Ultimate Sports Group PLC Placing (9300A)
March 29 2017 - 11:00AM
UK Regulatory
TIDMUSG
RNS Number : 9300A
Ultimate Sports Group PLC
29 March 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 96/2014. UPON THE
PUBLICATION OF THIS ANOUNCEMENT, THE INFORMATION CONTAINED IN THIS
ANNOUNCEMENT IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Ultimate Sports Group Plc ('USG' or 'the Company')
Placing to Raise GBP212,500
Ultimate Sports Group Plc, the AIM listed investment vehicle, is
pleased to announce that it has raised GBP212,500 through the
placing of 2,125,000 new ordinary shares of 10 pence each in the
capital of the Company (the 'Placing Shares') at a price of 10
pence per share with new and existing investors (the 'Placing'),
which includes Directors of the Company. The funds raised will be
used for working capital to support the Company's sports
businesses.
Dowgate Capital Stockbrokers have arranged to place 2,125,000
new shares at 10p per share to raise GBP212,500 before expenses.
Company Directors Richard Owen (Chairman) and Geoffrey Simmonds
(Director) have both participated in the Placing, each investing
GBP50,000 for the subscription of 500,000 new shares each.
Accordingly, following the Placing Richard Owen will hold 2,444,672
shares or 10.8% of the resultant issued share capital, and Geoffrey
Simmonds will hold 2,557,092 shares or 11.3% of the resultant share
capital.
The participation by Richard Owen and Geoffrey Simmonds in the
placing is considered to be a related party transactions under the
AIM Rules and accordingly, the independent directors (being all of
the directors other than Mr Owen and Mr Simmonds), having consulted
with Cantor Fitzgerald Europe, the Company's nominated advisor,
consider the terms of the transactions to be fair and reasonable
insofar as the Company's shareholders are concerned.
Details of the Placing:
The Placing is subject, inter alia, to admission of the Placing
Shares to trading on AIM ('Admission'), which is expected to occur
at 8am on 12 April 2017. Application has been made to the London
Stock Exchange for the Placing Shares to be admitted to trading on
AIM. The Placing Shares will, when issued, rank pari passu in all
respects with the Company's existing Ordinary Shares.
Following Admission, the Company will have 22,611,638 Ordinary
Shares in issue. The Company has no shares in treasury, therefore
the figure of 22,611,638 should be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change of their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.ultimatesportsgroup.me
or contact:
Geoffrey Simmonds Ultimate Sports Group Tel: 020 7935
Plc 0823
Marc Milmo / Cantor Fitzgerald Europe Tel: 020 7894
Catherine Leftley 7000
Neil Badger Dowgate Capital Stockbrokers Tel: 01293 517
Ltd 744
Elisabeth Cowell St Brides Partners Ltd Tel: 020 7236
/ Charlotte Heap 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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