Draganfly Investments Ltd Fundraising (4541E)
May 08 2017 - 3:11AM
UK Regulatory
TIDMDRG
RNS Number : 4541E
Draganfly Investments Ltd
08 May 2017
8 May 2017
Draganfly Investments Limited
("Draganfly" or the "Company")
Fundraising
The Board of Draganfly announces that the Company has raised
GBP500,000 before expenses, by way of a placing ("Placing") of
100,000,000 new ordinary shares of no par value in the Company
("Ordinary Shares") (the "Placing Shares") at a price of 0.5 pence
per share.
Edward Bayman, Chairman, stated "We are pleased to welcome this
investment from new and existing shareholders as we seek to build
shareholder value in the Draganfly Investments vehicle."
The Placing Shares will rank pari passu with the existing
Ordinary Shares and their issue is conditional on their admission
to trading on AIM ("Admission"). Application will be made for the
Placing Shares to be admitted to trading on AIM and Admission is
expected to occur on or around 22 May 2017.
One of the placees, Pelamis Investments Limited, is a 11.26%
shareholder in the Company, and so the Placing with them is deemed
a related party transaction under the Aim Rules for Companies. The
Directors of the Company, all of whom are independent, having
consulted with Northland Capital Partners Limited, consider the
terms of the Placing with Pelamis to be fair and reasonable insofar
as shareholders in the Company are concerned.
The Company currently has 69,356,437 Ordinary Shares in issue.
Following Admission, the Company's issued share capital will
consist of 169,356,437 Ordinary Shares with voting rights. There
are no Ordinary Shares held in treasury therefore this number 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 in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 of the European Parliament
and of the Council.
For further information please contact:
T Edward G Bayman +44 (0) 1534 787898
Dennis Edmonds +44 (0) 7796 338 372
Jon Belliss
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Tom Price / David Hignell
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
This information is provided by RNS
The company news service from the London Stock Exchange
END
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