5 Dec 2014 08:55
05 December 2014
Insetco plc
("Insetco" or the "Company")
Subscription and Issue of equity
Insetco announces that, on 4 December 2014, it has raised £100,000 by way of equity subscriptions for 66,666,666 new ordinary shares of 0.001p each in the capital of the Company at a price of 0.15p per. The funds raised will be used for general working capital. On completion of the subscription, Agrest Global Ltd, a Cayman Island registered fund, will be interested in 50,000,000 ordinary shares, representing approximately 5.28 per cent. of the Company's issued ordinary share capital.
Issue of Equity
Application has been made for 100,000,000 new ordinary shares in the Company to the London Stock Exchange which are expected to occur on or around 10 December 2014. The new ordinary shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following the issue of equity described above, the so enlarged issued share capital of the Company will comprise 945,449,762 ordinary shares of 0.001p each. Each ordinary share carries the right to one vote at general meetings of the Company. The Company does not have any ordinary shares in treasury.
This 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 Financial Conduct Authority's Disclosure and Transparency Rules.
Insetco plc | |
Barry Heath | 020 7866 0639 |
Cairn Financial Advisers LLP | |
Jo Turner / Liam Murray | 020 7148 7900 |