Monreal PLC Board Changes, Placing and Total Voting Rights (9707C)
January 25 2018 - 9:48AM
UK Regulatory
TIDMMORE
RNS Number : 9707C
Monreal PLC
25 January 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN MONREAL PLC OR ANY OTHER ENTITY IN
ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS
DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF MONREAL PLC.
MEMBERS OF THE PUBLIC SHALL NOT BE ELIGIBLE TO TAKE PART IN THE
PROPOSED PLACING, WHICH IS TO BE LIMITED TO PERSONS SELECTED BY
PETERHOUSE CORPORATE FINANCE LIMITED AND WHO CONFIRM THEIR
PARTICIPATION BY ENTERING INTO A PLACING CONFIRMATION LETTER WITH
PETERHOUSE CORPORATE FINANCE LIMITED AS AGENT OF THE COMPANY IN A
PRESCRIBED FORM.
For immediate release
25 January 2018
Monreal plc
("Monreal" or the "Company")
Board Changes, Placing and Total Voting Rights
Board Changes
Monreal is pleased to announce the appointment of Mr John Treacy
to the Board as a Non-Executive Director and Chairman with
immediate effect. Mr Treacy is an experienced small cap financier
who specialises in working with growing companies. He qualified as
a solicitor in the London office of a major international law firm
where he specialised in Capital Markets and Mergers &
Acquisitions. From there he moved to practise corporate finance in
the advisory teams of several prominent UK brokerages where he was
a Qualified Executive for the purposes of the AIM Rules and acted
on numerous IPOs, acquisitions, debt restructurings and
placings.
Following the successful restructuring of the Company, and in
view of the changed focus of the business, David Pickering and
Richard Day will resign as Non-Executive Directors of the Company
with effect from today. The Company thanks David and Richard for
their service to the business and wishes them the very best for the
future. Following these changes the Company's Board now
comprises:
John Treacy, Non-Executive Chairman
Martin Groak, Finance Director
Placing
In addition, the Company is pleased to announce that its Broker,
Peterhouse Corporate Finance Limited, has raised GBP675,000 before
expenses by way of a placing of 270,000,000 ordinary shares of 0.25
pence each in the Company (the "Ordinary Shares") at a price of
0.25 pence per Ordinary Shares (the "Placing Shares") (the
"Placing").
The Placing is subject only to admission of the Placing Shares,
for which an application is now being made, to trading on AIM
becoming effective on or around 31 January 2018 (the "Admission").
On Admission, the Placing Shares will rank pari passu with the
Company's existing Ordinary Shares.
Total Voting Rights
Following completion of the Placing, the Company will have
540,166,760 Ordinary Shares in issue with voting rights. This
figure may then be used by Shareholders in the Company as the
denominator for the calculation 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
Conduct Authority's Disclosure Guidance and Transparency Rules.
Further AIM disclosures relating to Mr Treacy's appointment and
Board changes
Further disclosures on Mr Treacy as required under Schedule Two,
paragraph (g) (i)-(viii) of the AIM Rules for Companies are as
follows. John Michael Treacy (age 36), has held the following
directorships and/or partnerships in the past five years:
Current: Past:
Central Rand Gold Limited China Sports Development
Limited
As at the date of this announcement, Mr Treacy does not have any
interest in any ordinary shares of the Company. There is no further
information to be disclosed in relation to Mr Treacy's appointment
pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM
Rules for Companies.
Each of David Pickering and Richard Day have agreed to provide
consulting services to the Company to assist with the orderly
management transition of the Company for a period of three months
from the date of their resignation as directors for a total payment
of GBP12,000 each.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014. The person who arranged for the
release of this announcement on behalf of the Company was Martin
Groak, Director.
The Market Abuse Regulation ("MAR") became effective from 3 July
2016. Market Soundings, as defined in MAR, were taken in respect of
the proposed Placing with the result that certain persons became
aware of inside information, as permitted by MAR. That inside
information is set out in this announcement and has been disclosed
as soon as possible in accordance with paragraph 7 of article 17 of
MAR. Therefore, those persons that received inside information in a
Market Sounding are no longer in possession of inside information
relating to the Company and its securities.
Further enquiries:
Monreal plc John Treacy +44 (0) 20 7469
Martin Groak 0930
info@monrealplc.com
Beaumont Cornish Limited Roland Cornish +44 (0)20 7628
(Nominated Adviser) Michael Cornish 3396
www.beaumontcornish.co.uk
Peterhouse Corporate Heena Karani +44 (0) 20 7469
Finance Limited (Broker) Lucy Williams 0930
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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