Mercom Capital Plc Director/PDMR transactions (7699E)
July 20 2016 - 11:00AM
UK Regulatory
TIDMMCC
RNS Number : 7699E
Mercom Capital Plc
20 July 2016
20 July 2016
Mercom Capital Plc
("Mercom" or "the Company")
Director/PDMR transactions
Following the announcement released earlier today in relation to
the Placing, the Company is pleased to announce that John Zorbas
and Kyle Appleby have now respectively subscribed for 2,400,000 and
600,000 Ordinary Shares of 0.1p each, on the same terms as the
Placing.
As a result, the Company has now conditionally raised GBP300,000
by the issue of 12,000,000 new Ordinary Shares of 0.1p each ("the
Placing Shares"). The Placing Shares represent 40.8 per cent. of
the enlarged issued share capital of the Company.
The subscription for a total of 3,000,000 Placing Shares by John
Zorbas and Kyle Appleby (the "Directors' Placing Participation") is
a related party transaction under the AIM Rules for Companies. The
Independent Director not participating in the Placing, namely
Patrick Cross, having consulted with the Company's nominated
adviser, Northland Capital Partners Limited, considers that the
terms of the Directors' Placing Participation are fair and
reasonable so far as the shareholders of the Company are
concerned.
Application for Admission and Block Admission
Application will be made for the Placing Shares, which will rank
pari passu with the Company's existing Ordinary shares, to be
admitted to trading on AIM ("Admission"). Application will also be
made for the Block Admission of up to 6,000,000 new Ordinary Shares
of 0.1p each which may be issued pursuant to the exercise of
warrants granted in connection with the Placing. It is anticipated
that Admission and the Block Admission will become effective on 29
July 2016.
Following Admission, the interests of the Directors in the
Company's enlarged share capital will be as follows:
Placing Shares Total shareholding %
--------------- --------------- ------------------- ------
Patrick Cross - 906,957 3.08
--------------- --------------- ------------------- ------
John Zorbas 2,400,000 4,898,595 16.99
--------------- --------------- ------------------- ------
Kyle Appleby 600,000 1,590,881 5.42
--------------- --------------- ------------------- ------
Total voting rights
Following Admission, the Company's share capital will consist of
29,426,773 ordinary shares with voting rights. The Company does not
hold any ordinary shares in treasury. Therefore, the total number
of voting rights in the Company is 29,426,773. This figure may 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 to their interest in, the Company under
the FCA's Disclosure Rules and Transparency Rules.
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 announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014. The
information set out below is provided in accordance with the
requirements of Article 19(3) of that Regulation.
1 Details of the persons discharging managerial
responsibilities I person closely associated
--- ---------------------------------------------------------
a) Name 1. John Zorbas
2. Kyle Appleby
--- ------------------------- ------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status 1. Chief Executive
2. Finance Director
--- ------------------------- ------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- ------------------------------
3 Details of the issuer
--- ---------------------------------------------------------
a) Name Mercom Capital plc
--- ------------------------- ------------------------------
b) LEI n/a
--- ------------------------- ------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description of Ordinary shares of 0.1p per
the financial share
instrument, type
of instrument
--- ------------------------- ------------------------------
Identification ISIN: GB00B979BX21
code
--- ------------------------- ------------------------------
b) Nature of the Subscription for new Ordinary
transaction shares
--- ------------------------- ------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------- ----------
1. 2.5p 2,400,000
-------------- ----------
2. 2.5p 600,000
-------------- ----------
--- ------------------------- ------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
--- ------------------------- ------------------------------
e) Date of the transaction 20 July 2016
--- ------------------------- ------------------------------
f) Place of the transaction London Stock Exchange
--- ------------------------- ------------------------------
1 Details of the persons discharging managerial
responsibilities I person closely associated
--- ----------------------------------------------------------
a) Name 1. John Zorbas
2. Kyle Appleby
--- ------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------
a) Position/status 1. Chief Executive
2. Finance Director
--- ------------------------- -------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- -------------------------------
3 Details of the issuer
--- ----------------------------------------------------------
a) Name Mercom Capital plc
--- ------------------------- -------------------------------
b) LEI n/a
--- ------------------------- -------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------
a) Description of Warrant over Ordinary shares
the financial of 0.1p per share
instrument, type
of instrument
--- ------------------------- -------------------------------
Identification n/a
code
--- ------------------------- -------------------------------
b) Nature of the Subscription for warrants over
transaction new Ordinary shares
--- ------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------- ----------
1. 5p 1,200,000
----------------- ----------
2. 5p 300,000
----------------- ----------
--- ------------------------- -------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
--- ------------------------- -------------------------------
e) Date of the transaction 20 July 2016
--- ------------------------- -------------------------------
f) Place of the transaction n/a
--- ------------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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