Bagir Group Ltd Result of EGM (2154N)
October 21 2016 - 11:00AM
UK Regulatory
TIDMBAGR
RNS Number : 2154N
Bagir Group Ltd
21 October 2016
21 October 2016
Bagir Group Ltd.
("Bagir" or the "Company")
Result of EGM
Directors' holdings and total voting rights
Result of EGM
On 15 September 2016 Bagir (AIM: BAGR), a designer, creator and
provider of innovative tailoring, announced that it has
conditionally raised gross proceeds of GBP6.4 million through a
placing and subscription of, in aggregate, 183,236,754 new ordinary
shares (the "New Ordinary Shares") at a price of 3.5 pence per new
ordinary share (the "Placing"). The placing was arranged by N+1
Singer.
The Company is pleased to announce that at the Extraordinary
General Meeting held earlier today all resolutions proposed were
duly passed and accordingly the Placing will complete upon
admission of the New Ordinary Shares to trading on AIM expected on
or around 25 October 2016.
Issue of equity
Application has been made to the London Stock Exchange for the
New Ordinary Shares together with the 20,551,247 ordinary shares to
be issued to Bank Leumi Le Israel B.M. and Discount Bank Ltd. (the
"Lenders") to be admitted to trading on the AIM market of the
London Stock Exchange. It is expected that admission will become
effective on or around 25 October 2016 ("Admission").
Further background on the issue of shares to the Lenders is set
out in the Company's announcement on 25 July 2016. Bank Leumi Le
Israel B.M. will receive 12,330,748 shares and Discount Bank Ltd
will receive 8,220,499 shares under the refinancing agreement.
Total voting rights
Following Admission the number of ordinary shares of 0.04 New
Israeli Shekels each in the capital of the Company in issue and
number of voting rights will be 254,216,661. The above figure may
be used by shareholders as the denominator for the calculations by
which they will determine whether they are required to notify their
interest in, or a change to their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
Directors' holdings
Immediately following Admission, the Directors will together
hold an aggregate of 1,185,508 shares, representing 0.46 per cent.
of the share capital as enlarged by the Placing and issue of shares
to the Lenders, as set out in the table below:
Number of shares Percentage of
post Admission enlarged share
capital post Admission
Tessa Laws*** 310,390 0.12%
Eran Itzhak 286,000 0.11%
Samuel Vlodinger 419,333 0.16%
Donald Stewart** 143,000 0.06%
Marc Zalcman* - -
Udi Cohen - -
Fiona Holmes 26,785 0.01%
* Marc Zalcman owns the entire issued share capital of Man
Capital Holdings Ltd. which owns 2.08% of the current issued share
capital of the Company. Man Capital Holdings Ltd. also owns 14 per
cent. of S.G. Textile Holdings Ltd.. S.G. Textile Holdings Ltd.
owns 1.14 per cent. of the issued share capital of the Company. The
remaining 86 per cent. of S.G. Textile Holdings Ltd is owned by
Siverboim Holdings Ltd., a company wholly owned by Zvika Barinboim.
Zvika Barinboim is also the sole owner of Barinboim Properties Ltd,
a substantial Shareholder of the Company. Man Capital Holdings Ltd.
is subscribing for 7,846,720 Subscription Shares as part of the
Placing.
** Donald Stewart's shares will be held through Ruscombe
Management Services Limited.
*** 286,000 of Tessa Laws' shares will be held through her SIPP,
the custodian of which is Hargreaves Lansdown (Nominees) Ltd.
For further information, please contact:
Bagir Group Ltd.
Tessa Laws, Non-Executive
Chairman
Eran Itzhak, Chief Executive
Officer
Udi Cohen, Chief Financial
Officer +972-8-687-3917
N+1 Singer
Alex Price
Sandy Ritchie +44 (0) 20 7496 3000
Novella +44 (0) 20 3151 7008
Tim Robertson
Toby Andrews
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 21, 2016 11:00 ET (15:00 GMT)
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