24 Oct 2007 07:00
Reconstruction Capital II Ltd24 October 2007 Reconstruction Capital II Limited Proposed increase in authorised share capital The Board of Reconstruction Capital II Limited ('the Company') announces that itis convening an extraordinary general meeting of Shareholders to be held on the19 November 2007 in order to increase its authorised share capital from€1,000,000 to €3,000,000 by the creation of an additional 200,000,000 newordinary shares of €0.01 par value each. The majority of the funds raised at the time of the Company's admission to AIMand the subsequent placing in May 2006 have now been invested and the Directorsare satisfied that the Company has an interesting prospective deal flow whichwill shortly absorb the remaining cash balances and would require further fundsin order to exploit such further opportunities. The Directors wish to continue the current investment strategy and are thereforeconsidering a placing of new ordinary shares, subject to market conditions. A further announcement will be made in due course in respect of the proposedplacing. As detailed in the Company's AIM admission document dated 19 December 2005,whilst the Directors have authority to allot the authorised but unissued sharecapital of the Company on a non-pre-emptive basis, such authority shall only beexercised at a subscription price which is not less than the net asset value perordinary share. In the light of this, the Directors are proposing an increase in the authorisedshare capital of the Company large enough to cover the reasonable future capitalneeds of the Company, including the placing of new shares currently beingconsidered. Copies of the EGM notice will also be available, free of charge from the officesof New Europe Capital Limited, 33 Marloes Road, London W8 6LG, United Kingdom(tel: +44 (20) 7244 0088), for a period of 30 days from the date of thisannouncement. 24 October 2007 End For more information: Reconstruction Capital II LimitedIon FlorescuTel: +44 (0) 7767 477192 LCF Edmond de Rothschild Securities (Broker)Hiroshi Funaki / Claire HeathfieldTel: +44 20 7845 5960 Grant Thornton Corporate Finance (Nominated Adviser)Philip SecrettTel: +44 (0) 20 7383 5100 This information is provided by RNS The company news service from the London Stock Exchange