GLOBE CAPITAL LIMITED - New Issue of Shares and Warrants and Directorate Change PR Newswire

 29 January 2016

Globe Capital Limited

("GLOBE CAPITAL" or the "Company")

Placing of 95,714,285 New Shares to raise £100,500, Warrants Issue

and Directorate Change

Placing of New Shares

The Company is delighted to announce that it has raised £100,500 (before expenses) by way of a placing of 95,714,285 New Ordinary Shares at 0.00105 pence each, with its shareholders David Barnett, Toddbrook Investments Limited, Boxerdome Enterprise FZE and DHD Impex Pte Limited at a placing price of 0.00105 pence (“Placing Price”) per new Ordinary share of 0.001 pence each (the “Placing”).

In addition, the company has granted Alexander David new Ordinary Shares of 18,900,000 at 0.00105 pence each at the valuation of the company’s new shares being admitted to trading on ISDX Growth Market.

The proceeds of the placing will be used to further support the Company’s working capital requirements.

The 114,614,285 new Ordinary Shares will be admitted to trading on ISDX Growth Market today, 29 January 2016.

Following the Placing, the issued share capital of the Company will increase to 189,253,085 ordinary shares of 0.001 pence each. This figure may 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 to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

The following parties have an interest of more than 3% in the shares of the Company:


Shareholder Name              Number of Ordinary Shares Percentage Holding

DAVID BARNETT                                 5,742,857              3.30%

TODDBROOK INVESTMENTS LIMITED                 5,742,857              3.30%

LIAO CHUNLAN                                 17,270,275              9.13%

SZE THYE GROUP LIMITED                       38,199,750             20.18%

BOXERDOME ENTERPRISE FZE                     40.838,095             21.58%

DHD IMPEX PTE LTD                            43,390,476             22.93%



Warrants Issue

The Company has also issued warrants which, upon exercise, will equal the amount of shares, at an exercise price of £0.0025 for each of the New Ordinary Shares to David Barnett, Toddbrook Investments Limited, Boxerdome Enterprise FZE and DHD Impex Pte Limited.

As disclosed above David Barnett is the beneficial owner of 5,742,857 Ordinary Shares and Warrants owner of 5,742,857 Shares exercisable at £0.0025 per share.

Directorate Change

The Board of Directors wishes to announce that Wong Xinyan, the Company’s Chief Executive Officer, has stepped down from the role of Chief Executive Officer and the Board with immediate effect. The Company would like to thank Mr Wong for his time and contribution to the Company over his term. The Board has also appointed David Barnett as Director, with immediate effect.

David Barnett (age 65, Director)

David Barnett is a fashion consultant and a Director of Barnett Fashion Agency Limited. He has over 30 years’ experience within the menswear wholesale environment and represented several menswear brands.

David Barnett current and past (five years) directorships are as follows:


Current directorships          Past directorships (last five
                               years)                       

Barnett Fashion Agency Limited Pendleton & Cross Limited
                               Stingray Leather Goods UK Limited



Other than the above there are no further disclosures required under Rule 70 and paragraph 21 of Appendix 1 of the ISDX Growth Market Rules for Issuers.

The directors of Globe Capital Limited accept responsibility for this announcement.

For further information please contact:

Christopher Neo                                    Globe Capital Limited                            +44 (0)20 3286 6388

David Scott / James Dewhurst               Alexander David Securities Limited        +44 20 7448 9820