31 Oct 2014 07:00
MXC Capital plc
("MXC" or the "Company")
Cancellation of Treasury Shares
Issue of Equity
MXC announces the cancellation of its treasury shares in accordance with the provisions of section 729 of the Companies Act 2006. The Company discloses the following details in relation to such cancellation pursuant to Disclosure and Transparency Rule 5.6.1A:
On 30 October 2014, the Company cancelled 899,726 ordinary shares of 1p each held in treasury by the Company. Following the cancellation, no treasury shares are held by the Company.
In addition, the Company will grant 3,000,000 new ordinary shares to Charles Vivian in satisfaction of consultancy fees owed to him by the Company (the "Consultancy Shares"). The Company is pleased to announce that Charles has now become a full time employee of the Company.
Application has been made to the London Stock Exchange for the Consultancy Shares to be admitted to trading on AIM and it is expected that admission will become effective and that dealings will commence on 6 November 2014.
Following Admission the Remuneration shares, the total number of voting rights in the Company will be 1,954,636,992.
The above 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)
Tim Metcalfe/John Depasquale/John Treacy
+44 (0)20 7533 7727
Newgate Threadneedle
John Coles / Hilary Buchanan
+44 (0)20 7653 9850
About MXC Capital
MXC is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.