Zoetic Interntnl PLC

Issue of Shares

RNS Number : 9583T
Zoetic International PLC
31 March 2021
 

For immediate release

31 March 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310  

 

Zoetic International plc

('Zoetic' or the 'Company')

 

Issue of Shares

Holding in Company

 

Zoetic, the international CBD group, has received an exercise notice from Mr John Story to exercise today the full conversion rights on the £330,000 convertible loan note issued by the Company, originally announced on 12 February 2020 (the "Loan Note").  The Loan Note was convertible at a price of 6 pence per ordinary share of 1 pence each ("Ordinary Shares"), and was capable of exercise by Mr Story, in his sole discretion, at any time.  As a result, the Company has today issued 5,500,000 new Ordinary Shares to Mr Story (the "Conversion Shares") and the liability of the Loan Note has been extinguished.

 

Application will be made to the London Stock Exchange for the Conversion Shares to be admitted to trading on the Main Market of the London Stock Exchange and the Standard Segment of the FCA Official List (" Admission ").  It is expected that Admission will become effective and that dealings in the Conversion Shares on the Main Market of the London Stock Exchange will commence on or around 7 April 2021.

 

On Admission, the Company will have 202,070,034 Ordinary Shares in issue, each with one voting right.  There are no shares held in treasury.  Therefore, the Company's total number of Ordinary Shares and voting rights will be 202,070,034 and this figure may be used by shareholders from Admission 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 Guidance and Transparency Rules.

 

Following Admission, and to the best of the Company's knowledge, Mr Story will have a total interest in 27,512,221 Ordinary Shares, equivalent to the 13.62 per cent of issued Ordinary Shares.  Mr Story has agreed not to dispose of the Conversion Shares for a period of one year from today (the "Period"), unless the Ordinary Shares trade at a minimum mid-market closing price for 10 consecutive trading days of not less than 480p at any point during the Period.

 

- Ends -

 

Publication on website

 

A copy of this announcement is also available on the Group's website at   www.zoeticinternational.com

 

 

Media enquiries:

Zoetic International plc

c/o Buchanan

Trevor Taylor, Co-CEO

Antonio Russo, Co-CEO

 

 



 

Allenby Capital Limited (Financial Adviser and Broker)

+44 (0) 20 3328 5656

Nick Harriss (Corporate Finance)

 

Nick Naylor (Corporate Finance)

 

Guy McDougall (Equity Sales)

 

 

Buchanan

 

Henry Harrison-Topham / Jamie Hooper / Ariadna Peretz

Tel: +44 (0) 20 7466 5000

[email protected]

www.buchanan.uk.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEKBLBXFXLZBBB