Acorn Growth PLC Proposed acquisitions & issue of shares at 17p (9871B)
08 April 2017 - 2:26AM
UK Regulatory
TIDMACO
RNS Number : 9871B
Acorn Growth PLC
07 April 2017
7 April 2017
Acorn Growth Plc
("Acorn" or the "Company")
Proposed acquisitions and issue of shares at 17p per share
The directors of the Company (the "Directors") announced on 28
March 2017 that the Company had entered into letters of intent to
acquire, subject to contract, several properties in Germany (the
"Properties") in accordance with its published investment strategy
(the "Acquisition"). The vendors of those properties (the
"Vendors") are: Dolphin Capital 112 Projekt GmbH & Co. KG;
Dolphin Capital 192 Projekt GmbH & Co. KG; Dolphin Capital 126
Projekt GmbH & Co. KG; and Dolphin Capital 214 Projekt GmbH
& Co. KG.
The Company has now established special purchase vehicles (being
German limited partnerships that are ultimately wholly owned by the
Company) to acquire the Properties. The Directors are pleased to
announce that these special purpose vehicles have also now entered
into conditional purchase agreements in respect of the
Properties.
The Company has agreed with the Vendors that the consideration
payable for the Properties under each conditional purchase
agreement will be satisfied by the issue of new ordinary shares in
the Company at a price of 17p per share (the "Consideration
Shares"). Completion of the Acquisition is conditional upon, inter
alia, the admission of the Consideration Shares. The Company has
convened a shareholder general meeting (the "General Meeting") to
be held at No. 1, London Bridge, London SE1 9BG at 10.00am on 24
April 2017 at which resolutions will be put to the Company's
shareholders to approve, inter alia, the issue of further shares in
the Company, including the Consideration Shares.
Enquiries:
Acorn Growth PLC
Keith Lassman of Howard Kennedy +44 (0)20
LLP (the Company's lawyers) 3755 5561
Peterhouse Corporate Finance
Limited +44 (0) 20 7220
Lucy Williams / Duncan Vasey 9797
This information is provided by RNS
The company news service from the London Stock Exchange
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