Last checked at 26 Oct 2010 12:00
KLEENAIR SYSTEMS INTERNATIONAL PLC
(AIM: KSI)
Issue of Equity
Kleenair Systems International Plc ("Kleenair" or "the Company") announces that it has completed a placing of 1,580,000 new ordinary shares of 1 pence each ("New Ordinary Shares") at a price of 40 pence per share raising new monies totalling approximately £632,000 ("the Placing").
The proceeds of the Placing will be used for working capital purposes and to further implementation of the Company's investment policy as agreed at the General Meeting on 3 August 2010.
Further to the Placing the following shareholders have a disclosable interest:
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| Placing shares acquired | Revised total holding | Revised % |
| Pinnacle Investment Management Limited | 200,000 | 400,000 | 8.6% |
| Entavo Trading AG Limited | 625,000 | 625,000 | 13.4% |
| Ottilia Investments Limited | 125,000 | 250,000 | 5.4% |
| Challis International Limited | 625,000 | 625,000 | 13.4% |
John Gunn is a director and shareholder of Pinnacle Investment Management Limited and is a substantial shareholder in Kleenair. The directors, having consulted WH Ireland Limited, the company's nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
Application for these shares to be admitted to trading on AIM has been made and is expected to occur on 1 November 2010. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following this issue the Company will have 4,604,546 Ordinary Shares of 1 pence each in issue.
In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R), the Company confirms that, following this issue, its issued share capital comprises 4,604,546 Ordinary Shares of 1 penny each, 400,932 Deferred Shares of 99 pence each and 122,120 B Ordinary Shares of 1 penny each. The Deferred Shares and B Ordinary Shares have no voting rights. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 4,604,546. 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 share capital of the Company under the Disclosure and Transparency Rules.
| Contacts: |
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| Kleenair Systems International plc | www.kleenairsystems.co.uk |
| Sarah Pozner, Company Secretary | +44 (0) 207 736 3498 |
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| Biddicks | www.biddicks.co.uk |
| Zoë Biddick | +44 (0) 20 7448 1000 |
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| WH Ireland Limited | www.wh-ireland.co.uk |
| JN Wakefield / Marc Davies | +44 (0) 117 945 3470 |