Schedule 1 - Sterling Green Group Plc (2506D)
14 Maio 2012 - 3:30AM
UK Regulatory
TIDMSGG
RNS Number : 2506D
AIM
14 May 2012
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
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COMPANY NAME:
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STERLING GREEN GROUP PLC TO BE RENAMED FASTNET OIL & GAS PLC
(THE "COMPANY")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
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REGISTERED OFFICE AND TRADING ADDRESS
Number 14, The Embankment
Vale Road
Heaton Mersey
Stockport,
Cheshire SK4 3GN
United Kingdom
TRADING ADDRESS
18 Fitzwilliam Place,
Dublin 2,
Ireland
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COUNTRY OF INCORPORATION:
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England and Wales
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
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http://sterlinggreen.co.uk/sgg/ to become www.fastnetoilandgas.com
following admission
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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The Company has, since 1 December 2011, been classified as
an investing company under Rule 15 of the AIM Rules for Companies
("AIM Rules"). On 14 May 2012 the Company entered into a conditional
agreement to acquire the entire issued share capital of Terra
Energy Limited ("Terra") for an aggregate consideration to
be satisfied by the issue of 64,129,611 consideration shares
and the payment of EUR40,000. The acquisition constitutes a
reverse takeover under Rule 14 of the AIM Rules. The Company
is also proposing to raise GBP10.0 million (before expenses)
through a conditional placing of 90,909,091 new ordinary shares
(following the share consolidation) to provide further working
capital for the enlarged group.
Terra was incorporated in February 2008 and was established
to explore and develop unconventional oil and gas resources
in Europe and North Africa. Terra has since focused on oil
and gas prospects in the Celtic Sea. In addition, Terra plans
to avail itself of new potential opportunities in North and
East Africa where certain of the proposed directors have significant
knowledge, contacts.
On Admission, Terra's assets will include an interest in a
net profit bonus arrangement relating to the Connemara prospects
offshore Ireland ("NPB Agreement") and 13 coal licenses based
in the Connaught Coal Field, onshore Ireland. Terra has also
made applications to the Petroleum Affairs Division of the
Department of Communications, Energy and Natural Resources
of Ireland for three offshore licensing options in the Celtic
Sea and an onshore licence in the Dublin Basin.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
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163,030,160 ordinary shares of 3.8p each ("Ordinary Shares")
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
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Placing of 90,909,091 Ordinary Shares at 11p per Ordinary Share
to raise GBP10.0 million
Approximate market capitalisation of GBP17.93 million on Admission
at the placing price
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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25.85%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
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The Enterprise Securities Market, a market regulated by the
Irish Stock Exchange
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
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Cathal Martin Friel Non-Executive Chairman
George Henry Stephen Staley CEO
Michael Henry Nolan Non-Executive Director
John Michael Edelson Non-Executive Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
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Currently On Admission
---------------------------------- ----------------------------------
Number of Percentage of Number of Percentage of
Ordinary Shares issued share Ordinary Shares issued share
Name held capital held capital
---------------- ---------------- ---------------- ----------------
Cathal Friel (1) 0 0 18,888,051 11.59%
Henderson Global
Investors
Limited 0 0 8,181,818 5.02%
CQS Asset
Management
Limited 0 0 7,500,000 4.60%
Davycrest
Nominees 0 0 7,136,363 4.38%
Mandatum Life
Insurance
Company Limited 0 0 6,954,545 4.27%
Standard Life
Investments
Limited 0 0 6,818,182 4.18%
BlackRock
Investment
Management (UK)
Limited 0 0 5,000,000 3.07%
Michael
Edelson(2) 35,050,390 11.54 922,384 0.57%
Selwyn Lewis 29,687,500 9.78 781,250 0.48%
Rock Nominees
Limited 29,687,500 9.78 781,250 0.48%
BK Charitable
Trust 15,500,000 5.10 407,894 0.25%
Pentagon Dollar
Satellite Fund
Limited 15,000,000 4.94 394,736 0.24%
HSBC Global
Custody
Nominees 15,000,000 4.94 394,736 0.24%
Ian Aspinall(3) 12,250,000 4.03 322,368 0.20%
Jonathan Lyons 12,000,000 3.95 315,789 0.19%
JIM Nominees
Limited 10,308,960 3.39 271,288 0.17%
Notes:
1. Cathal Friel's interest in new ordinary shares in the Company
will include 15,554,857 new ordinary shares held by Raglan
Road Capital Limited, a Company in which Cathal Friel and his
wife, Pamela Iyer, have a 90 per cent. interest.
2. Michael Edelson's interest in existing ordinary shares in
the Company include 1,000,000 shares held by his wife, JB Edelson,
1,750,000 shares held by Novabank Capital Limited and 3,800,390
shares held by London and City Credit Corporation Limited.
In addition, Michael Edelson holds 1,000,000 existing ordinary
shares non-beneficially as a trustee of The Morris Edelson
Settlement.
3. Ian Aspinall has non-beneficial interests in existing ordinary
shares in the Company, being 8,250,000 shares held non-beneficially
as a trustee of The Blueberry Charitable Trust and 4,000,000
shares held non-beneficially by his wife, J M Aspinall, as
a trustee of The Cheshire Children's Charitable Trust.
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
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N/A
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 March;
(ii) 31 March 2012; and
(iii) As follows:
a. 6 months ended 30 September 2012 by 31 December 2012;
b. Year ending 31 March 2013 by 30 September 2013; and
c. 6 months ended 30 September 2013 by 31 December 2013;
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EXPECTED ADMISSION DATE:
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11 June 2012
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Shore Capital and Corporate Limited
Bond Street House
14 Clifford Street
London W1S 4JU
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NAME AND ADDRESS OF BROKER:
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Shore Capital Stockbrokers Limited
Bond Street House
14 Clifford Street
London W1S 4JU
J & E Davy,
Davy House,
49 Dawson Street,
Dublin 2,
Ireland
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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Copies of the admission document will be available to the public,
free of charge, at the registered office of the Company at
Number 14 The Embankment, Vale Road, Heaton Mersey, Stockport
SK4 3GN, telephone 0161 975 0434 during normal business hours
on any weekday (Saturdays and public holidays excepted) for
a period of one month from the date of Admission. This document
is also available free of charge for such period on the Company's
website at http://sterlinggreen.co.uk/sgg/
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DATE OF NOTIFICATION:
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14 May 2012
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NEW/ UPDATE:
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NEW
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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