Tanfield Group PLC Issue of shares (7528A)
May 31 2019 - 4:08AM
UK Regulatory
TIDMTAN
RNS Number : 7528A
Tanfield Group PLC
31 May 2019
Tanfield Group PLC
("Tanfield" or the "Company")
Issue of shares
Tanfield announces that it has raised a total of GBP225,000
through the placing of 4,500,000 ordinary shares of 5p each (the
"Placing Shares") at a price of 5p per share (the "Placing") from
existing investors. The placing price represents a discount of
approximately 4% on the closing market share price of 5.22p on 28
May 2019. The funds will be used to meet the ongoing running costs
of the Company.
The Placing Shares will be credited as fully paid and will rank
pari passu in all respects with the existing ordinary shares of 5p
each ("Ordinary shares") in the capital of the Company, including
the right to receive all dividends and other distributions
declared, made or paid in respect of such shares after the date of
issue of the Placing Shares.
It is expected that the Company will apply for admission of the
Placing Shares to trading on AIM, a market operated by the London
Stock Exchange plc (the "Admission") and that Admission will take
place and that trading in the Placing Shares will commence on or
around 6 June 2019. The Placing is conditional upon Admission
becoming effective.
Following Admission, the Company's enlarged issued share capital
will comprise 162,906,850 Ordinary Shares. The Company holds no
shares in treasury. Therefore the total number of Ordinary Shares
with voting rights is 162,906,850, which 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 in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
For further information:
Tanfield Group Plc 020 7220 1666
Daryn Robinson
WH Ireland Limited - Nominated Advisor / Broker
James Joyce / Lydia Zychowska 020 7220 1666
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END
IOELIFIAERILVIA
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