Alexander David Securities Grp PLC FCA Approval & Issue of Equity (2885K)
27 July 2013 - 12:32AM
UK Regulatory
TIDMADS
RNS Number : 2885K
Alexander David Securities Grp PLC
26 July 2013
26 July 2013
Alexander David Securities Group plc
(the "Company")
FCA Approval, Issue of Equity
FCA Approval
Further to the announcement made on 8 July 2013, the board of
the Company announces that it has now received approval from the
Financial Conduct Authority ("FCA") for the ADHL Share
Transfer.
The Proposals, as set out in the circular sent to shareholders
on 21 June 2013, will therefore come into effect upon admission of
the Placing Shares to trading on AIM, for which application has
been made and which is expected to occur on 30 July 2013,
namely:
- the Investing Policy;
- the Conversion of Preference Shares into Ordinary Shares and New Deferred Shares;
- the Capital Reorganisation;
- the sale of the PCB Business;
- the ADHL Share Transfer;
- the Placing;
- the appointment of Peterhouse Corporate Finance as broker to the Company; and
- the resignation of the incumbent board members and appointment
of Mr Trevor Wells and Mr Shahed Mahmood as Non-Executive Chairman
and Non-Executive Director of the Company respectively.
The change of the Company's name to Mercer Resources plc
(AIM:MCR), will become effective shortly after admission of the
Placing Shares and upon the registration of the change of name at
Companies House. A further announcement will be made in due
course.
Issue of Equity
The Company is pleased to announce that, following further
demand from professional investors, the Company has, in addition to
the Placing Shares, issued a further 3,844,444 new ordinary shares
of GBP0.001 each in the Company at the Placing Price, raising a
further GBP34,600. Application for admission of these additional
new ordinary shares to AIM has been made and this is expected to
occur on 30 July 2013.
Pursuant to the above, the issued share capital of the Company
comprises 64,479,136, Ordinary Shares of GBP0.001 each.
All terms in this announcement have the same meaning as in the
circular published by the Company on 21 June 2013.
For further information please see www.ad-securities.com or
contact:
Michael Hicks, Chairman
David Scott, Chief Executive Alexander David Securities Group plc 020 7448 9800
Nominated Adviser
James Caithie/Avi Robinson Cairn Financial Advisers LLP 020 7148 7900
Broker
Charles Goodfellow/Heena Karani Peterhouse Corporate Finance Limited 020 7469 0932
This information is provided by RNS
The company news service from the London Stock Exchange
END
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