Exercise of Warrants and Issu

RNS Number : 6362A

600 Group PLC

03 February 2011

 



3 February 2011

The 600 Group PLC

Exercise of Warrants and Issue of Equity

The board of The 600 Group PLC ("600 Group" or "the Company") announces that on 2 February 2011, the Company issued 700,000 ordinary shares of one penny each ("Ordinary Shares"), raising £0.14 million. The new Ordinary Shares were issued following the exercise of warrants ("Warrants") to subscribe for Ordinary Shares.

The Warrants were issued as part of the arrangements for the £2.5 million loan announced by 600 Group on 3 August 2010 and subsequently approved by shareholders at a general meeting of the Company held on 27 August 2010. The Warrants have an exercise price of 20 pence per new Ordinary Share and are valid for five years from 27 August 2010. Following this exercise, 11,800,000 Warrants remain outstanding to be exercised.

Application has been made for the new Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange. It is expected that admission and dealings will be effective and commence from 10 February 2011.

On admission to trading of the new Ordinary Shares, the Company will have 57,933,679 Ordinary Shares in issue with voting rights.

For further information, please contact:

The 600 Group PLC	Tel: [phone]
Martyn Wakeman, Finance Director
Evolution Securities Limited	Tel: [phone]
Joanne Lake / Peter Steel

 

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