Business
Proposed Placing
Proposed Placing.
About this update from Ceps Plc
[{"type":"text","content":"\n \nRNS Number : 8250S CEPS PLC 27 June 2018 \n\nCEPS PLC \n(\"CEPS\" OR THE \"COMPANY\")\n \nProposed Placing to raise £1,330,021 before costs\nDirectors' Dealings\nRelated Party Transactions\n \n \nProposed placing\nThe Company is pleased to announce that it is proposing to raise gross proceeds of £1,330,021 by way of a placing of 3,800,060 new ordinary shares of 10 pence each (\"Placing Shares\") to certain existing investors, at a price of 35 pence per share (\"Placing\"). All of the placees are Related Parties as defined in the AIM Rules for Companies (\"AIM Rules\").\n \nThe Placing will be conducted by way of an accelerated book-build process which will be launched immediately following this announcement. \n \nThe net proceeds of the Placing of £1,325,931 will be used to repay the third party loan of £1,000,000 plus gross interest of £24,931.51 that was entered into on 25 April 2017, as set out in the Company's announcement dated 3 May 2017 and also for general working capital purposes. \n \nDirectors' Dealings \nDavid Horner, a director of the Company, is proposing to participate in the Placing, as set out in the table below.\n \n\n\n\n\nDirector\n\n\nShares in which David Horner is interested prior to the Placing\n\n\nNumber of Placing Shares subscribed for\n\n\nValue of placing shares subscribed for\n\n\nShares in which David Horner is interested following the Placing\n\n\n% of Enlarged Share Capital\n\n\n\n\nDavid Horner\n\n\n3,950,000\n\n\n881,310\n\n\n£308,458.50\n\n\n4,831,310\n\n\n28.42%\n\n\n\n\n \nIn addition, certain substantial shareholders (as defined in the AIM Rules) are proposing to subscribe for Placing Shares, as set out in the table below.\n \n\n\n\n\nSubstantial Shareholder\n\n\nShareholding prior to the Placing\n\n\nNumber of Placing Shares subscribed for\n\n\nValue of placing shares subscribed for\n\n\nShareholding following the Placing\n\n\n% of Enlarged Share Capital\n\n\n\n\nMark Thistlethwayte*\n\n\n2,270,000\n\n\n730,000\n\n\n£255,500.00\n\n\n3,000,000\n\n\n17.65%\n\n\n\n\nChelverton Growth Trust plc\n\n\n2,871,250\n\n\n2,188,750\n\n\n£766,062.50\n\n\n5,060,000\n\n\n29.76%\n\n\n\n\n* Mark Thistlethwayte's existing shareholding is held through Charles Stanley & Co Ltd Rock (Nominees) Ltd. The additional shares subscribed for will...