Hermes Pacific Investments PLC Issue of Equity (6431J)
July 18 2013 - 7:44AM
UK Regulatory
TIDMHPAC
RNS Number : 6431J
Hermes Pacific Investments PLC
18 July 2013
18 July 2013
HERMES PACIFIC INVESTMENTS PLC
(AIM: HPAC)
Issue of Equity
Hermes Pacific Investments plc ("HPAC" or the "Company")
announces that it has completed a share subscription raising
GBP4,160,000 through the issue of 416,000,000 new ordinary shares
of 0.5p each, at a placing price of 1p per new ordinary share ("New
Ordinary Shares").
Placing
The Company has raised GBP4,160,000 before expenses, through the
placing of 416,000,000 New Ordinary Shares. The New Ordinary Shares
have been placed with three existing shareholders and one new
investor. The New Ordinary Shares have been allotted by the Company
under authorities granted by shareholders at the last Annual
General Meeting of the Company held on 25 October 2012..
The New Ordinary Shares represent approximately 89 per cent. of
the Enlarged Share Capital. The Enlarged Share Capital comprises
50,658,844 Ordinary Shares.
The proceeds of the Placing will provide the Company with
general working capital to enable it to further implement its
investing policy.
Following the issue of the New Ordinary Shares, the Directors
have been informed of the following significant shareholders (as
defined in the AIM Rules) and their respective holdings in the
Company:
Name of Placee Number of Percentage Number of Percentage
Existing Ordinary of Existing Ordinary Shares of Enlarged
Shares Share Capital immediately Share Capital
following
the Placing
Hermes Group
Assets Limited 14,000,000 27.64 134,500,000 28.82
Audley Registrars
Limited 7,500,000 14.80 132,000,000 28.29
Marglaw Secretarial
Services Limited 6,500,000 12.83 133,000,000 28.50
Primrose Energy - - 44,500,000 9.54
As substantial shareholders in the Company the participation of
Hermes Group Assets Limited, Audley Registrars Limited and Marglaw
Secretarial Services Limited in the Placing is classified under the
AIM Rules as a related party transaction. The directors of HPAC,
having consulted with the Company's nominated adviser, WH Ireland
Limited, consider that the terms of this transaction are fair and
reasonable insofar as the Company's shareholders are concerned.
Completion of the Placing is conditional on admission of the New
Ordinary Shares to trading on AIM. Accordingly, application has
been made for the New Ordinary Shares to be admitted to trading on
AIM and it is expected that admission will take place on or about
8.00 a.m. on 19 July 2013 ("Admission").
In accordance with the Disclosure and Transparency Rules (DTR
5.6.1R) the Company hereby notifies the market that, immediately
following Admission, its issued share capital will consist of
466,658,844 Ordinary Shares. The Company does not hold any shares
in treasury. Shareholders may use these figures as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the Disclosure and Transparency Rules.
Contacts:
Hermes Pacific Investments plc
Haresh Kanabar, Chairman +44 (0) 20 7290 3340
WH Ireland Limited
Mike Coe +44 (0) 117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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