Disposal
January 22 2010 - 6:03AM
UK Regulatory
TIDMMOLE
RNS Number : 9895F
Molectra Group Ltd
22 January 2010
22 January 2010
Molectra Group Ltd
("Molectra" or "the Company")
Completion of Disposal of Molectra Australia and name change
Further to the announcements by the Company on 23 December 2009 and 13 January
2010, Molectra is pleased to announce the completion of the disposal (the
"Disposal") of the business and assets of its operating subsidiary, Molectra
Australia Pty Ltd. ("Molectra Australia").
In consideration for the Disposal, Molectra will receive 26,924,213 Molectra
ordinary shares of no par value, which will be cancelled.
The corporate entity of Molectra Australia has itself been retained. The Company
will attempt to sell Molectra Australia to a third party for the potential tax
losses in that company. If this does not prove possible, it is intended that
Molectra Australia will be liquidated.
Name change to Baylon Holdings Limited
Further to completion of the Disposal the Company will change its name to Baylon
Holdings Limited, all other Company's details remain unchanged including its
ISIN code (GB00B0T2CP59) and its AIM symbol (MOLE).
Total Voting Rights
Following cancellation of the 26,924,213 Molectra ordinary shares, the total
number of issued ordinary shares in the Company will be 146,300,787 ordinary
shares. The Company does not hold any ordinary shares in treasury. This figure
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 to their interest in, the share capital of the Company
under the Financial Service Authority's Disclosure and Transparency Rules.
For further information please contact:
+-------------------------------------+-------------------------------------+
| Molectra Group Limited | |
| Paul Gazzard | 01725 510 383 |
| Rodger Sargent | 020 7355 7662 |
| | |
+-------------------------------------+-------------------------------------+
| Arbuthnot Securities Limited | 020 7012 2000 |
| Antonio Bossi | |
| Ed Groome | |
| | |
+-------------------------------------+-------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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