1 Feb 2013 14:59
1 February 2013
IPSO Ventures plc
(to be re-named Plutus Resources plc)
(the "Company")
Completion of Demerger and Subscription
Further to the announcement made by the Company on 31 January 2013, the Company is pleased to confirm that admission of the Subscription Shares to trading on AIM became effective at 8.00am this morning, resulting in completion of the Proposals.
Pursuant to the Proposals, the Company has raised £360,000 (before expenses) through a subscription for 104,000,000 new Ordinary Shares at 0.25p per Ordinary Share and the issue of £100,000 of Convertible Loan Notes convertible into 40,000,000 new Ordinary Shares.
Nicholas Lee has joined the Board as a Non-Executive Director and John Kelly has stepped down from the Board. Craig Rochford (formerly executive Chairman) remains on the Board as a Non-Executive Director. In addition, Charles Tatnall and James Longley, both of whom are Subscribers, have joined the Company in non-Board capacities with James Longley acting as Chief Financial Officer and Company Secretary and Charles Tatnall acting as a consultant to the Company.
The Board confirms that, following Admission of the Subscription Shares, it is aware of the following Shareholders that have interests in 3 per cent. or more of the issued share capital of the Company, as detailed below:
Shareholder | Number of Ordinary Shares | Percentage of issued share capital |
Paternoster Resources plc* | 40,000,000 | 27.9 |
Charles Tatnall | 28,000,000 | 19.5 |
James Longley | 20,000,000 | 13.9 |
Richard Hoblyn | 8,000,000 | 5.6 |
Robert Savill | 6,000,000 | 4.2 |
Andrew Hobbs | 5,740,000 | 4.0 |
* Nicholas Lee (Non-Executive Director of IPSO) is also Chairman of Paternoster Resources plc
Definitions in this announcement are consistent with those set out in the circular issued to Shareholders of the Company on 28 December 2012, a copy of which is available on the investor section of the Company's current website (http://www.ipsoventures.com).
For further information, please contact:
IPSO Ventures plc Nicholas Lee, Non-Executive DirectorCraig Rochford, Non-Executive Director | Tel: 020 7462 0093
|
Allenby Capital Limited(Nominated Adviser and Broker) Mark ConnellyNick Athanas | Tel: 020 3328 5656 |