Schedule 1 - SovGEM Limited
June 01 2009 - 7:37AM
UK Regulatory
TIDMSOV
RNS Number : 1277T
AIM
01 June 2009
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| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN |
| ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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| |
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| COMPANY NAME: |
| |
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| SovGEM Limited (to be re-named Hanson Westhouse Holdings plc on admission) |
| |
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| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING |
| ADDRESS (INCLUDING POSTCODES) : |
| |
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| Registered office address and trading address prior to re-admission |
| 3rd Floor |
| Windward House |
| La Route de la Liberation |
| St Helier |
| Jersey JE2 3BQ |
| Channel Islands |
| Trading address following re-admission |
| One Angel Court |
| London EC2R 7HJ |
| |
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| COUNTRY OF INCORPORATION: |
| |
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| Jersey |
| |
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| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE |
| 26: |
| |
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| Prior to re-admission |
| www.sovgem.co.uk |
| Following re-admission |
| www.hansonwesthouse.com |
| |
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| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF |
| AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY). IF THE |
| ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS |
| SHOULD BE STATED: |
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| The company currently specialises in providing investment finance to |
| companies operating in emerging markets, especially in China. |
| The company announced on 6 May 2009 that it was intending to enter into a |
| conditional sale and purchase agreement to acquire the entire issued share |
| capital of Hanson Westhouse Holdings Limited, the holding company of |
| Hanson Westhouse Limited, an integrated corporate finance and broking |
| house. It is the intention of the new board to manage the existing SovGEM |
| portfolio as an investment portfolio within the enlarged group. |
| Is the intention of the new board that, following admission, the enlarged |
| group's principal place of business will be in the United Kingdom and the |
| main business of the company will be the provision of corporate advisory |
| and broking services to small and medium sized public and private |
| companies. |
| Under Rule 14, this admission is sought as a result of a reverse |
| take-over. |
| |
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| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO |
| TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, |
| nominal value and issue price to which it seeks admission and the number |
| and type to be held as treasury shares): |
| |
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| 11,459,196 ordinary shares of 0.005p each |
| Placing price of 59.5p per ordinary share |
| No treasury shares |
| No restrictions as to transfer |
| |
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| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET |
| CAPITALISATION ON ADMISSION: |
| |
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| Capital to be raised on admission - GBP850,000 |
| Market capitalisation of the company on admission at the placing price - |
| GBP6.82 million |
| |
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| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
| |
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| 53% |
| |
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| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM |
| SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR |
| TRADED: |
| |
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| Not applicable |
| |
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| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining |
| the first name by which each is known or including any other name by which |
| each is known): |
| |
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| Garth Peter Denis Milne, Non-executive Chairman |
| William Philip Staple, Chief Executive |
| Jonathan Giles Ashley Azis, Finance Director |
| Sir Gerald Hayden Phillips, Non-executive Director |
| Andrew Nigel Wendover Beeson, Non-executive Director |
| |
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| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A |
| PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION |
| (underlining the first name by which each is known or including any other |
| name by which each is known): |
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| Shareholder Before After |
| re-admission re-admission |
| Michael Peter Milbourn 12.62% 5.02% |
| Hugh de Lusignan 8.07% 3.21% |
| Antoine de Sejournet de Rameignies 7.29% 2.90% |
| Paul Luke 5.87% 2.33% |
| Hargreave Hale Limited 5.58% 2.22% |
| Douglas Richard Kearney 5.13% 2.04% |
| Garth Peter Denis Milne 4.37% 2.10% |
| Hon. Robert William Hanson 0% 19.62% |
| William Philip Staple 0% 8.30% |
| Sanjiv Pandya 0% 5.24% |
| Timothy Mark Metcalfe 0% 4.87% |
| Timothy David Feather 0% 4.86% |
| |
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| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, |
| PARAGRAPH (H) OF THE AIM RULES: |
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| No persons required to be disclosed |
| |
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| * ANTICIPATED ACCOUNTING REFERENCE DATE * |
| DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS |
| BEEN PREPARED (this may be represented by unaudited interim financial |
| information)* |
| DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM |
| RULES 18 AND 19: |
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| * 31 December* |
| 31 December 2008* |
| Interim results for the period ended 30 June 2009 - by 30 September 2009; |
| Annual results for the year ended 31 December 2009 - by 30 June 2010; |
| Interim results for the period ended 30 June 2010 - by 30 September 2010. |
| |
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| EXPECTED ADMISSION DATE: |
| |
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| 16 June 2009 |
| |
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| NAME AND ADDRESS OF NOMINATED ADVISER: |
| |
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| Smith & Williamson Corporate Finance Limited |
| 25 Moorgate |
| London |
| EC2R 6AY |
| |
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| NAME AND ADDRESS OF BROKER: |
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| Hanson Westhouse Limited |
| One Angel Court |
| London |
| EC2R 7HJ |
| |
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| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR |
| INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A |
| STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE |
| ADMISSION OF ITS SECURITIES: |
| |
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| The admission document, which contains full details about the applicant |
| and the admission of its securities, is available on the company's website |
| at www.sovgem.co.uk or, following re-admission, www.hansonwesthouse.com. |
| |
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| DATE OF NOTIFICATION: |
| |
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| 01 June 2009 |
| |
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| NEW/ UPDATE: |
| |
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| New |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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