CINP Cinpart

 

TIDMCINP 
 
RNS Number : 5204E 
Cinpart PLC 
22 December 2009 
 
 
 
Embargoed Until 7.00am 
22 December 2009 
 
 
CINPART PLC 
('Cinpart' or the 'Company') 
 
 
Placing at 12.5 pence per share to raise GBP1,050,000 and Trading Update 
 
 
Issue of Equity 
 
 
The Company announces that it has raised GBP1,050,000 before expenses from a 
placing of 8,400,000 
 ordinary shares (the "Placing Shares") at 12.5 pence 
per share in the capital of the Company (the "Placing"). 
 
 
The net proceeds of the Placing, amounting to approximately GBP1,010,000, will 
be used by the Company to 
 fund the establishment of subsidiaries in various 
international markets including Australia, Thailand and 
Southern Europe. 
These new companies will, in their designated jurisdictions, market, sell and 
install VoltageMaster products which are to be produced in the Group's Thailand 
manufacturing facility. The 
United Kingdom market will continue to be 
supplied from SDC Industries Limited's factory in Scotland. Mr Stephen Coomes, 
the owner of SDC Industries Limited is the 27.8 per cent. minority shareholder 
in Active Energy. 
 
 
Christopher Foster, executive director of the Company, is subscribing in the 
Placing for 2,000,000 ordinary shares and his participation constitutes a 
related party transaction under the AIM Rules. 
 
 
The Directors, other than Christopher Foster, consider, having consulted with 
the Company's nominated adviser, that his subscription in the Placing is fair 
and reasonable insofar as the Company's shareholders are concerned. 
 
 
Application has been made for the Placing Shares to be admitted to trading on 
AIM. Admission of the Placing Shares is expected to become effective and 
dealings are expected to commence in these Shares on AIM on 29 December 2009. 
Following the issue of these shares, the Company will have 86,994,398 
ordinary 
shares in issue and Christopher Foster will hold 7,525,071 ordinary shares, 
equivalent to 8.65 per cent. of the then issued share capital of the Company. 
 
 
Trading Update 
 
 
The Company also announces that Active Energy is in preliminary discussions with 
a UK focused blue chip energy supplier regarding a strategic partnership 
relating to the development of new markets for the VoltageMaster product. To the 
extent that these discussions are successful a further announcement will be made 
by the Company. 
 
 
-ENDS- 
 
 
 
 
 
 
Enquiries: 
 
 
+--------------------------------------+--------------------------------------+ 
| Cinpart Plc                          |                                      | 
+--------------------------------------+--------------------------------------+ 
| Kevin Baker, Chief Executive         |                  Tel: 020 3176 3033  | 
| Christopher Foster, Executive        |                   Tel: 020 3176 3031 | 
| Director                             |                                      | 
|                                      |                                      | 
+--------------------------------------+--------------------------------------+ 
| Merchant John East Securities Limited (Nominated Adviser)                   | 
+-----------------------------------------------------------------------------+ 
| John East/Simon Clements             |                   Tel: 020 7628 2200 | 
|                                      |                                      | 
+--------------------------------------+--------------------------------------+ 
| Mirabaud Securities LLP (Joint Broker)                                      | 
+-----------------------------------------------------------------------------+ 
| Rory Scott                           |                   Tel: 020 7878 3360 | 
|                                      |                                      | 
+--------------------------------------+--------------------------------------+ 
| Rivington Street Corporate Finance Limited (Joint Broker)                   | 
+-----------------------------------------------------------------------------+ 
| Dru Edmonstone                       |                   Tel: 020 7562 3389 | 
|                                      |                                      | 
+--------------------------------------+--------------------------------------+ 
| Hansard Group (Public Relations)     |                                      | 
+--------------------------------------+--------------------------------------+ 
| Kirsty Corcoran/Justine James        |                   Tel: 020 7245 1100 | 
|                                      |                                      | 
+--------------------------------------+--------------------------------------+ 
 
 
About Cinpart: 
Cinpart plc (AIM: CINP) is a holding company that owns 72.2 percent of Active 
Energy Limited. Active Energy manufactures and supplies the VoltageMaster, a 
device that can reduce electricity consumption in commercial buildings by up to 
20 percent. 
Other wholly owned subsidiaries in the Group include Derlite Co Limited; based 
in Thailand, this company is an international manufacturer of electrical and 
non-electrical components specializing in ignition systems for gas appliances 
and Gasignition Limited; a trading company supplying electrical components to 
small and medium-sized European gas appliance manufacturers. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEPUGPPPUPBGRG 
 

Cinpart (LSE:CINP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Cinpart (LSE:CINP)
Historical Stock Chart
From Jul 2023 to Jul 2024