance for ease of administration as some warrants have now begun to be exercised. Block Listing Shares will be issued from time to time pursuant to the exercise of warrants by individual warrant holders during the relevant exercise period. The Company will update the total shares on issue on its website on a regular basis.
The Block Listing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing common shares of the Company. It is expected that the block admission will become effective on 30 December 2015 and that shares will be issued and admitted pursuant to the exercise of any warrants within 5 trading days following a valid exercise of the warrants.
For further information please contact:
FIM Capital Limited | |
Graham Smith
| +44 1624 681 250 |
Allenby Capital Limited (Nominated Adviser and Joint-Broker) John Depasquale |
+44 203 328 5656 |
Peterhouse Corporate Finance Limited (Joint-Broker) Lucy Williams / Heena Karani |
+44 207 469 0933 |