Mercom Capital Plc Placing and warrant issue (6503E)

TIDMMCC

RNS Number : 6503E

Mercom Capital Plc

20 July 2016

Mercom Capital Corporation Plc

("Mercom" or "the Company")

Placing and warrant issue

The Company is pleased to announce that it has conditionally raised GBP225,000 before expenses through the placing of 9,000,000 new Ordinary Shares of 0.1p each (the "Placing Shares") at a price of 2.5p per Placing Share (the "Placing") with new shareholders, together with the issue of warrants over Ordinary Shares on the basis of one warrant for every two Placing Shares exercisable at a price of 5p per share for a period of six months from admission of the Placing Shares to trading on AIM.

In addition, the Board has been advised that two directors of the Company, namely John Zorbas and Kyle Appleby, intend to subscribe for a total of 3,000,000 shares on the same terms following the announcement of the Placing.

The net proceeds of the Placing will be applied to increase the Company's working capital and to facilitate additional investments under the Company's investing policy.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Placing, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

A further announcement will be made in due course.

END

For further information, please contact:

 
 Mercom Capital Plc 
  John Zorbas                     001 416 504 3978 
 
   Northland Capital Partners 
   Limited 
   Nominated Adviser and 
   Broker 
   Edward Hutton / Matthew 
   Johnson                         +44 (0) 20 3861 6625 
 
   Beaufort Securities 
   Limited 
   Joint Broker 
   Elliot Hance                    +44 (0) 20 7382 8300

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOESFUFIUFMSELW

(END) Dow Jones Newswires

July 20, 2016 02:00 ET (06:00 GMT)

Monchhichi (LSE:MCC)
Historical Stock Chart
From Jul 2024 to Aug 2024