Business
Equity Placing
Equity Placing.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n RNS Number : 1205C Zest Group PLC 06 November 2009 \n \nZest Group Plc ('Zest Group or 'the Company')\n\nEquity Placing\n6 November 2009\n\n \nThe Company is pleased to announce that it has conditionally placed 300,000,000 new ordinary shares of 0.01p each at a price of 0.1 pence (\"Placing Shares\") with new and existing shareholders (\"the Placing\").\n\nThe Placing proceeds of £300,000 (before expenses) will provide the Company with working capital to service its activities.\n\nApplication for admission of the Placing Shares (\"Admission\") will be made and Admission is expected to occur on 26 November 2009. The Placing is conditional, on Admission becoming effective. The Placing is not being underwritten.\n\nThe Placing Shares will represent approximately 63.3 per cent. of the enlarged issued share capital of the Company immediately following Admission and each of the Placing Shares will be credited as fully paid and free from all liens, equities, charges, encumbrances and other interests and will, when issued, rank in full for all dividends and distributions thereafter declared, made or paid after Admission and otherwise rank pari passu in all respects with, and carry the same voting and dividend rights as, the existing Ordinary Shares. \n\nFollowing Admission the percentage interest of the Directors in the issued share capital of the Company will be diluted as follows: \n\n\n\n\n\nDirector\n\n\nNumber of Ordinary Shares prior to the Placing\n\n\n% of Existing Issued Share Capital\n\n\nNumber of Ordinary Shares following the Placing\n\n\n% of Enlarged Share Capital\n\n\n\n\nRichard Griffiths\n\n\n11,000,000\n\n\n6.34\n\n\n11,000,000\n\n\n2.32\n\n\n\n\nSteve Weltman\n\n\n666,668\n\n\n0.38\n\n\n666,668\n\n\n0.14\n\n\n\n\n\nFollowing Admission, the Company will have 473,619,050 Ordinary Shares in issue. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company on Admission will therefore be 473,619,050. \n\nThis figure may be used by shareholders as the denominator for the calcula...