Pan European Terminals PLC Issue of Equity (9528A)
March 27 2013 - 3:00AM
UK Regulatory
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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