Issue of shares

RNS Number : 3562O

LonZim PLC

16 September 2011

 



16 September,  2011

LONZIM PLC

("LonZim" or the "Company")

Issue of shares

The Company is delighted to announce that it has raised £917,341 from Consilium Emerging Market Return Master Fund ("Consilium") via  a placing of  3,988,439 shares of 0.01 pence each at a price of 23 pence per share (the "Placing").

The Placing has raised £917,341 (before expenses) and will provide working capital for the Group's existing businesses and will provide the Company with the ability to continue implementing its investment strategy. 

Consilium is a substantial shareholder in the Company and therefore its participation in the placing is a related party transaction for the purposes of the AIM Rules for Companies. Having consulted with WH Ireland, the nominated advisor to the Company, the directors of the Company consider the terms of Consilium's participation in the Placing to be fair and reasonable in so far as all the shareholders of the Company are concerned.

The Placing shares have been unconditionally placed save as to their admission to trading on AIM. Application will be made  for admission of the placing shares to trading on AIM and admission is expected to take place on 23 September 2011. 

Following admission to trading on AIM, the Company's total issued share capital will be 58,133,908 ordinary shares. The placing shares will represent approximately 6.86% of the Company's enlarged issued share capital.

The above figure of 58,133,908 ordinary shares represents the total voting rights in the Company and 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 Service Authority's Disclosure and Transparency Rules.

LonZim Plc
David Lenigas	Executive Chairman	[phone]
Geoffrey White	Chief Executive Officer	[phone]
David Armstrong	Finance Director	[phone]
WH Ireland Ltd: Nomad and Broker
James Joyce		[phone]
Pelham Public Relations
Charles Vivian		[phone]
		[phone]
James MacFarlane		[phone]
		[phone]

 

END

 

 

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