Business
Placing to raise £550,000
Placing to raise £550,000.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n RNS Number : 3426E Brainspark PLC 18 December 2009 \n \n18 December 2009\n\n Brainspark plc\n(\"Brainspark\" or the \"Company\")\n\nPlacing to raise £550,000 (before expenses)\n\nand \n\nLoan Conversion\n\nBrainspark (AIM: BSP), the AIM-listed investment company, is pleased to announce that it has raised £550,000 (before expenses) through the placing of 110,000,000 new ordinary shares of 0.01 pence each in the Company (the \"Placing Shares\") at a price of 0.5 pence per share (the \"Placing\"). The Placing Shares have been placed with new investors and existing shareholders. The Placing Shares will represent approximately 22.6 per cent. of the enlarged issued share capital of the Company. \n\nThe net proceeds of the Placing will be put towards the implementation of the Company's investment strategy as set out in the circular sent to shareholders of the Company on 16 November 2009. In particular the funds raised pursuant to the Placing will be used by Brainspark to invest in Mediapolis Investments S.A. Further to the announcement released by the Company on 19 November 2009. Brainspark is investing €462,100 (£413,950) in Mediapolis Investments S.A. to acquire a 10.88 per cent. equity interest in the company. Mediapolis Investments controls Mediapolis SpA which is the owner of a site in northern Italy with plans for the development of a theme park. Brainspark currently holds 0.47 per cent. of the issued share capital of Mediapolis SpA.\n\nAs part of the Placing, Alfredo Villa, a Non-Executive Director of Brainspark, has subscribed for 25,000,000 Placing Shares at the Placing Price. Following completion of the Placing Alfredo Villa will hold a beneficial interest in 82,668,670 ordinary shares in the Company equivalent to 16.97 per cent. of the enlarged issued share capital of the Company. Furthermore, clients of RCF Customers, a portfolio management company of which Alfredo Villa is a discretionary fund manager, have subscribed for a total of 9,200,000 Placing Shares at the Placing Price. Following completion of the Placing, RCF Customers will have a beneficial interest in 40,150,000 ordinary shares in the Company representing 8.24 per cent. of the enlarged iss...