Highlands Natural Resources PLC Subscription and Issue of Shares (3067B)
06 June 2019 - 4:01PM
UK Regulatory
TIDMHNR
RNS Number : 3067B
Highlands Natural Resources PLC
06 June 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
6 June 2019
Highlands Natural Resources plc
("Highlands" or the "Company")
Subscription and Issue of Shares
Highlands, the London listed natural resources company, is
pleased to announce that certain members of the Schrader family
have together subscribed for 1,000,000 new ordinary shares in the
Company at a price of 10 pence each. The Schrader family are the
owners of Schrader Oil Co., which operates the convenience stores
that will shortly be stocking Zoetic's retail CBD products. This
positive development aligns the retailer with Zoetic, which is
targeting its first sales this month.
As part of a separate transaction, Highlands also announces the
exercise of 5,000,000 warrants in the Company. The resulting new
ordinary shares have been placed with new investors by Turner Pope
Investments Ltd. These warrants represent all of those awarded to
the management of Zoetic at the time of the formation of that
business. The warrants had an expiry date of 30 June 2019.
The gross proceeds receivable by Highlands pursuant to the
subscription and warrant exercise are GBP525,000 and will be
applied to accelerate the development of Zoetic.
Application will be made for an additional 6,000,000 ordinary
shares in the Company to be admitted to trading on the Official
List of the UK Listing Authority by way of a Standard Listing and
to trading on the London Stock Exchange's Main Market for listed
securities ("Admission"). Admission is expected to take place on 12
June 2019.
Following Admission, the New Ordinary Shares will rank pari
passu in all respects with the existing ordinary shares of 1 pence
each in issue, including the right to receive all dividends and
other distributions declared, and the total number of ordinary
shares in Highlands with voting rights will be 142,483,080. This
figure may be used by Highlands shareholders as the denominator for
calculations to determine if they have a notifiable interest in
Highlands under the Disclosure and Transparency Rules, or if such
interest has changed.
**ENDS**
Enquiries
Highlands Natural Resources plc +1 (0) 303 322 1066
Robert Price
Nick Tulloch
Turner Pope Investments Ltd +44 (0) 20 3621 4120
Lewis Jones/Andy Thacker
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
David Porter
Newgate Communications +44 (0) 20 3757 6880
Elisabeth Cowell
Ian Silvera
Fiona Norman
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 rns@lseg.com or visit www.rns.com.
END
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