24 Oct 2016 14:47
Highway Capital Plc
Grant of Option
24 October 2016
Highway Capital Plc ("Highway" or "Company") announces the grant of an option to Daniel Mark Harrison & Co Pte. Ltd. ("DMH") to subscribe for 3,500,000 new ordinary shares of 2p each in the Company ("Ordinary Shares") at a price of 35p per share.
The option is being granted as consideration for DMH providing its services to raise funds for Highway to execute one or more investments and seek resumption of trading of its Ordinary Shares on the Official List. The option granted to DMH is exercisable at any time until 20 December 2021 but only on the condition that the price per Ordinary Share, prior to any capital reorganisation, has reached 150p prior to the date of exercise.
The Company is continuing to investigate routes to return to trading on the Official List and will update shareholders in due course.
Highway Capital (HWC)