1PM PLC Result of General Meeting, Placing and Open Offer (4290H)
June 07 2017 - 8:23AM
UK Regulatory
TIDMOPM
RNS Number : 4290H
1PM PLC
07 June 2017
7 June 2017
1pm plc
(the "Group" or the "Company")
Results of Placing and Open Offer
and Result of General Meeting
On 18 May 2017, 1pm plc, the AIM listed independent specialist
provider of finance facilities to the SME sector, announced a
Placing to raise GBP9.9 million and an Open Offer to raise up to an
additional GBP3.1 million.
The Company is pleased to announce that at its General Meeting
held today in Bath, all of the resolutions put to shareholders as
set out in the Circular dated 18 May 2017 were duly passed.
The Company is also pleased to announce the results of the Open
Offer, which closed for acceptances at 11:00 a.m. on 6 June 2017.
The Open Offer was over-subscribed. Valid acceptances have been
received in respect of 7,530,495 new ordinary shares of 10 pence
each (the "Ordinary Shares"), representing a percentage take up of
110 per cent of those Ordinary Shares available under the Open
Offer. Accordingly the maximum gross amount of approximately GBP3.1
million will be raised under the Open Offer. Qualifying
Shareholders who have applied for Offer Shares will receive their
full Open Offer entitlement. Shareholders that made an application
under the excess application facility will receive approximately
83.1 per cent of the new Ordinary Shares they applied for.
Application has been made for the 6,861,117 new Ordinary Shares,
to be issued via the Open Offer, to be admitted to trading on AIM.
The Company has also made application for 22,000,000 new Ordinary
Shares, to be issued via the Placing, to be admitted to trading on
AIM. It is expected that Admission and dealings in the 28,861,117
new Ordinary Shares will commence at 8.00 a.m. on 8 June 2017.
Following Admission, the Enlarged Share Capital of the Company will
comprise 83,750,052 Ordinary Shares. Therefore, the total number of
voting rights in the Company is 83,750,052 and 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.
Capitalised terms used in this announcement have the meanings
given to them in the Circular dated 18 May 2017.
For further information,
please contact:
1pm plc
Ian Smith, Chief Executive
Officer 01225 474230
James Roberts, Chief
Financial Officer 01225 474230
Cenkos (NOMAD)
Max Hartley, Harry
Pardoe (NOMAD),
Julian Morse (Sales) 0207 397 8900
Walbrook PR 0117 985 8989
Paul Vann 07768 807631
paul.vann@walbrookpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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