Placing and Notice of EGM
06 August 2007 - 5:01PM
UK Regulatory
RNS Number:5433B
Clerkenwell Ventures PLC
06 August 2007
Clerkenwell Ventures PLC
(the "Company")
Placing and Notice of EGM
The Company is pleased to announce that it has raised #25.6 million (gross of
expenses) conditional on the Extraordinary General Meeting ('EGM'), details of
which are set out below.
The Company is actively pursuing a number of acquisition targets in the leisure
sector.
The Company has conditionally placed 341,325,000 ordinary shares (the "Placing
Shares") with institutional and other investors at 7.5p per share (the "Placing
Price"). The Placing Shares are expected to be admitted to AIM and commence
trading on 6 September 2007. Conditional upon the resolution being passed at the
EGM, the Company will be consolidating its share capital at a ratio of 5 to 1 on
11 September 2007. Following the consolidation the entire issued share capital
of the Company will be re-admitted to trading on 12 September 2007. Following
the consolidation and re-admission the total number of ordinary shares of 5p
each in issue will be 82,447,229.
Conditional on the resolution being passed at the EGM and ahead of the
consolidation, David Page and Paul Campbell, both directors of the Company, will
exercise options in the Company to receive 1,000,000 ordinary shares of 1p each
at price of 3p per share. In addition, David Page and Paul Campbell are
subscribing for 1,600,000 Placing Shares each at the Placing Price, leading to a
total investment by the Directors of #300,000, in aggregate. Following
consolidation and the re-admission, David Page and Paul Campbell will be
interested in 1,136,687 and 940,020 ordinary shares of 5p each, representing
1.38% and 1.14% of the then issued share capital, respectively.
The notice of the EGM has been sent to shareholders on 4 August 2007. The EGM is
scheduled to take place on 3 September 2007 at 10:00 am at the offices of
Pinsent Masons, CityPoint, One Ropemaker Street, London EC2Y 9AH.
ENDS
Contacts:
Clerkenwell Ventures
David Page, Non-executive Chairman 07836 346934
Seymour Pierce Limited 020 7107 8000
David Newton/Nicola Marrin
Hogarth PR 020 7357 9477
Julian Walker
This information is provided by RNS
The company news service from the London Stock Exchange
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