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26 May 2015 11:52
26 May 2015
SNACKTIME PLC ("SnackTime" or the "Company")
New equity subscription
Further to its announcement of 13 May 2015 (the "Announcement"), SnackTime is pleased to announce that the Company has raised £100,000 through the issue of 1,000,000 new ordinary shares of 2p each ("New Shares") at 10p per share ("Subscription"). The New Shares have been subscribed by certain Directors, as detailed below, and senior management, and the price represents a 33 per cent. premium to the Company's price on 12 May 2015, the last day prior to the date of the Announcement.
The gross proceeds of the Subscription will be used in full to reduce the outstanding balance on the Company's term loan reducing the outstanding amount to £1,920,000.
Director | New Shares subscribed | Resultant shareholding | % (of enlarged ISC) |
Jeremy Hamer | 200,000 | 280,000 | 0.84 |
Mark Stone | 100,000 | 100,000 | 0.30 |
Michael Jackson | 200,000 | 397,000 | 1.20 |
Gillian White* | 50,000 | 50,000 | 0.15 |
Boris Belotserkovsky* | 150,000 | 1,616,400 | 4.86 |
Sergei Kornienko* | 100,000 | 100,000 | 0.30 |
* members of the Belotserkovsky Concert Party, which will have a total interest of 17,566,400 Shares (52.99%) following Admission.
Application has been made for the admission to trading on AIM of the New Shares ("Admission"). Admission is expected to become effective and dealings are expected to commence in the New Shares on 27 May 2015. Upon issue, the New Shares will rank pari passu with the Company's existing issued shares.
Following Admission, the Company's issued share capital will comprise 33,149,014 Shares carrying voting rights. This figure may be used by shareholders 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 interests in, the Company under the FCA's Disclosure and Transparency Rules.
For further information:
SnackTime PLC
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Mark Stone, CEO |
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Tim James, CFO | 020 8879 8300 |
Westhouse Securities Limited
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Tom Griffiths Richard Johnson | 020 7601 6100 |
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