Last checked at 4 Nov 2011 13:40
For Immediate Release | 4 November 2011 |
CSS Stellar plc
(the "Company")
Issue of equity, Board changes and change of registered address
Issue of equity
The Company is pleased to announce that it has conditionally placed 25 million new ordinary shares of 1p each at a price of 1.25p (the "Placing Shares") with new shareholders ("the Placing") to raise £312,500. The Placing will provide the Company with additional funds to implement its investing policy.
As mentioned in its recent half yearly report, certain of the opportunities available to the Company for investment do not fall within the investing policy adopted in March 2011. With this in mind, the directors are, subject to shareholder approval, considering amending the investing policy to enable them to fully consider and, if deemed appropriate, invest in these opportunities. Further details will be announced in the near future.
Application will be made for the Placing Shares, which will rank pari passu with the existing ordinary shares, to be admitted to AIM. Dealings in the Placing Shares are expected to commence on or around 11 November 2011 ("Admission").
Following Admission, there will be 53,976,581 ordinary shares in issue. The Company holds 232 ordinary shares as treasury shares. Therefore, the total number of voting rights in the Company is 53,976,349. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Board changes
The Company also announces changes to the Board of Directors.
David Lenigas and Donald Strang join the Board as Executive Director and Finance Director respectively, with immediate effect.
Mr. Lenigas (50) is Chairman of Lonrho plc, Lonrho Mining Limited, LonZim plc, Leni Gas and Oil plc and Solo Oil plc. He is a Director of Vatukoula Gold Mines plc and a Non-Executive Director of Rare Earth Minerals Plc.
Mr. Strang (43) is Finance Director of Leni Gas and Oil plc.
Mr. Lenigas and Mr. Strang will serve on the Audit and Remuneration committees. The information that is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies is set out below.
Interests in shares
Following the issue and allotment of the Placing Shares and Admission, the interests of the Directors and those shareholders who are interested, where known, in 3% or more of the issued share capital of the Company will be as follows:
Directors | % |
Julian Jakobi | 9.9 |
John Webber | 5.6 |
David Lenigas | 3.0 |
Donald Strang | 3.0 |
Others | |
Nick Gold | 9.8 |
Kirwan Morzaria | 8.9 |
Amberdays Limited | 8.2 |
Green Hair Services Limited | 5.2 |
Alphagen Fund Volantis Limited | 3.1 |
Change of registered address
The Company also announces that the Directors have resolved that the Company's registered address be changed to Suite 3b, 38 Jermyn Street, London SW1Y 6DN.
For further information, contact:
CSS Stellar plc | |
Julian Jakobi David Lenigas
| Tel: 020 7535 7225 Tel: 020 7440 0640
|
Northland Capital Partners Limited (Nominated Adviser and Broker) | |
Luke Cairns / Edward Hutton
| Tel: 020 7796 8800 |
David Anthony Lenigas
Current directorships
Lonrho Transport Limited Solo Oil International Limited LAH Jersey Limited LAH Jersey 2 Limited LAH Jersey 3 Limited Lonrho Africa (Holdings) Limited 670 Plc Lonrho Ports & Infrastructure Limited Lonrho Infrastructure Limited Lonrho Ports Limited Lonrho Support Services Limited Swissta Holdings Limited Swissta Mozambique Lda Strenner Holdings Limited Lonrho Africa Holdings BV e-Kwikbuild SA (Pty) Limited Africa Expeditions Limited Best in Tents Limited Afex Holdings Limited Global Horizons Limited Luba Freeport Limited Lonrho IT Limited Sociedade Comercial Bytes & Pieces Limitada Complete Enterprise Solutions Limited Indit Technology Distribution (Pty) Limited Complete Enterprise Solutions (Pty) Limited Lonrho South Africa (Pty) Limited Lonrho Management South Africa (Pty) Limited Lonrho Projects South Africa (Pty) Limited Lonrho Projects Consulting (Pty) Limited Lonrho Projects Agri (Pty) Limited Lonrho Energy (Pty) Limited Lonrho Securitec (Pty) Limited Lonrho Amathonga Hotels (Pty) Limited Lonrho Hotels Congo (BVI) Limited Lonrho Oil (Malawi) Limited Lonrho Infrastructure (BVI) Limited Lonrho Agribusiness (BVI) Limited Laytons Offshore Limited Rollex (Pty) Limited Lonrho Logistics (Pty) Limited Fresh Direct Limited Rollex (Pvt) Limited Lonrho Agriculture Angola Limited Protea Seafoods Oceanfresh Seafoods (UK) Limited Oceanfresh Seafoods (Pty) Limited Lonrho Agribusiness Limited Fish On Line (Pty) Limited Crop Harvest Limited Mozambique Machines Limited Lonrho Springs BV Lonrho Water Limited Cultivate Harvest Limited Five Forty Aviation Limited Lonrho Air BV Lonrho Aviation (BVI) Limited Lonrho Air (BVI) Limited Lonrho Air (2) (BVI) Limited Lonrho Air Three (BVI) Limited Five