CHA Concha

TIDMCHA

RNS Number : 6875B

Concha plc

05 April 2013

05 April 2013

Concha plc

("Concha" or the "Company")

Result of General Meeting

Completion of Share Consolidation, Placing and Moshen Acquisition

Concha is pleased to report that at the General Meeting held earlier today all of the resolutions were passed.

As a result, the Existing Ordinary Shares of GBP0.0001 each have been cancelled and replaced with 310,828,409 new Consolidated Ordinary Shares of GBP0.001 each, with each Shareholder receiving 1 new Consolidated Ordinary Share in replacement of every 10 Existing Ordinary Shares held.

In connection with the Placing, a total of 184,428,571 Placing Shares have been issued and allotted, raising gross proceeds of GBP645,500. The Placing proceeds will be used to complete the acquisition of Moshen and for general working capital purposes. Completion is expected to take place next week, upon which a further announcement will be made.

Application for admission of the Consolidated Ordinary Shares and the Placing Shares to trading on AIM has been made and is expected to become effective on 8 April 2013. However, as previously stated, trading in Concha's shares will remain suspended pending implementation of its Investing Policy in accordance with the AIM Rules.

It is anticipated that certificates for the new Consolidated Ordinary Shares will be issued and dispatched, at the shareholder's risk, by 15 April 2013 and that CREST holders will have their CREST accounts credited with their new holdings on 8 April 2013. The new Consolidated Ordinary Shares will carry the rights and be subject to the same restrictions as the Existing Ordinary Shares as set out in the Articles.

Warrants have today been granted to Chris Akers, Marcus Yeoman and Strand Hanson Limited over 49,525,698, 9,905,140 and 4,952,570 Consolidated Ordinary Shares respectively. These warrants are all exercisable at 0.35p per share until 6 April 2018.

"The Board of Concha is very pleased with its acquisition of a 40 per cent. interest in Moshen. Moshen has developed a strong existing client base and future pipeline and as a result expects significant revenue growth over the coming months and years. We hope this will be the first of a number of investments and look forward to updating the market on future investments in due course."

Enquiries:

 
 Concha plc 
  Chris Akers                                   07767 775 888 
 Strand Hanson Limited (Nominated Adviser 
  and Joint Broker) 
  James Harris 
  Andrew Emmott                                 020 7409 3494 
 PeterHouse Corporate Finance (Joint Broker) 
  Jon Levinson 
  Lucy Williams                                 020 7926 0935 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROMKELBBXZFXBBE

Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024