Business
£250,000 Fundraise and Update on Acquisition
£250,000 Fundraise and Update on Acquisition.
About this update from Vaultz Capital Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\nHelium Ventures plc\n(“Helium Ventures” or the “Company”)\n \n£250,000 Fundraise\nUpdate on Acquisition\nDirector Dealings & Related Party Transaction\n \nHelium Ventures plc (AQSE:HEV) announces an issue of equity to raise £250,000 (the “Placing”) and an update on the proposed acquisition of Vestigo Technologies Ltd (“Trackimo”).\nFundraise\nThe Company has raised net proceeds of £250,000 through the issue of 6,250,000 new ordinary shares of 1 pence each at price of 4 pence per share (“Placing Shares”) and has issued an additional 812,500 new ordinary shares of 1 pence each at price of 4 pence per share (“Fee Shares”) in relation to the Placing and broking fee retainer. The funds will be utilised for ongoing working capital associated with the proposed Trackimo transaction.\nDirector Participation in the Placing \nCharlie Wood and Neil Ritson, both directors of the Company, have subscribed for, in aggregate, 1,750,000 new ordinary shares in the Placing. The beneficial holdings of the Directors before and after the fundraise are set out below:\n\n\n\n\n\n\n\n\n\nDirector\n\n\n\n\n\n\n\n\n\n\nCurrent shareholding\n\n\n\n\n\n\n\n\n\n\nPlacing Shares\n\n\n\n\n\n\n\n\n\n\nResultant shareholding\n\n\n\n\n\n\n\n\n\n\nResultant % shareholding on Admission\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNeil Ritson\n\n\n\n\n\n\n\n\n\n\n1,050,000\n\n\n\n\n\n\n\n\n\n\n500,000\n\n\n\n\n\n\n\n\n\n\n1,550,000\n\n\n\n\n\n\n\n\n\n\n6.5%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCharlie Wood*\n\n\n\n\n\n\n\n\n\n\n1,600,000\n\n\n\n\n\n\n\n\n\n\n1,250,000\n\n\n\n\n\n\n\n\n\n\n2,850,000\n\n\n\n\n\n\n\n\n\n\n11.9%\n\n\n\n\n\n\n\n\n*1,250,000 of Mr Wood’s Placing Shares are subscribed via Orana Corporate LLP of which he is a Partner and 33.3% shareholder\nRelated Party Transaction\nThe participation of Neil Ritson and Charlie Wood, through Orana Corporate LLP (a company of which Mr Wood is a Partner and 33.3% shareholder), in the Placing as Directors of the Company constitute related party transactions pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook (the “Transactions”). Fungai Ndoro, being the director of the Company independent of the Transactions, confirms that, having exercised reasonable care, skill and diligence, the related party transactions are fair and reasonable insofar as the shareholders of Helium Ventures are concern...