PAN Pan European Terminals

TIDMPAN

RNS Number : 9528A

Pan European Terminals PLC

27 March 2013

27 March 2013

Pan European Terminals PLC

("PET" or "the Company")

Issue of Equity

The Company is pleased to announce a subscription for cash (the "Subscription") by Hurley Investment Holdings Limited ("HIHL"), a strategic investor, for 4,500,000 new ordinary shares of 1 pence ("Shares") each at a price of 19.65 pence per Share, to raise GBP884,250 (gross) for the Company. The net proceeds will be used to strengthen the Company's balance sheet and provide additional working capital.

Following the Subscription, HIHL will be interested in 7,675,000 Shares, representing approximately 7.22 per cent. of the Company's enlarged issued share capital.

The new Shares have been issued pursuant to the general authorities approved by shareholders at its 2012 Annual General Meeting.

Application has been made to the London Stock Exchange for the new Shares to be admitted to trading on AIM, and it is expected that admission will become effective and trading will commence on Thursday, 28 March 2013 ("Admission").

Enquiries:

 
 Pan European Terminals plc      Tel: +44 (0)20 3145 1908 
 Simon Escott, Chief Executive   Mob: +44 (0) 972 009 5800 
 
 Westhouse Securities Limited    Tel: +44 (0)20 7601 6000 
 Richard Johnson / Antonio 
  Bossi 
 

Following Admission, the Company will have 106,325,110 Shares in issue. The Company does not hold any Shares in treasury. This figure of 106,325,110 Shares 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 FSA's Disclosure and Transparency Rules.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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