St James House PLC Update on Subscription (5630L)
May 01 2020 - 2:00AM
UK Regulatory
TIDMSJH
RNS Number : 5630L
St James House PLC
01 May 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
1 May 2020
ST. JAMES HOUSE PLC
("SJH", the "Group" or the "Company")
Update on Subscription
The Company announced on 24 March 2020 that the monies due on
the previously announced (31 January 2020) binding agreement for
the subscription for 1.666,667 ordinary shares of 1p each in the
capital of the Company ("Ordinary Shares") at a price of 30 pence
per Ordinary Share (the "Transaction Price") to raise a total of
GBP500,000 (the "Subscription"), had not been received, but an
extension had been agreed to 30 April 2020. The Subscription had
been agreed with Auxilum Investere SJ Ltd, a UK company controlled
by Michael and Linda Peters ("AIS"). The Board regrets to inform
shareholders that the funds were not received by yesterday's
deadline.
The Board is reviewing its available options, including legal
remedies. The personal surety provided by Mr Peters remains in
place, and a letter before action has been sent to Mr Peters by the
Company's legal adviser. No Ordinary Shares have been issued under
the Subscription and will not be issued until cleared funds are
received.
The Group's trading and working capital position remains in line
with that announced on 7 April 2020.
A further update will be provided within one week.
For further information, contact:
St. James House PLC
Roger Matthews
Website www.sjhplc.com 020 3655 5000
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss 020 3328 5656
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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