Issue of equity and Board changes

RNS Number : 5425R

CSS Stellar PLC

04 November 2011

 



For Immediate Release

4 November 2011

CSS Stellar plc

(the "Company")

Issue of equity, Board changes and change of registered address

Issue of equity

The Company is pleased to announce that it has conditionally placed 25 million new ordinary shares of 1p each at a price of 1.25p (the "Placing Shares") with new shareholders ("the Placing") to raise £312,500. The Placing will provide the Company with additional funds to implement its investing policy. 

As mentioned in its recent half yearly report, certain of the opportunities available to the Company for investment do not fall within the investing policy adopted in March 2011. With this in mind, the directors are, subject to shareholder approval, considering amending the investing policy to enable them to fully consider and, if deemed appropriate, invest in these opportunities. Further details will be announced in the near future.

Application will be made for the Placing Shares, which will rank pari passu with the existing ordinary shares, to be admitted to AIM. Dealings in the Placing Shares are expected to commence on or around 11 November 2011 ("Admission").

Following Admission, there will be 53,976,581 ordinary shares in issue. The Company holds 232 ordinary shares as treasury shares. Therefore, the total number of voting rights in the Company is 53,976,349. This number 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 in their interest in, the share capital of the Company.

Board changes

The Company also announces changes to the Board of Directors.

David Lenigas and Donald Strang join the Board as Executive Director and Finance Director respectively, with immediate effect.

Mr. Lenigas (50) is Chairman of Lonrho plc, Lonrho Mining Limited, LonZim plc, Leni Gas and Oil plc and Solo Oil plc.  He is a Director of Vatukoula Gold Mines plc and a Non-Executive Director of Rare Earth Minerals Plc.  

Mr. Strang (43) is Finance Director of Leni Gas and Oil plc.

Mr. Lenigas and Mr. Strang will serve on the Audit and Remuneration committees. The information that is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies is set out below.

Interests in shares

Following the issue and allotment of the Placing Shares and Admission, the interests of the Directors and those shareholders who are interested, where known, in 3% or more of the issued share capital of the Company will be as follows:

Directors	%
Julian Jakobi	9.9
John Webber	5.6
David Lenigas	3.0
Donald Strang	3.0
Others
Nick Gold	9.8
Kirwan Morzaria	8.9
Amberdays Limited	8.2
Green Hair Services Limited	5.2
Alphagen Fund Volantis Limited	3.1

Change of registered address

The Company also announces that the Directors have resolved that the Company's registered address be changed to Suite 3b, 38 Jermyn Street, London SW1Y 6DN.

For further information, contact:

CSS Stellar plc
Julian Jakobi David Lenigas	Tel: [phone] Tel: [phone]
Northland Capital Partners Limited (Nominated Adviser and Broker)
Luke Cairns / Edward Hutton	Tel: [phone]

David Anthony Lenigas

Current directorships

Lonrho Transport Limited Solo Oil International Limited LAH Jersey Limited LAH Jersey 2 Limited LAH Jersey 3 Limited Lonrho Africa (Holdings) Limited 670 Plc Lonrho Ports & Infrastructure Limited Lonrho Infrastructure Limited Lonrho Ports Limited Lonrho Support Services Limited Swissta Holdings Limited Swissta Mozambique Lda Strenner Holdings Limited Lonrho Africa Holdings BV e-Kwikbuild SA (Pty) Limited Africa Expeditions Limited Best in Tents Limited Afex Holdings Limited Global Horizons Limited Luba Freeport Limited Lonrho IT Limited Sociedade Comercial Bytes & Pieces Limitada Complete Enterprise Solutions Limited Indit Technology Distribution (Pty) Limited Complete Enterprise Solutions (Pty) Limited Lonrho South Africa (Pty) Limited Lonrho Management South Africa (Pty) Limited Lonrho Projects South Africa (Pty) Limited Lonrho Projects Consulting (Pty) Limited Lonrho Projects Agri (Pty) Limited Lonrho Energy (Pty) Limited Lonrho Securitec (Pty) Limited Lonrho Amathonga Hotels (Pty) Limited Lonrho Hotels Congo (BVI) Limited Lonrho Oil (Malawi) Limited Lonrho Infrastructure (BVI) Limited Lonrho Agribusiness (BVI) Limited Laytons Offshore Limited Rollex (Pty) Limited Lonrho Logistics (Pty) Limited Fresh Direct Limited Rollex (Pvt) Limited Lonrho Agriculture Angola Limited Protea Seafoods Oceanfresh Seafoods (UK) Limited Oceanfresh Seafoods (Pty) Limited Lonrho Agribusiness Limited Fish On Line (Pty) Limited Crop Harvest Limited Mozambique Machines Limited Lonrho Springs BV Lonrho Water Limited Cultivate Harvest Limited Five Forty Aviation Limited Lonrho Air BV Lonrho Aviation (BVI) Limited Lonrho Air (BVI) Limited Lonrho Air (2) (BVI) Limited Lonrho Air Three (BVI) Limited Five Forty Africa (BVI) Limited Lonrho Air Africa (BVI) Limited Lonrho Ports BV Lonrho Ports Limited Lonrho Africa Hotels BV Lonrho Hotels Limited LAH Mozambique Hotels Limited DRC Hotels Limited Lonrho Hotels (Holdings) Limited Lonrho Budget Hotels Limited Lonrho Hotels BV Lonrho Hotels Management Services (BVI) Limited Hotel Accommodation Limited Lonrho Hotels Mozambique BV Lonrho Management Services Limited Lonrho Holdings Ltd Lonrho Resources Ltd Lonrho Finance Ltd Lonrho Investments Ltd Lontel Ltd Lonrho Africa Agribusiness BV Lonrho Africa Distributors BV Lonrho Africa Food Processing BV Lonrho Africa Motors BV Lonrho Distributors BV Lonrho Motors BV Lonrho Springs BV Zest Songs Limited Reggae Tunes Limited Zest Music Limited Zest Entertainments Limited Ret Services Limited Rare Earth Resources Limited Reef Resources Ltd Rare Earth Minerals plc (formerly Zest Group plc)

