Business
Placing
Placing.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n \nRNS Number : 2023K Mountfield Group plc 26 July 2013 \n \n\nMountfield Group Plc \n \n(\"Mountfield or \"the Company\") \n \nPlacing to Raise £450,000 to fund contract wins and postponement of redemption of loan notes.\n \n \nMountfield, which specialises in the fitting-out of Data Centres is pleased to announce that it has placed 45,000,000 new ordinary shares of 0.1p each (\"Shares\") representing approximately 17.71% of the Group's enlarged issued share capital (\"the Placing\").\n \nThe Placing has been undertaken to provide the Group with additional working capital to help it to finance its increasingly strong order book.\nThe new Shares have been placed with institutional and private investors (including a number of EIS investors) at a price of 1p per share to provide gross proceeds of £450,000 and the issue of them is conditional, inter alia, on approval being granted by shareholders at the Annual General Meeting on 29 July 2013 of a resolution granting the Directors authority to issue new Shares.\nThe new Shares will, when issued and fully paid, rank pari passu in all respects with the Company's existing Shares. Application will be made for the 45,000,000 new Shares to be admitted to trading on AIM and admission is expected to become effective on or around the 1 August 2013. \nFollowing admission of the new Shares, the Company will have 254,244,454 Shares in issue. The Company has no Shares in treasury. Therefore the figure of 254,244,454 should 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\nAt the time of the admission of the shares in the Company to AIM in October 2008 Graham Read and Andrew Collins (\"Vendors\") were issued with a total of £5,500,000 in interest bearing loan notes that were due to have been redeemed in October 2011. In June 2011 the date for the redemption of the outstanding loan notes was postponed to June 2016 and the Vendors have now agreed with the Company that the redemption of outstanding loan notes will be deferred to June 2020 and that in the meantime the holders will continue to waive payment of the interest that would otherwise have been payable...