Issue of Equity
18 Januar 2008 - 4:00PM
UK Regulatory
Lennox Holdings PLC
Exercise of Warrants and Issue of Equity
18 January 2008
Lennox Holdings PLC (the 'Company') today announces the issue of 80,000 ordinary
1p shares pursuant to an exercise of warrants.
Following the allotment of the 80,000 new ordinary shares, the Company will have
27,654,652* ordinary shares in issue.
Application has been made for the new ordinary shares to be admitted to trading
on AIM on 24 January 2008.
*Of the 27,574,652 ordinary shares of 1p each, 5,704,108 shares have been
surrendered to the Company pursuant to the terms of 5 deeds of agreement, each
dated 20 June 2006, in compromise and settlement of various claims and disputes.
Of the 5,704,108 ordinary shares which have been surrendered, the Company
considers that 3,779,107 ordinary shares cannot be considered to have been fully
paid, and that in consequence the sanction of the High Court of Justice must be
sought and obtained in order that the capital of the Company might be reduced to
this extent.
As to the remaining 1,925,001 surrendered ordinary shares, these shares were
fully paid up. Whilst the shares were not purchased by the Company out of
distributable profits in accordance with s. 162 of the Companies Act 1985, the
Company considers that the shares are available to be allotted in accordance
with the provisions of the Company's articles of association. However, for the
sake of good order it is the Company's intention that these shares should also
be cancelled in the reduction exercise identified above.
Enquiries:
Nicholas Nelson +44 (0)20 7451 7068
Nexus Financial Limited
Ian Fenn +44 (0)20 7512 0191
Blomfield Corporate Finance Limited
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