Business
Director Shareholding / Placi
Director Shareholding / Placi.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n RNS Number : 0747T Pinnacle Telecom Group PLC 22 September 2010 \n \n\n22 September 2010\nPinnacle Telecom Group plc \n(the \"Company\")\nPlacing to raise £450,000\nDirector Shareholdings\n \nPinnacle Telecom Group plc, (AIM: PINN) the AIM listed provider of integrated telecommunications solutions, is pleased to announce that it has successfully raised £450,000, before expenses, by way of a placing of 128,571,429 new ordinary shares of 0.1p each in the capital of the Company (\"new Ordinary Shares\") at 0.35p (\"Placing Price\") per new Ordinary Share (the \"Placing\"). The Placing was undertaken with three new investors, including two institutions, certain Directors of the Company and its subsidiary companies. \n \nHighlights\n· The Placing was completed at 0.35 pence per share\n· The gross proceeds of the Placing total £450,000\n· The Placing Price represents a premium of approximately 18.64% over the mid-market closing price of 0.295p on 21 September 2010\n· The proceeds will be used for general working capital purposes, and to strengthen the Company's balance sheet\n \nThe new Ordinary Shares will rank pari passu with other ordinary shares and application has been made for the new Ordinary Shares to be admitted to trading on AIM, which is expected to be on 28 September 2010. \n \nFollowing this issue, the Company has been informed of changes to the shareholdings of the directors, all of whom participated in the issue, as follows:\n \n\n\n\n\nDirector Name\n\n\nNumber of new Ordinary Shares acquired\n\n\nAggregate interests following completion of the Placing\n\n\nFollowing the Placing, Percentage of the enlarged Share Capital\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAlan J Bonner\n\n\n12,285,714\n\n\n187,076,971\n\n\n10.02%\n\n\n\n\nBill Allan\n\n\n5,714,286\n\n\n5,714,286\n\n\n0.31%\n\n\n\n\nJohn C Anderson\n\n\n1,428,571\n\n\n1,428,571\n\n\n0.08%\n\n\n\n\n \nThe Company has also been advised that Darron Giddens, a director of a subsidiary company, has acquired 12,000,000 new Ordinary Shares, increasing his holding to 190,273,709 ordinary shares, representing 10.19% of the Company's enlarged share capital.\n \nThe Company has also been advised that Garry Nelson, a director of a subsidiary c...