Pires Investments PLC Issue of Equity (2338Q)
November 28 2016 - 1:00AM
UK Regulatory
TIDMPIRI
RNS Number : 2338Q
Pires Investments PLC
28 November 2016
Pires Investments plc
("Pires" or the "Company")
Issue of equity
Pires is pleased to announce that the Company's broker,
Peterhouse Corporate Finance Limited ("Peterhouse"), in response to
further investor demand, has raised GBP150,000 gross of expenses,
for the Company, through the issue of 5,000,000 new ordinary shares
in the Company ("Placing Shares") at a placing price of 3 pence per
Placing Share (the "Placing"). The placing price represents the
closing price per ordinary share at the close of business on 25
November 2016, being the latest business day prior to this
announcement.
Placees will also receive one warrant for every two placing
shares subscribed for. The warrants have an exercise price of 4.25
pence each, and are exercisable for a period of 18 months from the
date of issue, the last exercise date being 25 May 2018.
The Proceeds of the Placing are to be used to provide the
Company with additional funds for working capital and
investments.
Application is being made for the Placing Shares to be admitted
to trading on AIM and such Admission is expected to occur on or
around 1 December 2016. The placing shares will, on issue, rank
pari passu with the Company's existing ordinary shares.
Following Admission, the total number of voting shares in the
Company will be 33,900,803 and shareholders may use this figure as
the denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change of
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Guidelines.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Pires Investments plc
Peter Redmond, Director
John May, Director Tel: 020 7580 7576
Cairn Financial Advisers
LLP
Liam Murray, Tony Rawlinson Tel: 020 7213 0880
Peterhouse Corporate Finance
Duncan Vasey, Lucy Williams Tel: 020 7469 0930
This information is provided by RNS
The company news service from the London Stock Exchange
END
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