Issue of Equity
September 16 2009 - 7:43AM
UK Regulatory
TIDMIHGP
For Immediate Release 16 September 2009
IN HOUSE GROUP PLC ("In House" or the "Company")
ISSUE OF EQUITY
The Company announces that, today, further to the announcement made on 3 July
2009 the Company has received a third tranche on the placing of GBP50,000 and
hence has issued 714,286 Ordinary Shares at 7p per share, being the equivalent
collar price following the share consolidation announced on 24 August 2009.
These funds will be used to settle outstanding creditors, provide additional
working capital and finance upgrades to some of the Group's property stock to
enhance its rental yield and realisable value.
In addition, the placees have also been granted warrants on a one for one
basis, priced at the same price as the shares to which they relate, namely 7p
per warrant, exercisable at any date up to 30 June 2012.
As a consequence of the share issue Tahir Khaliq will hold 5.43% of the shares
in the Company being 354,047 Ordinary Shares, UEB Consulting will hold 5.48% of
the shares in the Company being 357,143 Ordinary Shares and Aryeh Ehrentreu
will increase his holding to 1,417,424 Ordinary Shares representing a
shareholding of 21.76%, of the Company's then issued share capital.
Please note that Aryeh Ehrentreu's new holding is after taking in to account
the disposal, by Graf Commercial Services, a company of which he is a
beneficiary, of 180,000,000 pre-consolidation Ordinary Shares at a price of
0.004p per Ordinary Share on 10 February 2009. The Company was only notified of
this disposal on 11 September 2009.
Application has been made for the 714,286 new Ordinary Shares, which will rank
pari passu with the existing Ordinary Shares, to be admitted to trading on AIM
and trading is expected to commence on 22 September 2009. As a result the
Company's enlarged issued share capital will be 6,515,243 Ordinary Shares.
Contact: Marcus Cassidy, In House Group Plc on 0845 061 9999
mcassidy@ihgroup.co.uk
Roland Cornish, Beaumont Cornish Limited,
0207 628 3396
END
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