Qihang Equipment Co

Further re Resumption of Trading on AIM

RNS Number : 5276D
Qihang Equipment Company Limited
29 January 2015
 

Qihang Equipment Company

Further regarding Placing, Change of Name and Resumption of Trading on AIM

 

Further to the announcement of 23 January 2015, the directors of Qihang Equipment Company Limited ("Company") are pleased to announce that the Company, under its new name Eastbridge Investments Plc, will be restored to trading on AIM with effect from 08:00 on 30 January 2015.

The Company was suspended from trading on 30 September 2014 as a result of not being able to comply with the requirement of the AIM Rules for Companies to publish its unaudited interim results for the six months ended 30 June 2014.  At the time of its suspension the Company had 58,036,263 ordinary shares of 2.5p ("Ordinary Shares") each in issue.

On 23 December 2014 the Company announced a proposal to dispose of its operating business and in connection with this it issued 2,000,000 further Ordinary Shares for cash to provide interim financing whilst a general meeting was held.

On 9 January 2015 the general meeting approved the disposal of the Company's operating business, the sub-division of each Ordinary Share into 1 ordinary share of 0.01p each ("New Ordinary Shares") and 1 deferred share 0f 2.49p each ("Deferred Shares").  The consideration for the disposal was the return of 51,325,737 New Ordinary Shares to the Company by the original owners of the Company's operating businesses.

On 23 January 2015 the Company announced the delayed unaudited interim accounts for the six months ended 30 June 2014.  At the same time, a placing of 78,071,429 New Ordinary Shares and issue of convertible loan notes amounting to, in aggregate, £225,000 was announced along with the conversion of existing convertible loan notes and corporate debt into a total of 58,532,688 New Ordinary Shares.

As a result of these actions, the Company has applied for a total of 196,640,380 ordinary shares of 0.01p each to be admitted to trading on AIM under the name Eastbridge Investments Plc (ticker EBIV) with effect from 30 January 2015.  No application will be made for the Deferred Shares to be admitted to trading on AIM or any other market. 

The Company holds 51,325,737 New Ordinary Shares in treasury and accordingly the total number of voting rights in the Company at admission will be 145,314,643.  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 Eastbridge Investments Plc under the FCA's Disclosure and Transparency Rules.

Enquiries:

Mark Chapman, Chairman

 

Tel: 01483 892130

 

Nominated Adviser

Northland Capital Partners Limited

William Vandyk / Matthew Johnson

 

Tel: 020 7382 1100

Broker

Peterhouse Corporate Finance

Fungai Ndoro/ Lucy Williams

 

Tel: 020 7469 0930

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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