Uvenco Uk Regulatory News (UVEN)

SnackTime plc

("SnackTime" or the "Company")

Subscription to raise £570,000

and

Directorate changes

SnackTime is pleased to announce that it has raised £570,000 through a subscription for 3.8 million new ordinary shares of 2p each ("Subscription Shares") at 15p per Subscription Share, and the appointment of two new directors to the Board of the Company.

Subscription

SnackTime has raised £570,000 through a subscription by Versatel Co Limited ("Versatel") for 3.8 million Subscription Shares at 15p per Subscription Share. Versatel is a newly incorporated vehicle registered in the UK whose two directors are Boris Belotserkovsky and Oleg Chulkov. Mr Belotserkovsky currently holds 1,466,400 ordinary shares in SnackTime, representing 7.3 per cent. of its current issued share capital.

The net proceeds of the Subscription will be used for working capital purposes and to reduce indebtedness.

Application has been made for the Subscription Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective and dealings are expected to commence in the Subscription Shares on 10 June 2014.

Following Admission, Mr Belotserkovsky will be interested in 5,266,400 Shares, representing approximately 26.14 per cent. of the Company's enlarged issued share capital. The Subscription Shares shall, upon issue, rank pari passu with the Company's existing issued ordinary shares of 2 pence each ("Shares"). Following Admission, the Company's issued share capital will comprise 20,149,014 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. 

Directorate changes

SnackTime announces that upon Admission Boris Belotserkovsky and Gillian White will be appointed as non-executive Directors of the Company.

Boris Belotserkovsky who is both a Russian and US citizen is Chairman and sole owner of Uvenco (www.uvenco.ru), Russia's leading vending company. He also has material shareholdings in Oplata LLC and Transvend CJSC which are both involved in vending. Mr Belotserkovsky is a President of the Russian National Vending Association and a Managing Director and a member of the executive committee of the European Vending Association.

Gillian White is an executive board member of both the European Vending Association and the Automatic Vending Association and is a director of 24Vend Limited, a consultancy giving global advice to vending clients on technology and innovation, having previously spent 19 years with Mars Inc. running their confectionery vending business.

Jeremy Hamer, Executive Chairman of SnackTime, commented: -

"The addition of Boris and Gillian to our Board will allow SnackTime to benefit from a wealth of vending experience from across Europe. After a tough 5 years, new technologies are just beginning to revolutionise vending, improving both the retail experience and corporate profitability. Today's announcement underlines SnackTime's commitment to capitalise on these developments here in the UK."

Disclosure re Boris Berlotserkovsky

Boris Belotserkovsky (aged 59) is currently a director of Versatel and Gaba International Inc and was formerly, in the last 5 years, a director of Uvenco Holdings Limited and Unicum Investment AG. 

Mr Belotserkovsky has confirmed that there are no other details regarding his appointment that require disclosure under Schedule 2(g) of the AIM Rules for Companies.

Disclosure re Gillian White

Gillian Lesley White (aged 52) is currently a director of the following companies: -

24Vend Limited

AVA limited

Bitbox Limited

Coeliac UK limited

EVA aisbl

Ms White has confirmed that there are no other details regarding her appointment that require disclosure under Schedule 2(g) of the AIM Rules for Companies.

For further information:-

SnackTime PLC 020 8879 8300

Jeremy Hamer, Chairman

Tim James, CFO

Westhouse Securities Limited 020 7601 6100

Tom Griffiths

Richard Johnson