Property Acquisition and Share Issues
The directors of
An exchange of contracts has been agreed for a cash consideration of £1,080,000 (£900,000 + VAT). The exchange deposit of £150,000 was transferred on Wednesday 22nd
Completion is only conditional on the payment of the consideration.
WARS is 100% owned by
The initial deposit of £150,000 has been paid by LCP. LCP intend to raise the balance less the cash they have available via the issue of more of their bonds which are listed on the
Two companies that have worked closely with Lombard,
The site is a total of 3.06 acres with approximately 7000 sq ft offices & 44,000 sq ft of warehousing. Within the footprint are additional storage areas and open plan concreted areas with 2 weigh bridges while offering excellent transport links to the M6, M60 & M62 corridors.
The site, which was previously operated as a waste and recycling centre, was mismanaged and has had its license suspended.
The site has been purchased as an investment and it is envisaged that WARS will apply to have the Environmental license reinstated. The intrinsic value of the site with the applied amendments and an operational permit would, the directors believe, increase the value of the site dramatically.
WARS is actively pursuing further acquisitions to promote the programme, initially to include a
In the coming days,
Lombard previously announced that LCP listed a debt programme for up to £50m 4% Bonds 2022 on the Vienna Stock Exchange MTF (third market). To date a total of £2,497,000 of bonds have been issued for net proceeds, after discounts, of £2,099,370.
The directors of Lombard now announce that they have received notice that holders of bonds totalling £507,000 wish for their bonds to be repaid and the funds immediately used to acquire Ordinary Shares in the Company at a price of 25p per share. As a result, the board have resolved to issue 2,028,000 Ordinary shares of £0.001 each.
The directors of Lombard now announce that holders of 3,200,000 warrants have given notice to exercise the warrants into 3,200,000 Ordinary Shares at the rate of 10p per share, for a total consideration of £320,000. As a result, the board have resolved to issue 3,200,000 Ordinary Shares of £0.001 each. A total of 10,985,000 warrants, convertible into 10,985,000 Ordinary Shares, with an exercise price of 10p per share remain outstanding.
As a result of the above transactions, a total of 5,228,000 Ordinary Shares of £0.001 each are being issued.
As a result of these allotments the Company now has 14,809,784 Ordinary Shares in of £0.001 each issue.
The above figure of 14,809,784 should be used by shareholders in the Company 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
As a result of these issues the following substantial shareholdings exist: -
Shareholder Shares issued Total Shareholding Shareholding (percentage) (number) (number) Richard Murray 2,000,000 4,437,558 29.96% John Reilly 1,000,000 2,218,779 14.98% Ross Maxwell 1,432,000 1,432,000 9.67% Robert Lyndsay 596,000 596,000 4.02% Peter Harding 200,000 443,756 3.00%
The directors of Lombard accept responsibility for this announcement.
For further information please contact:
Tel: 07718 883813
AQSE Growth Market Corporate Adviser
Nick Michaels: 0203 772 0021