PureCircle Limited Private Placement to Support Accelerated Growth (8450U)
October 21 2014 - 2:00AM
UK Regulatory
TIDMPURE
RNS Number : 8450U
PureCircle Limited
21 October 2014
PURECIRCLE LIMITED
("PureCircle" or the "Company")
PRIVATE PLACEMENT TO SUPPORT ACCELERATED GROWTH
PureCircle (LSE: PURE), the world's largest producer and
marketer of high purity stevia, today announces the placing of 2.5
million new ordinary shares of the Company (the "Placing Shares")
to existing shareholders (including directors and senior
management) and new investors at a price of GBP5.50 each (the
"Placing"), raising US$22 million for the Company. The proceeds
together with the Company's cash and funding headroom will be used
to expand current supply chain to support accelerated growth.
Details of the Placing
The Placing Shares will, when issued and duly paid, rank pari
passu in all respects with the existing ordinary shares in the
share capital of the Company.
The Placing will be completed upon receipt of funds, expected to
be finalized on 10 November 2014. Upon completion of the Placing,
total ordinary shares (which include treasury shares) will increase
to 167,366,294. Correspondingly, the total number of voting rights
will increase to 167,237,430: this figure should be used by
shareholders as the denominator in the calculation of their
interest in the Company.
Application will be made for admission of the Placing Shares for
trading on AIM ("Admission") and Admission is expected to take
place on or around 10 November 2014 following completion of the
Placing.
Directors' participation and notifiable interest
Directors participating in the Placing are doing so on the same
terms as all other participating investors. The details of these
directors and their corresponding interests following Admission of
the Placing Shares are as follows:-
Name Number of Placing Total interest held after Admission
shares
--------------------------------------
Shares Options
----------------------- ------------------ --------------------- ---------------
Executive
----------------------- ------------------ --------------------- ---------------
Mr M Malsagov 11,300(1) 14,866,912 691,976
----------------------- ------------------ --------------------- ---------------
Mr W Mitchell 12,000 922,890 533,859
----------------------- ------------------ --------------------- ---------------
Non-Executive
----------------------- ------------------ --------------------- ---------------
Mr P Selway-Swift 5,500(2) 207,800 Nil
----------------------- ------------------ --------------------- ---------------
Mr O Maes 7,200 418,510 4,110
----------------------- ------------------ --------------------- ---------------
Mr P Lai 5,500 200,100 4,360
----------------------- ------------------ --------------------- ---------------
Mr C Pratt 5,500(3) 692,416 3,280
----------------------- ------------------ --------------------- ---------------
(1) indirectly through his spouse
(2) indirectly via HSBC Trustee (Jersey) Ltd
(3) indirectly via The CDP 2014 Trust
In addition, following the completion of the Placing, the
amended significant shareholdings and notifiable interest of in the
Company will comprise:-
Name Number of Shares % Shareholding
--------------------------------------- ----------------- ---------------
Wang Tak Company Limited* 39,900,600 23.9%
--------------------------------------- ----------------- ---------------
Olam International Limited 30,544,609 18.3%
--------------------------------------- ----------------- ---------------
Magomet Malsagov 14,866,912 8.9%
--------------------------------------- ----------------- ---------------
Halfmoon Bay Capital Limited 13,268,724 7.9%
--------------------------------------- ----------------- ---------------
Asian Investment Management Services
Ltd. and related parties 9,559,314 5.7%
--------------------------------------- ----------------- ---------------
Swire Beverages Holdings Ltd. 5,800,000 3.5%
--------------------------------------- ----------------- ---------------
*including Mr. Tan Boon Seng and spouse
21 October 2014
Enquiries:
PureCircle Limited (www.purecircle.com)
Magomet Malsagov - CEO +60 1 2388 8049
William Mitchell - CFO +44 7974 005163
RFC Ambrian Limited (NOMAD)
Stephen Allen +61 8 9480 2500
NOTES TO EDITORS
PureCircle is the global leader in production and marketing of
stevia ingredients. PureCircle leads the industry with development
of a vertically integrated, sustainable and natural supply chain.
Stevia is grown for PureCircle across South America, Africa, Asia
and the United States where it provides a sustainable cash crop for
farming communities. As part of the company's proprietary Stevia
3.0 TM portfolio, PureCircle has developed a broad range of
ingredient solutions and has pioneered such ingredients as Reb A,
SG95, and breakthrough ingredients such as PureCircle Alpha, Reb D,
Reb M as well as PureCircle Flavors. PureCircle also established
joint venture partnerships with sugar industry leaders to
innovatively combine stevia and sugar for natural sweetening
solutions and locally support customers. These global partnerships
include Tereos PureCircle Solutions, with Tereos and NPSweet A/S
with Nordzucker, in Europe. As part of its industry leadership,
PureCircle pioneered the trust mark Stevia PureCircle(R), which
educates consumers about the benefits of stevia and provides a
strong base of trust for both consumers and food and beverage
companies alike. The company also founded The Global Stevia
Institute, (www.globalsteviainstitute.com) the leading resource for
accurate, science-based information on stevia led by a global
advisory board of internationally recognized health professionals.
PureCircle's global headquarters are in Kuala Lumpur, Malaysia.
PureCircle is listed on the London Stock Exchange AiM market under
the ticker symbol: PURE. For more information on PureCircle, visit:
www.purecircle.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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