21 Oct 2014 07:00
PURECIRCLE LIMITED
("PureCircle" or the "Company")
PRIVATE PLACEMENT TO SUPPORT ACCELERATED GROWTH
PureCircle (LSE: PURE), the world's largest producer and marketer of high purity stevia, today announces the placing of 2.5 million new ordinary shares of the Company (the "Placing Shares") to existing shareholders (including directors and senior management) and new investors at a price of £5.50 each (the "Placing"), raising US$22 million for the Company. The proceeds together with the Company's cash and funding headroom will be used to expand current supply chain to support accelerated growth.
Details of the Placing
The Placing Shares will, when issued and duly paid, rank pari passu in all respects with the existing ordinary shares in the share capital of the Company.
The Placing will be completed upon receipt of funds, expected to be finalized on 10 November 2014. Upon completion of the Placing, total ordinary shares (which include treasury shares) will increase to 167,366,294. Correspondingly, the total number of voting rights will increase to 167,237,430: this figure should be used by shareholders as the denominator in the calculation of their interest in the Company.
Application will be made for admission of the Placing Shares for trading on AIM ("Admission") and Admission is expected to take place on or around 10 November 2014 following completion of the Placing.
Directors' participation and notifiable interest
Directors participating in the Placing are doing so on the same terms as all other participating investors. The details of these directors and their corresponding interests following Admission of the Placing Shares are as follows:-
Name | Number of Placing shares | Total interest held after Admission | |
Shares | Options | ||
Executive | |||
Mr M Malsagov | 11,3001 | 14,866,912 | 691,976 |
Mr W Mitchell | 12,000 | 922,890 | 533,859 |
Non-Executive | |||
Mr P Selway-Swift | 5,5002 | 207,800 | Nil |
Mr O Maes | 7,200 | 418,510 | 4,110 |
Mr P Lai | 5,500 | 200,100 | 4,360 |
Mr C Pratt | 5,5003 | 692,416 | 3,280 |
1 indirectly through his spouse
2 indirectly via HSBC Trustee (Jersey) Ltd
3 indirectly via The CDP 2014 Trust
In addition, following the completion of the Placing, the amended significant shareholdings and notifiable interest of in the Company will comprise:-
Name | Number of Shares | % Shareholding |
Wang Tak Company Limited* | 39,900,600 | 23.9% |
Olam International Limited | 30,544,609 | 18.3% |
Magomet Malsagov | 14,866,912 | 8.9% |
Halfmoon Bay Capital Limited | 13,268,724 | 7.9% |
Asian Investment Management Services Ltd. and related parties | 9,559,314 | 5.7% |
Swire Beverages Holdings Ltd. | 5,800,000 | 3.5% |
*including Mr. Tan Boon Seng and spouse
21 October 2014
Enquiries:
PureCircle Limited (www.purecircle.com) Magomet Malsagov - CEO William Mitchell - CFO |
+60 1 2388 8049 +44 7974 005163 |
| |
RFC Ambrian Limited (NOMAD) Stephen Allen | +61 8 9480 2500 |
NOTES TO EDITORS
PureCircle is the global leader in production and marketing of stevia ingredients. PureCircle leads the industry with development of a vertically integrated, sustainable and natural supply chain. Stevia is grown for PureCircle across South America, Africa, Asia and the United States where it provides a sustainable cash crop for farming communities. As part of the company's proprietary Stevia 3.0 TM portfolio, PureCircle has developed a broad range of ingredient solutions and has pioneered such ingredients as Reb A, SG95, and breakthrough ingredients such as PureCircle Alpha, Reb D, Reb M as well as PureCircle Flavors. PureCircle also established joint venture partnerships with sugar industry leaders to innovatively combine stevia and sugar for natural sweetening solutions and locally support customers. These global partnerships include Tereos PureCircle Solutions, with Tereos and NPSweet A/S with Nordzucker, in Europe. As part of its industry leadership, PureCircle pioneered the trust mark Stevia PureCircle®, which educates consumers about the benefits of stevia and provides a strong base of trust for both consumers and food and beverage companies alike. The company also founded The Global Stevia Institute, (www.globalsteviainstitute.com) the leading resource for accurate, science-based information on stevia led by a global advisory board of internationally recognized health professionals. PureCircle's global headquarters are in Kuala Lumpur, Malaysia. PureCircle is listed on the London Stock Exchange AiM market under the ticker symbol: PURE. For more information on PureCircle, visit: www.purecircle.com.