Issue of Equity

RNS Number : 2480L

Energiser Investments PLC

28 July 2011

 

ENERGISER INVESTMENTS PLC ("Energiser" or "Company")

ISSUE OF EQUITY - PLACING TO RAISE £117,500

Energiser announces the conditional placing of 11,750,000 new ordinary shares of 0.1 pence each ("New Ordinary Shares") at a price of 1.0 pence per New Ordinary Share by way of a private placement to raise gross proceeds of approximately £117,500 (the "Placing"), of which approximately £40,000 is being subscribed for by Nishith Malde, a director of the Company.  Additionally, the Company's largest shareholder, Stephen Wicks, is providing financial support to the Company by way of his participation in this placing to the value of approximately £40,000.

The proceeds of the Placing will be used for general working capital purposes.

The issue of the New Ordinary Shares pursuant to the placing is conditional on the admission of the new Ordinary Shares to trading on AIM ("Admission") which is expected to take place on 29 July 2011.  The placing has been conducted using authorities approved at Energiser's last AGM held on 28 June 2011.

The transaction is a related party transaction for the purposes of Rule 13 of the AIM Rules as Stephen Wicks currently holds 61% of the Company's issued share capital, Nishith Malde is a director and a third investor, Howard Cramer  who is subscribing for £10,000 of the issue, is a director of a Company subsidiary.  Simon Bennett, being the only director of Energiser who is not involved in this transaction as a related party, having consulted with finnCap, the Company's nominated adviser, considers that the terms of the transaction are fair and reasonable as far as shareholders are concerned.

The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.1 pence each in the capital of the Company, including the right to receive all dividends and other distributions declared or paid thereon following Admission.

Following Admission, the Company will have 43,787,956 ordinary shares of 0.1 pence each in issue ("Enlarged Share Capital").  The above figure of 43,787,956 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 interest in, Energiser, under the Disclosure and Transparency Rules.

Following Admission the directors of the Company, Mr Wicks and Mr Cramer will hold, or be interested in, the following:

	New Ordinary Shares	Total ordinary shares held following Admission	% of the Enlarged Share Capital
Simon Bennett	-	750,000	1.71%
Nishith Malde	4,000,000	5,935,464	13.56%
Total directors	4,000,000	6,685,464	15.27%
Stephen Wicks	4,000,000	23,558,855	53.80%
Howard Cramer	1,000,000	3,419,488	7.81%

For further information

Energiser Investments plc   Tel: [phone]

Nishith Malde, Director

finnCap Limited (Nominated Adviser)     Tel: [phone]

Matthew Robinson

Rose Herbert

 

END

 

 

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