17 Apr 2012 15:46
17 April 2012
Oak Holdings plc
(to be renamed Pires Investments PLC)
("Oak" or the "Company")
Statement re:- restoration of trading and placing
Restoration of trading
Further to the announcement made earlier today the Company is pleased to announce that restoration of trading on AIM in the Company's shares is scheduled to occur at 07:30 on Wednesday 18 April 2012.
Investing Company
The Company will be classified as an investing company pursuant to the AIM Rules. The Company's investing policy is set out in the circular to shareholders dated 22 March 2012.
Pursuant to AIM Rule 15 the Company will have to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 or otherwise implement the investing policy approved at the general meeting to the satisfaction of the London Stock Exchange within twelve months of becoming an investing company, being 17 April 2013.
Capital reorganisation, re-admission of the existing shares and placing shares
Following the approval of the capital reorganisation the par value of the ordinary shares in the Company is £0.001. The Company's ISIN and SEDOL remain unchanged as a result of the Capital reorganisation.
Following the restoration of trading, the placing of 1,000,000,000 new ordinary shares of £0.001 will become unconditional, consequently application for the 1,055,570,856 ordinary shares of £0.001 par value has been made to the London Stock Exchange which is expected to occur 18 April 2012.
A further application for the new ordinary shares to be issued pursuant to the CVA will be made in due course, when such shares are allotted.
Further placing
In addition to the placing referred to above, the Company is pleased to announce that, due to further demand from professional and institutional investors, Rivington Street Corporate Finance, on behalf of the Company, has raised an additional £700,000, before expenses by way of a placing of 700,000,000 new ordinary shares in the Company at a price of £0.001. Application has been made for these shares to be admitted to trading on AIM on or around 24 April 2012.
The 700,000,000 new ordinary shares will rank pari passu with existing ordinary shares.
Enquiries:
Oak Holdings plc Peter Redmond, Director
| Tel: 0207 580 7576
|
Nominated Adviser Cairn Financial Advisers LLP Liam Murray / Avi Robinson
| Tel: 020 7148 7900
|
Broker Rivington Street Corporate Finance Limited Jon Levinson / Lucy Williams
| Tel: 020 7562 3357 |