18 Dec 2014 08:42
MXC Capital plc
("MXC" or the "Company")
Issue of Equity
The Company has agreed to grant 10,714,000 new ordinary shares to Alex Sandberg in satisfaction of a three year consultancy agreement for the provision of corporate communications and strategic advice (the "Consultancy Shares"). The Company has the right to repurchase the Consultancy Shares under certain circumstances if the consultancy agreement is terminated.
The Consultancy Shares will be issued in two tranches with 5,347,000 being issued immediately with 5,347,000 shares to be issued on 5 January 2015. Application has been made to the London Stock Exchange for the first tranche of Consultancy Shares to be admitted to trading on AIM and it is expected that admission will become effective and that dealings will commence on 24 December 2014.
Following Admission of the first tranche of Consultancy Shares, the total number of voting rights in the Company will be 1,959,983,992 which 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 Company, under the FCA's Disclosure and Transparency Rules.
MXC Capital plc
Marc Young
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
John Depasquale/John Treacy
+44 (0)20 7533 7727