Business
Completion of Proposals
Completion of Proposals.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9519U CEB Resources PLC 09 December 2013 \n\n9 December 2013 \nCEB Resources plc \n(\"CEB\" or \"the Company\") \nCompletion of Proposals \nFurther to its announcement on 22 November 2013, CEB Resources plc (AIM: CEB) is pleased to announce that each of the proposals set out within the Circular to shareholders dated 30 October 2013 has come into effect today, including, inter-alia;\n \n· completion of the Placing of 10,839,750 new ordinary shares at £0.02 per share to raise £216,795 before expenses; \n· the proposed board changes;\n· new investing policy; and\n· the appointment of Peterhouse Corporate Finance as Joint Broker to the Company\n \nNew Chairman Cameron Pearce commented: \"This is an exciting time for CEB and we look forward to implementing our new investment policy for the benefit of our shareholders\".\n \n \nFull Details\n \nCompletion of Placing\n \nIn connection with the Placing, application has been made for i) the 10,839,750 new Ordinary Shares issued to Placees; and ii) the 1,750,000 new Ordinary Shares issued in aggregate to Peterhouse and N+1 Singer to be admitted to trading on AIM (\"Admission\"). Admission will occur at 8.00 am today. Following Admission, the total number of voting rights in the Company will be 146,289,750 ordinary shares. This number 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 to their interest in, the Company under the FCA's Disclosure and Transparency Rules.\n \nThe Company has also issued to placees under the Placing 10,839,750 warrants to subscribe for Ordinary Shares at £0.02 per share, which are exercisable for 60 months from the date of Admission.\n \nBoard changes\n \nImmediately following completion of the Placing, Eitan Milgram, Yossi Raucher and Tim Walker will resign from the Board. Simultaneously, Cameron Pearce will be appointed to the Board as Non-executive Chairman and Jeremy King will join the Board as Non-executive Director.\nCameron Pearce, B.Com, CA (Non-executive Chairman - aged 41) \nMr Pearce has extensive professional experience in both the Australian and United Kingdom finance industries. ...