Business
Share Placing, Issue of Equity and Loan Note
Share Placing, Issue of Equity and Loan Note.
About this update from Zinc Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 0791B Ten Alps PLC 28 March 2013 \n\n28 March 2013\n \nTen Alps Plc\n \nShare Placing, Issue of Equity and Loan Note\nTen Alps Plc (\"Ten Alps\" or the \"Company\"), the factual media group, is pleased to announce a placing of 24,125,000 new ordinary shares of 2 pence each in the capital of the Company (\"Ordinary Shares\") at a price of 2 pence per share (the \"Placing\").\nIn addition to the Placing, the Company's largest shareholder, Herald Investment Trust (\"Herald\") has agreed to provide £592,500 by way of debt funding (the \"Loan\"). The terms are similar to the existing loan note in issue except for £192,500 being unsecured.\nHerald has subscribed for 8,325,000 Ordinary Shares under the Placing and following this will hold 95,567,428 Ordinary Shares representing 34.54% of the Company's issued share capital. A further substantial shareholder, John Booth, has subscribed for 2,650,000 Ordinary Shares under the Placing and following this will hold, with the John Booth Charitable Fund (the \"John Booth Parties\"), 30,463,550 Ordinary Shares representing 11.01% of the Company's issued share capital. \nThe aggregate holding of the concert parties, being Herald, together with Herald Venture Limited Partnership, Herald Venture Limited Partnership II, Herald Venture Limited Partnership III and the John Booth Parties will equal 45.55% of the Company's issued share capital.\n5,750,000 of the New Ordinary Shares were taken up by Directors of the Company, details of which are as follows:\n\n\n\n\nDirector\n\n\nNo. of New Ordinary Shares\n\n\nNo. of New Ordinary Shares held following the Placing\n\n\n% of issued share capital held following the placing\n\n\n\n\nPeter Bertram, Chairman\n\n\n500,000\n\n\n2,812,500\n\n\n1.02%\n\n\n\n\nNitil Patel, Group Finance Director\n\n\n500,000\n\n\n1,430,500\n\n\n0.52%\n\n\n\n\nTim Hoare, Non-Executive Director\n\n\n1,000,000\n\n\n9,161,000\n\n\n3.31%\n\n\n\n\nBob Geldof, Non-Executive Director\n\n\n3,750,000\n\n\n15,124,728\n\n\n5.47%\n\n\n\n\nThe gross proceeds of the Placing and the Loan amount to £1m before expenses. The funds raised will be used by the Company to provide additional working capital and to finance investment strategies of the Company's existing operations.\nThe issue of new Ordinary Shares to the Directors and the Loan detailed above are related...