Primorus Investments - Placing and Notice of General Meeting
RNS Number : 4120Y
Primorus Investments PLC
03 March 2017
 

Primorus Investments plc

("Primorus" or the "Company")

Placing and Notice of General Meeting

Placing

Primorus Investments plc (AIM: PRIM, ISDX: PRIM) announces that it has today raised £237,000 by way of a placing (the "Placing") of 158 million new ordinary shares of 0.01 pence each (the "Placing Shares") at 0.15 pence per share. 

The Placing Shares have been placed subject only to admission to trading on AIM ("Admission"). Application has been made for Admission and it is expected that dealings in the Placing Shares will commence at 8.00 a.m. on 9 March 2017.  

The Placing Shares will represent approximately 12.36% of the Company's enlarged issued share capital and the total number of shares in issue following completion of the Placing will be 1,268,548,934. The funds raised from the Placing will allow the Company to pursue further investment opportunities in accordance with its investing policy.

Notice of General Meeting

The Placing will utilise nearly all of the Directors' current authorities to issue new ordinary shares free of pre-emption rights and accordingly they are seeking shareholders' authority to issue up to a further 3,000,0000,000 shares in order to facilitate a further placing as well as providing additional headroom for the future issue of further new ordinary shares.  If such authority were to be granted, the 3,000,000,000 shares would represent 236% of the enlarged issued share capital following the Placing.  The Directors wish to undertake a further placing and, while there can be no certainty that such a placing will succeed, believe that investor interest exists for a placing of up to £4,000,000, with the proceeds being to allow the Company to pursue further investment opportunities in accordance with its investing policy.

The Company is today posting to shareholders a notice of General Meeting seeking shareholder approval for granting the Directors of the Company authority to allot Ordinary Shares and disapply statutory pre-emption rights.

The General Meeting will be held at 11.00 a.m. on 20 March 2017 at 8th Floor, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW.  Once posted, the notice of General Meeting will also be made available to view on the Company's website at www.primorusinvestments.com.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Primorus Investments plc:         

+44 (0) 20 7440 0640

Alastair Clayton

 

 

 

Nominated Adviser and NEX Exchange Corporate Adviser:

+44 (0) 20 7213 0880

Cairn Financial Advisers LLP

 

James Caithie / Sandy Jamieson

 

 

 

Broker:

+44 (0) 20 3137 1902

Optiva Securities Limited

 

Christian Dennis / Jeremy King

 

 


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