Hume Capital Securities PLC Issue of Equity (9961D)
03 April 2014 - 11:40PM
UK Regulatory
TIDMHUME
RNS Number : 9961D
Hume Capital Securities PLC
03 April 2014
3 April 2014
Hume Capital Securities plc ("Hume" or the "Company")
Issue of Equity
Hume Capital Securities plc (AIM:HUME), the financial services
group offering full service stockbroking, fund management,
corporate advisory and market making services is pleased to
announce that as part of its ongoing strategy to position itself
for sustained growth, the Company has raised GBP250,000 via the
issue of 111,111,111 new ordinary shares of 0.1p each in the
Company ("Ordinary Shares") at 0.225p per share (the
"Placing").
Application has been made for the new Ordinary Shares to be
admitted to trading on AIM and dealings are anticipated to commence
on Friday 4 April 2014.
The Chief Executive's Report in the Company's latest financial
statements announced on 26 February 2014, commented that further
capital strengthening would occur and proceeds of the Placing will
be utilised to strengthen the Company's capital base. In addition,
the Company may utilise some of the proceeds to invest in and
expand its Wealth Management division. Hume's existing relationship
in India with Cholamandalam Securities Ltd, has started to gain
traction in terms of corporate opportunities and the Company is
looking forward to the upcoming launch of the new India Fund. To
complement Hume's partnering in India, the Board is investigating
similar deals in other parts of Asia, specifically Hong Kong and
South East Asia, where it believes significant opportunities
exist.
Following the admission of the new Ordinary Shares to trading on
AIM, the Company will have a total of 2,198,649,149 Ordinary Shares
in issue of which the KB Foundation, via Castle Trust &
Management Services Limited, will be interested in 201,785,714
Ordinary Shares representing approximately 9.18 per cent. of the
Company's issued share capital and the David Taylor Partnership
Limited will be interested in 111,111,111 Ordinary Shares
representing approximately 5.05 per cent. of the Company's issued
share capital.
Enquiries:
Hume Capital Securities plc
Nitin Parekh (Chief Executive Officer) 020 3693 1470
Grant Thornton UK LLP, Nominated Adviser
Philip Secrett /Melanie Frean/ Jamie Barklem 020 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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