Uvenco UK plc Equity Subscription and Reward Loan (9975P)
24 November 2016 - 6:00PM
UK Regulatory
TIDMUVEN
RNS Number : 9975P
Uvenco UK plc
24 November 2016
24 November 2016
Uvenco UK plc
Equity subscription and Reward Loan
Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces
that, further to the Company's announcement of 15 August 2016,
certain directors and senior management of the Company have agreed
to subscribe in aggregate for 1,666,667 new ordinary shares of 2p
each in the Company ("Ordinary Shares") at 6p per share, to raise
GBP100,000 ("Equity Subscription"). Directors' participations are
as follows:
Director New Ordinary Resultant % of enlarged
Shares shareholding issued share
capital
Jeremy Hamer 250,000 1,969,967 2.58%
Boris Belotserkovsky 916,667 2,533,067 3.31%
Michael Jackson 250,000 2,031,971 2.66%
As previously notified the Equity Subscription will enable the
Company to draw down an additional GBP100,000 from the debt
facility provided by Reward Invoice Finance Limited ("Reward"),
taking the total facility to GBP1.3 million and which will be fully
drawn.
The Company is also in the process of negotiating a cash loan of
up to GBP200,000 from a company connected with Boris Belotserkovsky
and Sergei Kornienko, directors of Uvenco. A further announcement
will be made in due course.
Additionally, the Company notifies that 200,000 new Ordinary
Shares are being issued at 6p per share to Michael Maltby, the
Company's previous interim CFO, in lieu of remuneration for
consultancy services previously provided to the Company.
Sergei Kornienko, CEO of Uvenco, stated: "The additional funding
is a vote of confidence in the success of management's turnaround
and will allow us to continue to restructure and drive the
profitability of the business."
Concert Party shareholdings
Boris Belotserkovsky is a member of the Belotserkovsky Concert
Party (as described in the Company's circular dated 10 October
2014). Following the Equity Subscription the holdings of the
members of the Belotserkovsky Concert Party are set out below:
Current
shareholding Resultant shareholding
------------------- -------------- ------- -------------------------
Concert Party
B Belotserkovsky* 1,616,400 2.19% 2,533,067 3.31%
V Belotserkovsky 11,843,616 16.03% 11,843,616 15.49%
Unicum Limited 2,300,000 3.11% 2,300,000 3.01%
S Kornienko* 600,000 0.81% 600,000 0.78%
Versatel Limited 23,800,000 32.21% 23,800,000 31.13%
Oleg Chulkov - - - -
Gillian White 50,000 0.07% 50,000 0.07%
40,210,016 54.42% 41,076,683 53.79%
============== ======= =============== ========
* Denotes a director of the
Company
Total Voting Rights and admission of New Ordinary Shares to
trading on AIM
Application will be made to the London Stock Exchange for
1,866,667 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that admission will become effective
on 30 November 2015. Therefore, the total number of Ordinary Shares
in issue following Admission will be 76,464,119 Ordinary Shares.
The figure of 76,464,119 Ordinary Shares may be used by
shareholders in the Company 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 share capital of
the Company under the Disclosure Guidance and Transparency
Rules.
Enquiries
Uvenco UK plc Tel No. 020 8879 8300
Sergei Kornienko
Peter Goodman
Stockdale Securities Tel No. 020 7601 6100
Tom Griffiths
Richard Johnson
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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