St James House PLC Update on Subscription (3661H)
24 March 2020 - 9:30PM
UK Regulatory
TIDMSJH
RNS Number : 3661H
St James House PLC
24 March 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
24 March 2020
ST. JAMES HOUSE PLC
("SJH", the "Group" or the "Company")
Update on Subscription
The Company announced on 12 March 2020 that the monies due on
the previously announced (31 January 2020) binding agreement for
the subscription for 1.666,667 ordinary shares of 1p each in the
capital of the Company ("Ordinary Shares") at a price of 30 pence
per Ordinary Share (the "Transaction Price") to raise a total of
GBP500,000 (the "Subscription"), had not been received. The
Subscription had been agreed with Auxilum Investere SJ Ltd, a UK
company controlled by Michael and Linda Peters ("AIS"). A further
delay has been caused by the difficulties in international travel
and communication. Accordingly, the Board has agreed an extension
to the agreement with AIS, the monies now being due no later than
30 April 2020. The personal surety provided by Mr Peters remains in
place under this extension. No Ordinary Shares have been issued
under the Subscription and will not be issued until cleared funds
are received.
The effects of the COVID19 pandemic means that Astro Kings, the
Nottingham based five-a-side football centre which the Group owns a
minority interest, has temporarily stopped operating from 20 March
2020 in line with government guidelines - this will have no
material financial impact on the Group.
The core Group businesses of payment services and lottery
administration are working as normal and are well suited to home
working and all employees are equipped to do so. Trading
performance remains in line with that announced on 28 February
2020.
For further information, contact:
St. James House PLC
Roger Matthews
Website www.sjhplc.com 020 3655 5000
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss 020 3328 5656
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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