Issue of Equity

RNS Number : 9907V

Kleenair Systems International PLC

11 November 2010

 



KLEENAIR SYSTEMS INTERNATIONAL PLC

(AIM: KSI)

Issue of Equity

Kleenair Systems International plc ("KSI" or "the Company") announces that it has agreed to issue and allot 401,155 ordinary shares of 1 pence each (" New Ordinary Shares") in settlement of obligations under the Creditors Voluntary Arrangement approved by Shareholders on 24 June 2009 ("the CVA").

The Company has recently received notification from Antony Batty & Company LLP (the nominee of the CVA) that a resolution has now been reached between the remaining creditors and that the previously agreed amount of 406,150 ordinary shares are due to be issued.  It is proposed that the CVA shares be issued to the Creditors in accordance with the instructions received from Antony Batty & Co.  Further to this issue the Company will have no further obligations under the CVA.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on  Thursday 18 November 2010. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following this issue the Company will have 5,005,701 Ordinary Shares of 1 pence each in issue.

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R), the Company confirms that, following this issue, its issued share capital comprises 5,005,701 Ordinary Shares of 1 penny each, 400,932 Deferred Shares of 99 pence each and 122,120 B Ordinary Shares of 1 pence each. The Deferred Shares and B Ordinary Shares have no voting rights.  All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 5,005,701.  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 share capital of the Company under the Disclosure and Transparency Rules.

Contacts:
Kleenair Systems International plc	www.kleenair-systems.com
Sarah Pozner, Company Secretary	[phone]
Biddicks	www.biddicks.co.uk
Zoë Biddick	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
JN Wakefield / Marc Davies	[phone]

 

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