RM2 International SA Result of Open Offer (5866R)
June 15 2018 - 8:09AM
UK Regulatory
TIDMRM2
RNS Number : 5866R
RM2 International SA
15 June 2018
15 June 2018
RM2 International S.A.
Result of Open Offer
RM2 International S.A. ("RM2" or the "Company"), the sustainable
smart pallet innovator, is pleased to announce the results of the
Open Offer launched and announced on 21 May 2018, which closed for
acceptances at 11.00 a.m. on 5 June 2018. Valid applications have
been received in respect of 142,862,073 new ordinary shares of
USD0.01 in the Company ("Ordinary Shares"), representing
approximately one-third of new Ordinary Shares available under the
Open Offer and raising gross proceeds of approximately GBP1.43m.
63,256,682 new Ordinary Shares were applied for under Qualifying
Shareholders' Basic Entitlements and applications were received in
respect of 79,605,391 new Ordinary Shares under the Excess
Application Facility.
Admission to Trading on AIM and Total Voting Rights
Application has been made for 142,862,073 new Ordinary Shares,
issued via the Open Offer, to be admitted to trading on AIM
("Admission"). It is expected that Admission and commencement of
dealings in these new Ordinary Shares will occur at 8.00 a.m. on 18
June 2018. Following Admission, the Company's issued share capital
is comprised of 5,001,781,964 Ordinary Shares, of which 2,916,334
Ordinary Shares are held by the Company as non-voting treasury
stock ("Treasury Shares").
The total number of voting rights in the Company is calculated
as the number of outstanding Ordinary Shares, less the Treasury
Shares, less the Ordinary Shares not able to be voted on due to
restrictions applicable to certain holders as specified in the
Company's Articles of Association, which results in a total voting
rights figure of 3,434,380,332. Shareholders may use this figure of
3,434,380,332 as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change of their interest in, the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
Kevin Mazula, CEO of RM2 International S.A., commented:
"We are pleased with the strong response we have seen from our
wider shareholder base following the launch of our open offer and
view this as a vote of confidence in the Company. ELIoT smart
pallets bring transformational changes to our customers' supply
chains and are the principal focus of our resources. And we
continue to reduce non value-add spending. Our plan, properly
funded and executed, is expected to allow us to achieve positive
EBITDA in 2019."
Unless defined above, capitalised terms are as per the
Definitions section at the end of the Company's announcement titled
"Launch of Open Offer" of 21 May 2018.
For further information:
+44 (0)20 7638
RM2 International S.A. 9571
Kevin Mazula, Chief Executive Officer
Jean-Francois Blouvac, Chief Financial
Officer
Strand Hanson Limited (Nominated +44 (0)20 7409
& Financial Adviser and Broker) 3494
James Spinney / Ritchie Balmer /
James Bellman
Citigate Dewe Rogerson (Financial +44 (0)20 7638
PR) 9571
Simon Rigby / Ellen Wilton
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
Notes to Editors
RM2 International S.A. specialises in pallet development,
manufacture, supply and management to establish a leading presence
in global pallet supply and improve the supply chain of
manufacturing and distribution businesses through the effective and
efficient use and management of composite pallets. It is quoted on
the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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