Sign In
20 Jul 2016 07:00
20 July 2016
Mercom Capital Corporation Plc
("Mercom" or "the Company")
Placing and warrant issue
The Company is pleased to announce that it has conditionally raised £225,000 before expenses through the placing of 9,000,000 new Ordinary Shares of 0.1p each (the "Placing Shares") at a price of 2.5p per Placing Share (the "Placing") with new shareholders, together with the issue of warrants over Ordinary Shares on the basis of one warrant for every two Placing Shares exercisable at a price of 5p per share for a period of six months from admission of the Placing Shares to trading on AIM.
In addition, the Board has been advised that two directors of the Company, namely John Zorbas and Kyle Appleby, intend to subscribe for a total of 3,000,000 shares on the same terms following the announcement of the Placing.
The net proceeds of the Placing will be applied to increase the Company's working capital and to facilitate additional investments under the Company's investing policy.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Placing, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.
A further announcement will be made in due course.
END
For further information, please contact:
Mercom Capital Plc John Zorbas | 001 416 504 3978 |
Northland Capital Partners Limited Nominated Adviser and Broker Edward Hutton / Matthew Johnson |
+44 (0) 20 3861 6625 |
Beaufort Securities Limited Joint Broker Elliot Hance |
+44 (0) 20 7382 8300 |
Follow the stocks