Micobe Property Development Limited

Lonrho Zimbabwe Management Services (Pvt) Limited

Lonrho Africa Management Services (Zimbabwe) Ltd

Lonrho Africa Motor Sales Limited

Lonrho Properties Zimbabwe (Pvt) Ltd

Lonrho Auto Distributors Limited

Norse Air Limited (in liquidation)

Sindu Properties (Private) Limited

One Hundred & Seventeen Baines Avenue (Private) Ltd

Textile Investment Company Limited

Sol Aviation Company Limited

Lonzim Holdings Limited

Lonzim Properties Limited

Lyons Africa Holdings Limited

Linus Business Options (Private) Limited

Firstfood Enterprises (Private) Limited

Chenyakwaremba Farm (Private) Limited

Leopard Rock Hotel Company (Pvt) Ltd

Celsys Zambia Limited

WS Foods (Pty) Ltd

LonZim Hotels Limited

Morningdale Properties (Pvt) Limited

Lanuarna Enterprises (Pvt) Limited

Medalspot (Pvt) Limited

Paynet Limited

African Solutions Limited Le Har (Pvt) Limited

Southern African Management Services

Aldeamento Turistico de Macuti, SARL

Quickvest 525 (Pty) Limited

ForgetMeNot Africa Limited

Active Resource Realisation Fund

Solo Oil plc (formerly Immersion Technologies International plc)

Lonzim Agribusiness (BVI) Limited

Lonzim Air (BVI) Limited

LonZim plc

Rex Mining (Pvt) Limited

Peak Mines (Pvt) Limited

Gardoserve (Pvt) Limited

Celsys Limited

Blueberry International Services Limited

Blueberry Print (Zambia) Limited

Wardlaw (1989) Limited

Lonzim Management Limited

Lonrho Mining Limited

Leni Gas & Oil plc

Lonrho plc

Vatukoula Gold Mines plc (formerly River Diamonds plc)

Past directorships held within the last 5 years

Vatukoula Australia Pty Ltd (formerly Westech Australia Pty Ltd) Vatukoula Gold Pty Ltd (formerly Westech Gold Pty Ltd) Vatukoula Finance Pty Ltd (formerly Westech Finance Pty Ltd) Vatukoula Gold Mines Ltd Jubilee Mining Ltd Koula Mining Ltd Templar Minerals Ltd Our Forgotten Children Limited River Diamonds UK Limited Byron Energy Pty Ltd Lonrho Jersey Limited

Hot Tuna International plc

Hot Tuna (International) Inc

Capberg Ltd (formerly Lonzim plc)

SA Independent Liners (Pty) Ltd

Templar Resources Limited

Indo Mineratama BVI Limited

Mediterranean Oil & Gas plc

Asia Energy Corporation (Bangladesh) Pty Ltd

Asia Energy Corporation Pty Ltd

GCM Resources Plc (formerly Asia Energy Plc)

BDI Mining Corp (Formerly BM Diamondcorp Inc)

Saginel Holding Pty Ltd

Zimbabwean Investments Ltd

Lonrho Springs Limited

David Lenigas was a director of: SA Independent Liner Services Pty Ltd ("SAILS") when it was placed into liquidation on 15 October 2008 - it was a subsidiary within the Lonrho Plc group of companies ("Lonrho Group") and was placed into liquidation by a unanimous board resolution of SAILS, the Lonrho Group currently being the major creditor, with this business being shown as a discontinued activity in the historic financial statements of the Lonrho Group

David Lenigas is a director of Norse Air Limited which was placed into liquidation on 20 December 2010 - at the point of liquidation it was a wholly owned subsidiary within Lonrho Group and was placed into liquidation by a unanimous board resolution of Norse Air Limited, with this business being shown as a discontinued activity in the historic financial statements of Lonrho Group.

Donald Ian George Layman Strang

Current directorships

Leni Gas and Oil plc

Compania de Sedano Ltd.

Leni Trinidad Ltd.

Past directorships held within the last 5 years

Lonhro plc

Vatukoula Gold Mines plc

Vatukoula Gold Pty Ltd

Vatukoula Finance Pty Ltd

Vatukoula Australia Pty Ltd

Brinkley Mining plc

Western Uranium Pty Ltd.

Brinkley Mining Project 1 Ltd.

Brinkley Mining South Africa Pty Ltd.

Brinkley Africa Ltd.

No further information with respect to David Anthony Lenigas or Donald Ian George Layman Strang is required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies.

 

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