Issue of Equity (9493C)
March 15 2011 - 5:15AM
UK Regulatory
TIDMTIL
RNS Number : 9493C
Tembusu Investments Limited
15 March 2011
15 March 2011
Tembusu Investments Limited
("Tembusu" or the "Company")
Issue of Equity
Tembusu Investments Limited is pleased to announce that it has
raised GBP0.2m through the issue of 10,000,000 new ordinary shares
(the "Subscription Shares") to Bernholz Limited , a company
registered in the British Virgin Island and is 100% owned by Mr.
Lawrence Cheung (the "Subscriber") at 2 pence per ordinary share
(the "Subscription"). The net proceeds of the Subscription shall be
GBP0.2m and will be used by Tembusu for working capital
purposes.
Tembusu Chief Executive Officer Yun Zhang said, "We warmly
welcome our new shareholder. We are optimistic that this will bring
new opportunities to the Company and will strengthen the Company's
financials."
As part of the Subscription, the Subscriber will be issued with
warrants to subscribe for 30,000,000 new ordinary shares (the
"Warrants"). The Warrants have an expiry date of 28 February 2013
and are conditional inter alia, on the Subscriber introducing an
acquisition with certain defined parameters. Of the Warrants,
10,000,000 are exercisable at a price of 4p per share, 10,000,000
are exercisable at a price of 6p per share and the remaining
10,000,000 are exercisable at a price of 8p per share. No
application will be made to admit the Warrants to trading on
AIM.
Application will be made for the admission of the Subscription
Shares to trading on AIM ("Admission") and it is expected that
dealings in the new shares will commence on or around 21 March
2011. The Subscription Shares will rank pari passu in all respects
with the existing ordinary shares of the Company, including the
right to receive dividends and other distributions declared
following Admission.
Following completion of the Subscription, there will be
70,000,000 ordinary shares of 1 pence each in issue. The Company
does not hold any ordinary shares in treasury. Therefore the total
number of ordinary shares in the Company with voting rights will be
70,000,000. This figure 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 to their interest in, the share capital of the Company under
the Financial Services Authority's Disclosure and Transparency
Rules.
For further information please contact:
Tembusu Investments Tel: +65 65332233
Yun Zhang, Director
Allenby Capital Limited Tel: +44 (0) 203 328
Brian Stockbridge/James Reeve 5656
For more information, please visit:
www.tembusuinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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