Armor Designs, Inc. Issue of Equity & Director's Dealing (2386D)
25 Abril 2013 - 8:29AM
UK Regulatory
TIDMADID TIDMADIS
RNS Number : 2386D
Armor Designs, Inc.
25 April 2013
Armor Designs, Inc.
("Armor Designs" or "the Company")
Issue of Equity and Director's Dealing
The Company is pleased to announce that it has raised
US$1,150,000.00, before expenses, through the subscription of
76,668 new common shares (the "Subscription") of US$0.001 each in
the Company (the "Subscription Shares") at a price of US$15 per
Subscription Share (the "Subscription Price").
One of the investors (the "Investors") is Robert Elizondo, a
non-executive director of the Company, who is investing US$150,000.
Following admission of the Subscription Shares to trading on AIM,
Robert Elizondo's total shareholding will be 350,000 or 1.29% of
the enlarged issued share capital.
As a condition of the Subscription, the Company has agreed with
the Investors that in the event the Company issues any shares in
the capital of the Company as part of a further fundraising at a
price less than the Subscription Price (the "Lower Price") prior to
16 March 2018, the Investors will have the option to subscribe at
par (being US$0.001 per share), for such number of additional
shares as they would have received had the subscription price per
share at Closing been at the Lower Price rather than the
Subscription Price. Furthermore, the Investors will have the option
to purchase an equal number of shares at a share price of US$0.01
per share prior to 16 March 2018.
The use of proceeds of the Subscription is non-discretionary and
restricted for short-term working capital needs, for sustaining
current operations and overhead costs.
Application has been made for the Subscription Shares, which
will rank pari passu in all respect with the existing ordinary
shares, to be admitted to trading on AIM, with dealings in the
Subscription Shares expected to commence at 8.00am on 1 May
2013.
Following completion of the Subscription, the Company's enlarged
issued share capital will comprise of 27,171,804 ordinary shares of
US$0.01 each, with one voting right per share. There are no shares
held in treasury. This figure is the number that may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interesting, or
a chance to their interest in, the Company under the FCA's
Disclosure Rules and Transparency Rules.
For further information:
Armor Designs, Inc.
James A. St. Ville, M.D., COB, CEO, President Tel: +1 (602) 275-4633
www.armordesigns.com
Daniel Stewart & Company, plc.
Paul Shackleton and James Felix Tel: +44 (0) 2077766550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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