Issue of Equity

RNS Number : 0161M

Venture Life Group PLC

07 October 2016

 

7 October 2016

Venture Life Group plc

("Venture Life" or the "Company")

Issue of Equity

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it is issuing 5,000 new 0.3p Venture Life Group plc ordinary shares ("New Ordinary Shares") to Vantage Link Limited ("Vantage Link").  This issue of the New Ordinary Shares is pursuant to an agreement entered into between the Company and Vantage Link in November 2013, as described in paragraph 10.7 of Part IX of the Company's Admission Document, which provided for Vantage Link to be issued with a pre-determined number of new Ordinary Shares at par value following both the signing of the 30 year distribution agreement (the "Agreement") between Venture Life and Gialen Group Co. Limited ("Gialen"), as announced by the Company in January 2015, and the achievement of more than €400,000 of revenue by Venture Life from the Agreement being fulfilled by the Company. Vantage Link had previously introduced Venture Life to Gialen. No further issues of equity to Vantage Link are anticipated under the existing agreement between the Company and Vantage Link. 

The New Ordinary Shares will be allotted and issued, credited as fully paid and will be identical to and will rank pari passu with the Company's existing Ordinary Shares. Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on Thursday 13 October 2016.

The total issued share capital of the Company will increase accordingly from 36,832,106 Ordinary Shares to 36,837,106 Ordinary Shares. The total number of voting rights in the Company is therefore 36,837,106. 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 Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Venture Life Group PLC		[phone]
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)		[phone]
Freddy Crossley/Peter Steel/Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Turner Pope Investments (TPI) Ltd (Joint Broker)		[phone]
James Pope/Ben Turner
Walbrook PR	[e-mail] or  [phone]
Paul McManus/Anna Dunphy	[phone] / [phone]

 

END

 

 

IOEFSWFFWFMSESS