Cambria Africa PLC Issue of New Shares (5308N)
01 Oktober 2012 - 8:00AM
UK Regulatory
TIDMCMB
RNS Number : 5308N
Cambria Africa PLC
01 October 2012
Cambria Africa plc
("Cambria" or the "Company")
Issue of New Shares
-- Cambria announces it has raised USD 1,400,000 via the placement of 8,615,115 new ordinary shares
-- The Placing has received support from directors, who subscribed for 22.5% of the offering, as well as
existing shareholders
-- WH Ireland, nominated advisor and broker to the Company, subscribed for 23.8% of the offering
Cambria (AIM:CMB) is pleased to announce that USD 1,400,000
(before expenses), or approximately GBP 860 thousand, has been
raised by a placing with new and existing institutional and other
investors of 8,615,115 new ordinary shares in the Company (the
"Placing Shares").
The placing price was 10 pence per Ordinary Share (the
"Placing"), being the volume weighted average market price on 28
September 2012.
The Placing will provide working capital for the Group's
existing businesses, which will benefit from further investment in
order to sustain their present high growth rates, and will provide
the Company with the ability to continue implementing its
investment strategy.
The Company has received acceptances in respect of the Placing
Shares. The Placing will complete on receipt of cleared funds and
the Company will then make an announcement of the issue of the
Placing Shares and their date of admission to trading on AIM. The
Placing Shares will rank pari passu in all respects with the
Company's existing ordinary shares.
Following issue of the Placing Shares, the Company's issued
share capital will be 66,749,02 ordinary shares. The Placing Shares
will represent approximately 12.9% of the Company's enlarged issued
share capital
The Placing has been conducted amongst new and existing
institutional and other investors, including Russell Investments
Limited ("Russell") who prior to the Placing held 18.6% of the
issued share capital of the Company. Russell will increase its
percentage interest from 18.6% to 19.6% by subscribing for
2,308,000 new ordinary shares in the Company.
Directors of the Company, namely Ian Perkins, Fred Jones, Edzo
Wisman and Tania Sanders have also participated in the Placing.
Prior to the Placing the directors held 1.06% of the issued share
capital of the Company. Following the Placing the Directors
percentage holding will increase from 1.1% to 3.8% as a result of
subscribing for 1,938,030 new ordinary shares in the Company.
The Company's nominated adviser and broker, WH Ireland, has
subscribed for 2,053,845 new ordinary shares.
For the purposes of the AIM Rules for Companies, the
participation of the Directors and Russell is a related party
transaction.
Having consulted with WH Ireland, the nominated advisor to the
Company, the independent non-executive directors of the Company,
being Paul Turner, Paul Heber and Itai Mazaiwana who are neither
participating in the placement nor represent Russell, consider the
terms of the Placing to be fair and reasonable in so far as all the
shareholders of the Company are concerned.
About Cambria Africa plc
Cambria Africa plc, quoted on the AIM market of the London Stock
Exchange, is a long term, active investment company, building a
portfolio of investments primarily in Zimbabwe.
Contacts
========================== ======================
Cambria Africa plc www.cambriaafrica.com
========================== ======================
Ian Perkins +44 (0) 7831 674 585
========================== ======================
Edzo Wisman +263 (0) 4 852 434
========================== ======================
WH Ireland Limited www.wh-ireland.co.uk
========================== ======================
James Joyce / Nick Field +44 (0) 20 7220 1666
========================== ======================
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEGMGFLGGGGZZZ
Cambria Africa (LSE:CMB)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Cambria Africa (LSE:CMB)
Historical Stock Chart
Von Jul 2023 bis Jul 2024