Monchhichi plc Placing (5560W)
February 10 2017 - 1:00AM
UK Regulatory
TIDMMCC
RNS Number : 5560W
Monchhichi plc
10 February 2017
For immediate release 10 February 2017
Monchhichi Plc
('Monchhichi' or the 'Company')
Placing of 6 million shares at 35p per share to raise GBP2.1
million with warrants
Cash Placing to raise GBP2.1 million
The Company is pleased to announce that it has today raised
GBP2.1 million (before expenses) in cash from existing shareholders
and new investors through a Placing of 6 million new shares at 35p
per share. Following the approval of the Company's new Investing
Policy on 24 January 2017 the net funds raised, combined with the
appropriate equity capital framework, will enable swift
implementation of the Investing Policy.
As part of the placing, 6 million Warrants have been issued to
placees on a 1:1 basis that allow the placees to subscribe for new
shares in the Company at 80p per share for a period up to 24
January 2018.
The Board has and continues to actively consider and pursue a
number of exciting and meaningful investment opportunities within
its new Investing Policy and is hopeful of making progress with at
least one of those over the coming weeks. As soon as is
appropriate, a further update shall be provided to
shareholders.
Issue of equity in settlement of professional and other
costs
In addition, the Company has settled GBP200,000 of outstanding
professional fees and placing commissions through the issue of a
total of 500,000 new ordinary shares at an implied price of 40p per
share.
Application will be made for a total of 6,500,000 new ordinary
shares, which rank pari passu with the Company's existing ordinary
shares, to be admitted to trading on AIM ("Admission"). It is
anticipated that Admission will be effective on 16 February
2017.
Total voting rights
Following admission, the Company's share capital will consist of
43,901,773 ordinary shares with voting rights. The Company does not
hold any ordinary shares in treasury. Therefore, the total number
of voting rights in the Company is 43,901,773. This figure may be
used by shareholders 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 Company under
the FCA's Disclosure Guidance and Transparency Rules.
Commenting on today's announcement, Simon Fry, Executive
Chairman of Monchhichi Plc, said: "We are pleased to have completed
the main internal housekeeping items and welcome our new Monchhichi
shareholders. Our next immediate objective is to implement our
bespoke strategy and clearly demonstrate that through a select
number of meaningful proven investments we will build significant
shareholder value for Monchhichi."
- Ends -
Enquiries: Tel: +44 (0)20 7466
Monchhichi Plc 5000
Simon Fry, Executive Chairman www.monchhichi.life
Panmure Gordon (Nominated Tel: +44 (0)20 7886
Adviser and Broker) 2500
Dominic Morley
Buchanan (Financial communications) Tel: +44 (0)20 7466
Richard Oldworth / Henry Harrison-Topham 5000
monchhichi@buchanan.uk.com www.buchanan.uk.com
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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