Snacktime PLC New share Subscription and Directorate changes (0984J)
June 09 2014 - 2:00AM
UK Regulatory
TIDMSNAK
RNS Number : 0984J
Snacktime PLC
09 June 2014
SnackTime plc
("SnackTime" or the "Company")
Subscription to raise GBP570,000
and
Directorate changes
SnackTime is pleased to announce that it has raised GBP570,000
through a subscription for 3.8 million new ordinary shares of 2p
each ("Subscription Shares") at 15p per Subscription Share, and the
appointment of two new directors to the Board of the Company.
Subscription
SnackTime has raised GBP570,000 through a subscription by
Versatel Co Limited ("Versatel") for 3.8 million Subscription
Shares at 15p per Subscription Share. Versatel is a newly
incorporated vehicle registered in the UK whose two directors are
Boris Belotserkovsky and Oleg Chulkov. Mr Belotserkovsky currently
holds 1,466,400 ordinary shares in SnackTime, representing 7.3 per
cent. of its current issued share capital.
The net proceeds of the Subscription will be used for working
capital purposes and to reduce indebtedness.
Application has been made for the Subscription Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to
become effective and dealings are expected to commence in the
Subscription Shares on 10 June 2014.
Following Admission, Mr Belotserkovsky will be interested in
5,266,400 Shares, representing approximately 26.14 per cent. of the
Company's enlarged issued share capital. The Subscription Shares
shall, upon issue, rank pari passu with the Company's existing
issued ordinary shares of 2 pence each ("Shares"). Following
Admission, the Company's issued share capital will comprise
20,149,014 Shares carrying voting rights. 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 in their interests in, the Company under the FCA's
Disclosure and Transparency Rules.
Directorate changes
SnackTime announces that upon Admission Boris Belotserkovsky and
Gillian White will be appointed as non-executive Directors of the
Company.
Boris Belotserkovsky who is both a Russian and US citizen is
Chairman and sole owner of Uvenco (www.uvenco.ru), Russia's leading
vending company. He also has material shareholdings in Oplata LLC
and Transvend CJSC which are both involved in vending. Mr
Belotserkovsky is a President of the Russian National Vending
Association and a Managing Director and a member of the executive
committee of the European Vending Association.
Gillian White is an executive board member of both the European
Vending Association and the Automatic Vending Association and is a
director of 24Vend Limited, a consultancy giving global advice to
vending clients on technology and innovation, having previously
spent 19 years with Mars Inc. running their confectionery vending
business.
Jeremy Hamer, Executive Chairman of SnackTime, commented: -
"The addition of Boris and Gillian to our Board will allow
SnackTime to benefit from a wealth of vending experience from
across Europe. After a tough 5 years, new technologies are just
beginning to revolutionise vending, improving both the retail
experience and corporate profitability. Today's announcement
underlines SnackTime's commitment to capitalise on these
developments here in the UK."
Disclosure re Boris Berlotserkovsky
Boris Belotserkovsky (aged 59) is currently a director of
Versatel and Gaba International Inc and was formerly, in the last 5
years, a director of Uvenco Holdings Limited and Unicum Investment
AG.
Mr Belotserkovsky has confirmed that there are no other details
regarding his appointment that require disclosure under Schedule
2(g) of the AIM Rules for Companies.
Disclosure re Gillian White
Gillian Lesley White (aged 52) is currently a director of the
following companies: -
24Vend Limited
AVA limited
Bitbox Limited
Coeliac UK limited
EVA aisbl
Ms White has confirmed that there are no other details regarding
her appointment that require disclosure under Schedule 2(g) of the
AIM Rules for Companies.
For further information:-
SnackTime PLC 020 8879 8300
Jeremy Hamer, Chairman
Tim James, CFO
Westhouse Securities Limited 020 7601 6100
Tom Griffiths
Richard Johnson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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