Information  X 
Enter a valid email address

Ganapati plc (GPP)

  Print      Mail a friend

Monday 27 April, 2015

Ganapati plc

Results of GM and update on existing placing £250,000


                                                                  27 April 2015

                                 Ganapati Plc                                  
                           ("GPP") or "the Company")                           

          Results of General Meeting, increased par value to 8 pence           
                  and update to existing placing of £250,000                   

Ganapati Plc announces that at the Company's General Meeting ("GM") held on 24
April 2015, all of the resolutions proposed, as set out in the Notice of GM,
were duly passed.

Following the announcement of 7 January 2015, as per the requirement set out in
GXG Main Quote Rules for issuing Companies Rule 4.2, the Company wishes to
announce the following:

 i. Increased par value 8 pence per share
   
To comply with the ongoing requirement for Designated Global Issuer ("DGI"), as
set out in GXG Main Quote Rules for issuing Companies Rule 4.2, the Company has
increased its par value to GB£0.08, and as of effect today, the Existing
Ordinary Shares of GB£0.01 are now trading at the New Ordinary Share price of
GB£0.08. Following the Company's share consolidation, the issued share capital
is 3,191,464 New Ordinary Shares.

ii. Placing of £250,000
   
The existing placing raised in December 2014, for £250,000 (before expense) is
effective today by way of a placing of 625,000 New Ordinary Shares of 8 pence
each, with its shareholder HLMS, at a placing price of 40 pence ("Placing
Price") per New Ordinary Shares ("the Placing"). The placing price is the same
as the closing price of 40 pence on the 27 April 2015, adjusted for the
consolidation. The 625,000 New Ordinary Shares will be admitted to trading on
GXG Main Quote today, 27 April 2015.

Following the share consolidation and the allotment, the issued share capital
of the Company will increase to 3,816,464 ordinary shares of 8 pence each. 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 share capital of the Company under the
Disclosure and Transparency Rules.

The following parties have an interest of more than 3% in the shares of the
Company:

Name                       Number of shares          Percentage holdings       
                                                                               
Equity Midas Inc.          614,144                   16.09%                    
                                                                               
HLMS Inc.                  3,125,000                 81.88%                    

The directors of Ganapati Plc accept responsibility for this announcement.


CORPORATE ADVISER AND CONTACT DETAILS:

Alexander David Securities Limited
David Scott - Chief Executive Officer
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London, EC4N 4SA

a d v e r t i s e m e n t