Gledhow Investments plc: Placing to Raise £850,000 and Change of Company Secretary

GLEDHOW INVESTMENTS PLC

("Gledhow" or the "Company")

 

Placing to Raise £850,000

Change of Company Secretary

 

 

      4 June 2021

Highlights

 

• The recent publication of Gledhow's Interim Results to 31 March 2021 has further highlighted the continuing, exceptionally strong, recent financial performance of the Company;
• The Company's £1.3 million pre-tax profits for this 6-month period, is approximately 20% more than the Company's current market capitalisation;
• With this background of outstanding financial performance and resilience, Gledhow is understandably experiencing an increase in the quantity, quality and size of investment opportunities; and
• To provide additional investment firepower and reflective of growing investor interest in the Company, Gledhow has raised £850,000 through a placing of new shares at a price of £0.0175 per share (the "Placing").

 

Details

 

The Company is pleased to announce that it has raised gross proceeds of £850,000 through the placing of 48,571,428 Ordinary Shares of £0.01 each, at a price of £0.0175 per share (the "Placing Price"). The Placing Price represents a discount of approximately 12.5% to the closing bid price of the Company's shares on 3 June 2021. The placees will also receive one Subscriber Warrant for every two Ordinary Shares subscribed for, with an exercise price of £0.03 per share. The issuance of the Subscriber Warrants is subject to a General Meeting to increase the Company's headroom, to enable Placees to exercise the warrants. Warrants can be exercised at any time following this General Meeting, for a period of 18 months.

Peterhouse Capital Limited acted as Corporate Broker for the Placing.

 

As noted above, the Company will use the proceeds of the Placing to accelerate the range and depth of investments into companies which it is believed have the prospect of high returns and capital growth.

 

The Company continues to build up positions in AIM, LSE and Aquis Exchange traded companies. Gledhow's strong balance sheet together with the Placing proceeds will allow the Company to significantly scale up its operations and take advantage of the market investment opportunities that are currently being presented to the Company. Gledhow sees opportunities to build up strategic positions in an array of companies that are being recapitalised at an early stage and that have strong management teams.

 

Application will be made for the 48,571,428 new Ordinary Shares to be admitted to trading on the AQSE Growth Market and it is expected that admission will occur on or around 10 June 2021.

 

Company Secretary

 

Geoffrey Melamet, Non-Executive Director, has been appointed as Company Secretary with immediate effect.

 

 

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

 

For further information please contact:

 

Gledhow Investments plc

 

Guy Miller:     +44 (0)  20 7220 9795   

 

 

Peterhouse Capital Limited (Corporate Stockbroker):

Lucy Williams: +44 (0) 20 7469 0930

Duncan Vasey: +44 (0) 20 7220 9797 (Direct)