Fragrant Prosperity Holdings Ltd Equity Fundraise (6104Q)
01 March 2021 - 6:00PM
UK Regulatory
TIDMFPP
RNS Number : 6104Q
Fragrant Prosperity Holdings Ltd
01 March 2021
1st March 2021
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Fragrant Prosperity Holdings Limited
("FPP" or the "Company")
Equity Fundraise
Fragrant Prosperity Holdings Limited ("Fragrant" or the
"Company") announces it has completed (subject to certain
conditions) an equity fundraise of GBP543,929.61 (gross) (the
"Fundraise") through the issue of 10,360,564 ordinary shares (the
"Fundraise Shares") at a price of 5.25 pence per ordinary
share.
The Fundraise has been undertaken by way of a placing of new
ordinary shares ("Placing") of no par value ("Ordinary Shares") in
the share capital of the Company and was arranged by Optiva
Securities Limited ("Optiva") with its clients. The Fundraise is to
provide additional capital for the Company to pursue its investment
strategy.
The Fundraise has been undertaken by means of the Placing
pursuant to which, the Company will issue 10,360,564 ordinary
shares at a price of 5.25p per new ordinary share ("Issue Price"),
representing a discount of approximately 12.5% to the closing price
of the ordinary shares on 26 February 2021 (being the last
practicable dealing date prior to the pricing of this
transaction).
Craig J. Marshak, chairman of Fragrant, commented as follows:
"this placing provides important additional financing to extend our
search and work effort to identify appropriate acquisition
candidates, in particular in the burgeoning Cannabis and Cannabis
Therapeutics related sectors. In the reasonably near future we
expect to identify at least one additional Director who will add to
the current in depth experience of the existing board to assist
with this search"
Discussions in respect of opportunities that have been presented
to the Company are at a very early stage and no agreement has been
made with any of the relevant target companies or businesses.
Therefore, there is no certainty that any of the current
discussions will progress further and/or result in the Company
concluding a transaction.
Following Admission of the Fundraising Shares, which is expected
to occur at 8.00 am on the 3(rd) March 2021, the total number of
Ordinary Shares in the Company will be 62,223,386. 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 Company under the
FCA's Disclosure and Transparency Rules.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
*Ends*
For more information:
http://www.fragrantprosperityholdings.com/
Fragrant Prosperity Holdings
Limited
Simon Retter/Craig Marshak +44 (0) 20 3137 1902
Broker: Optiva Securities
Vishal Balasingham +44 (0) 20 3137 1903
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END
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