Update on Subscription

RNS Number : 3661H

St James House PLC

24 March 2020

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

24 March 2020

ST. JAMES HOUSE PLC

 ("SJH", the "Group" or the "Company")

Update on Subscription

The Company announced on 12 March 2020 that the monies due on the previously announced (31 January 2020) binding agreement for the subscription for 1.666,667 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 30 pence per Ordinary Share (the "Transaction Price") to raise a total of £500,000 (the "Subscription"), had not been received.  The Subscription had been agreed with Auxilum Investere SJ Ltd, a UK company controlled by Michael and Linda Peters ("AIS"). A further delay has been caused by the difficulties in international travel and communication.  Accordingly, the Board has agreed an extension to the agreement with AIS, the monies now being due no later than 30 April 2020.  The personal surety provided by Mr Peters remains in place under this extension.  No Ordinary Shares have been issued under the Subscription and will not be issued until cleared funds are received.

The effects of the COVID19 pandemic means that Astro Kings, the Nottingham based five-a-side football centre which the Group owns a minority interest, has temporarily stopped operating from 20 March 2020 in line with government guidelines - this will have no material financial impact on the Group. 

The core Group businesses of payment services and lottery administration are working as normal and are well suited to home working and all employees are equipped to do so.  Trading performance remains in line with that announced on 28 February 2020.

For further information, contact:

St. James House PLC Roger Matthews Website www.sjhplc.com	020 3655 5000
Allenby Capital Limited (Nomad, Financial Adviser & Broker) John Depasquale / Nick Harriss	020 3328 5656

 

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