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Pin to quick picksVertu Capital Regulatory News (VCBC)

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Vertu Capital Ltd - Issue of Equity

Mon, 26th Mar 2018 07:24

RNS Number : 8743I
Vertu Capital Limited
26 March 2018
 

26 March 2018

 

 

Vertu Capital Limited

("Vertu" or the "Company")

(LSE:VCBC)

 

Issue of Equity

 

Vertu Capital Limited announces it has issued 19,999,999 new ordinary shares ("New Shares") in the Company at a price of 1.025 pence per New Share, raising gross cash proceeds of £205,000 before expenses.

 

The New Shares will represent 16.7 per cent. of the Company's issued ordinary share capital immediately following Admission.

 

The New Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive dividends and other distributions declared following Admission.

 

The gross cash proceeds will be used to evaluate a range of transactions primarily in financial services, but including a range of other sectors, where the board have a considerable amount of experience.

 

The cash position of the Company as at the date of this announcement is £450,000 and on the expected date of Admission will be, approximately, £655,000.

 

An application has been made to the UK Listing Authority for the New Shares to be admitted to the standard listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities. It is expected that the New Shares will be admitted to trading, and dealings will commence, at 8.00 a.m. on 29 March 2018.

 

In accordance with the requirements of the FCA's Disclosure Guidance and Transparency Rules 5.6.1R, the Company confirms that, as of 29 March 2018, the Company's issued share capital consists of 119,999,999 ordinary shares of £0.01, each with equal voting rights.

 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").  Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information:

 

Vertu Capital Limited

Du Kiat Wai "William" - Chairman

www.vertucapital.co.uk

 

+603 5613 3388 

 

 

Optiva Securities (Financial Adviser)

Jeremy King

 

+44 (0) 20 3137 1904

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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