Kennedy Ventures PLC Placing and issue of equity (1327D)
March 25 2014 - 9:30AM
UK Regulatory
TIDMKENV
RNS Number : 1327D
Kennedy Ventures PLC
25 March 2014
Kennedy Ventures plc
Placing to raise a further GBP60,625 and issue of equity
Further to the announcement released earlier today, Kennedy
Ventures plc ("Kennedy Ventures" or "the Company") is pleased to
announce that it has raised a further GBP60,625 (before expenses)
through the issue of 4,850,000 new ordinary shares ("Placing
Shares") at a price of 1.25 pence per Placing Share in Kennedy
Ventures (the "Placing") to certain Directors of the Company.
The Directors participation in the Placing is set out below:
Director Placing Beneficial Interest
Shares post-Placing
---------------- ---------- ----------------------
Peter Redmond 1,320,000 1,320,000 1.86%
---------------- ---------- ------------- -------
Colin Weinberg 1,810,000 1,960,000 2.76%
---------------- ---------- ------------- -------
Chris Yates 1,720,000 1,810,500 2.55%
---------------- ---------- ------------- -------
The Directors' participation in the Placing is a related party
transaction under the AIM Rules for Companies. In the absence of an
independent director, Cenkos Securities plc, the Company's
nominated adviser, considers that the terms of the transaction are
fair and reasonable insofar as the Company's shareholders are
concerned.
Application has been made for 4,850,000 new Ordinary Shares,
which will rank pari passu in all respects with the existing
Ordinary Shares of the Company, to be admitted to trading on AIM
("Admission"). Admission is expected to be effective from 8.00 a.m.
on 28 March 2014.
Further to the announcement released earlier today, and
following Admission of the Placing Shares referred to above, Giles
Clarke, Chairman of the Company remains interested in a total of
4,800,000 ordinary shares (representing 6.75% of the Company), Nick
Harrison, a Director of the Company, remains interested in a total
of 4,800,000 ordinary shares (representing 6.75% of the Company)
and Westleigh Investments Holdings Limited (a company beneficially
owned by Giles Clarke and Nick Harrison), holds 7,600,000 Ordinary
shares, (representing 10.69% of the Company).
Following Admission of the Placing Shares the total issued share
capital of the Company is 71,098,000 Ordinary Shares, each with
voting rights.
The Company does not currently hold any shares in treasury.
Accordingly, this figure of 71,098,000 Ordinary Shares may be used
by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FSA's Disclosure and
Transparency Rules.
For further information, please contact:
Kennedy Ventures plc
Peter Redmond, Director +44 (0) 0207 580 7576
Cenkos Securities plc
Derrick Lee / Alan Stewart +44 (0) 131 220 6939
Peterhouse Corporate Finance
John Levinson +44 (0) 207 469 0935
This information is provided by RNS
The company news service from the London Stock Exchange
END
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