Forty Africa (BVI) Limited Lonrho Air Africa (BVI) Limited Lonrho Ports BV Lonrho Ports Limited Lonrho Africa Hotels BV Lonrho Hotels Limited LAH Mozambique Hotels Limited DRC Hotels Limited Lonrho Hotels (Holdings) Limited Lonrho Budget Hotels Limited Lonrho Hotels BV Lonrho Hotels Management Services (BVI) Limited Hotel Accommodation Limited Lonrho Hotels Mozambique BV Lonrho Management Services Limited Lonrho Holdings Ltd Lonrho Resources Ltd Lonrho Finance Ltd Lonrho Investments Ltd Lontel Ltd Lonrho Africa Agribusiness BV Lonrho Africa Distributors BV Lonrho Africa Food Processing BV Lonrho Africa Motors BV Lonrho Distributors BV Lonrho Motors BV Lonrho Springs BV Zest Songs Limited Reggae Tunes Limited Zest Music Limited Zest Entertainments Limited Ret Services Limited Rare Earth Resources Limited Reef Resources Ltd Rare Earth Minerals plc (formerly Zest Group plc) |
Micobe Property Development Limited |
Lonrho Zimbabwe Management Services (Pvt) Limited |
Lonrho Africa Management Services (Zimbabwe) Ltd |
Lonrho Africa Motor Sales Limited |
Lonrho Properties Zimbabwe (Pvt) Ltd |
Lonrho Auto Distributors Limited |
Norse Air Limited (in liquidation) |
Sindu Properties (Private) Limited |
One Hundred & Seventeen Baines Avenue (Private) Ltd |
Textile Investment Company Limited |
Sol Aviation Company Limited |
Lonzim Holdings Limited |
Lonzim Properties Limited |
Lyons Africa Holdings Limited |
Linus Business Options (Private) Limited |
Firstfood Enterprises (Private) Limited |
Chenyakwaremba Farm (Private) Limited |
Leopard Rock Hotel Company (Pvt) Ltd |
Celsys Zambia Limited |
WS Foods (Pty) Ltd |
LonZim Hotels Limited |
Morningdale Properties (Pvt) Limited |
Lanuarna Enterprises (Pvt) Limited |
Medalspot (Pvt) Limited |
Paynet Limited |
African Solutions Limited Le Har (Pvt) Limited |
Southern African Management Services |
Aldeamento Turistico de Macuti, SARL |
Quickvest 525 (Pty) Limited |
ForgetMeNot Africa Limited |
Active Resource Realisation Fund |
Solo Oil plc (formerly Immersion Technologies International plc) |
Lonzim Agribusiness (BVI) Limited |
Lonzim Air (BVI) Limited |
LonZim plc |
Rex Mining (Pvt) Limited |
Peak Mines (Pvt) Limited |
Gardoserve (Pvt) Limited |
Celsys Limited |
Blueberry International Services Limited |
Blueberry Print (Zambia) Limited |
Wardlaw (1989) Limited |
Lonzim Management Limited |
Lonrho Mining Limited |
Leni Gas & Oil plc |
Lonrho plc |
Vatukoula Gold Mines plc (formerly River Diamonds plc) |
Past directorships held within the last 5 years
Vatukoula Australia Pty Ltd (formerly Westech Australia Pty Ltd) Vatukoula Gold Pty Ltd (formerly Westech Gold Pty Ltd) Vatukoula Finance Pty Ltd (formerly Westech Finance Pty Ltd) Vatukoula Gold Mines Ltd Jubilee Mining Ltd Koula Mining Ltd Templar Minerals Ltd Our Forgotten Children Limited River Diamonds UK Limited Byron Energy Pty Ltd Lonrho Jersey Limited |
Hot Tuna International plc |
Hot Tuna (International) Inc |
Capberg Ltd (formerly Lonzim plc) |
SA Independent Liners (Pty) Ltd |
Templar Resources Limited |
Indo Mineratama BVI Limited |
Mediterranean Oil & Gas plc |
Asia Energy Corporation (Bangladesh) Pty Ltd |
Asia Energy Corporation Pty Ltd |
GCM Resources Plc (formerly Asia Energy Plc) |
BDI Mining Corp (Formerly BM Diamondcorp Inc) |
Saginel Holding Pty Ltd |
Zimbabwean Investments Ltd |
Lonrho Springs Limited |
David Lenigas was a director of: SA Independent Liner Services Pty Ltd ("SAILS") when it was placed into liquidation on 15 October 2008 - it was a subsidiary within the Lonrho Plc group of companies ("Lonrho Group") and was placed into liquidation by a unanimous board resolution of SAILS, the Lonrho Group currently being the major creditor, with this business being shown as a discontinued activity in the historic financial statements of the Lonrho Group
David Lenigas is a director of Norse Air Limited which was placed into liquidation on 20 December 2010 - at the point of liquidation it was a wholly owned subsidiary within Lonrho Group and was placed into liquidation by a unanimous board resolution of Norse Air Limited, with this business being shown as a discontinued activity in the historic financial statements of Lonrho Group.
Donald Ian George Layman Strang
Current directorships
Leni Gas and Oil plc
Compania de Sedano Ltd.
Leni Trinidad Ltd.
Past directorships held within the last 5 years
Lonhro plc
Vatukoula Gold Mines plc
Vatukoula Gold Pty Ltd
Vatukoula Finance Pty Ltd
Vatukoula Australia Pty Ltd
Brinkley Mining plc
Western Uranium Pty Ltd.
Brinkley Mining Project 1 Ltd.
Brinkley Mining South Africa Pty Ltd.
Brinkley Africa Ltd.
No further information with respect to David Anthony Lenigas or Donald Ian George Layman Strang is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies.