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TIDMERE
RNS Number : 3082G
Eredene Capital PLC
10 May 2011
Date: 10 May 2011
On behalf of: Eredene Capital PLC ("Eredene" or the "the
Company")
For immediate release
Eredene Capital PLC
Result of EGM
Eredene Capital PLC (AIM: ERE), a leading AIM quoted investor in Indian ports, logistics and transport infrastructure, announces that all resolutions proposed at the Company's General Meeting held today were duly passed, including the approval of the Placingof 166,666,667 New Ordinary Shares at a price of 18 pence per share to raise GBP30 million before expenses (the "Placing").
It is intended that the majority of the proceeds will be used to fund Eredene's commitment to the development of Ennore Container Terminal and other potential pipeline projects in India.
Full details of the Placing were set out in a circular sent to shareholders on 21 April 2011. Application has been made for a total of 166,666,667 New Ordinary Shares to be issued pursuant to the Placing to be admitted to trading on AIM. Admission and dealing is expected to occur at 8.00 a.m. on 12 May 2011.
Following the admission of the 166,666,667 ordinary shares on 12 May 2011 the Company's total issued share capital will be 446,906,698 ordinary shares of 10p each. This figure (446,906,698 ordinary shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
Eredene Capital PLC Tel: +44 20 7448 8000
Alastair King / Brian Mooney www.eredene.com
Numis Securities Limited Tel: + 44 20 7260 1000
Heraclis Economides / David
Benda
Redleaf Communications Tel: + 44 20 7566 6700
Samantha Robbins / Luis Mackness eredene@redleafpr.com
About Eredene Capital PLC
-- Eredene Capital PLC is a leading UK-based AIM quoted investor in infrastructure projects in India. It focuses primarily on ports, port services, logistics and distribution warehouses.
-- The Eredene Group has announced investments in eleven projects in India - nine in ports and port services, logistics and distribution warehouses, one in IT offices and one in a large scale, affordable housing development. Six of its investee companies are revenue generating and a seventh is taking sales deposits. Two of them are profitable and dividend paying.
-- Eredene trades on the Alternative Investment Market (AIM) of the London Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
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