Black Sea Property - Completion of EUR4.58m Placing and Debt Conversion
RNS Number : 7824A
Black Sea Property PLC
24 January 2020
 

 

BLACK SEA PROPERTY PLC

("Black Sea Property" or the "Company")

 

Completion of €4.58m Placing and Debt Conversion

 

Further to the announcement made on 10 January 2020, Black Sea Property PLC, confirms that the placing and the simultaneous debt to equity conversion has now become effective. The overall amount raised before expenses is Eur 4,585,682, through a placement of 416,880,162 new ordinary shares of nil par value (the "Placing Shares") at a price of EUR 0.011 per Ordinary Share (the "Placing"). The final funds raised has been reduced by €200,000 from the amount announced on January 10th due to partial finalisation issues with one particular placee.

 

Following completion of the Placing and the simultaneous issue of 127,035,545 new ordinary shares at EUR 0.011 per share for the conversion of all of Mamferay Holdings Limited's outstanding loans (the "Loan Shares"), the Company is aware of the following disclosable interests in the share capital of the Company:

 

 

Name

Ordinary Shares    

Percentage interest in enlarged Equity issued share capital

 

 

 

Mamferay Holdings Limited

539,457,561              

29.75

Neo London Capital JLC   

515,126,806               

28.41

Compass Invest JSC

304,354,182

16.78

Capman Asset Management

92,000,000

5.07

 

 

Following the issue of the Placing Shares and the Loan Shares, the Company has 1,813,323,603 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. This figure should 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 Company under the FCA's Disclosure and Transparency Rules.

 

The Directors of the issuer accept responsibility for the contents of this announcement.

 

For further information, please visit www.blackseapropertyplc.com or contact the following:

 

 

BLACK SEA PROPERTY PLC

Alex Borrelli -  Chairman

 

+44(0) 774 702 0600

PETERHOUSE CAPITAL LIMITED

NEX Corporate Adviser

Heena Karani and Duncan Vasey

+44 (0) 207 469 0930

 

 


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