AIM Sch 1 Update - Ambrian Plc (3515I)

TIDMAMBR

RNS Number : 3515I

AIM

24 March 2015

 
                      ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR 
                       TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM 
                               RULES FOR COMPANIES ("AIM RULES") 
---------------------------------------------------------------------------------------------- 
 
 COMPANY NAME: 
---------------------------------------------------------------------------------------------- 
 
   Ambrian plc ("Ambrian", the "Company" or, together 
   with its subsidiaries, the "Ambrian Group") 
---------------------------------------------------------------------------------------------- 
 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, 
  COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : 
---------------------------------------------------------------------------------------------- 
 
   6th Floor 
   62-64 Cornhill 
   London 
   EC3V 3NH 
---------------------------------------------------------------------------------------------- 
 COUNTRY OF INCORPORATION: 
---------------------------------------------------------------------------------------------- 
 
   England and Wales 
---------------------------------------------------------------------------------------------- 
 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION 
  REQUIRED BY AIM RULE 26: 
---------------------------------------------------------------------------------------------- 
 
   www.ambrian.com 
---------------------------------------------------------------------------------------------- 
 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) 
  OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS 
  OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT 
  AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, 
  THIS SHOULD BE STATED: 
---------------------------------------------------------------------------------------------- 
 
   Ambrian is a London-based international metal trading 
   business whose activities are focused on the physical 
   trading of LME base metals - principally copper 
   and also lead, zinc and aluminium. These are mainly 
   sourced in China, Africa, Russia and India and sold 
   to customers in Middle East, China and East Asia. 
   The Company currently employs 33 people in London, 
   Shanghai, Taiwan and Singapore. 
 
   Pursuant to the Acquisition (as defined in the Admission 
   Document), which constitutes a reverse takeover 
   for the purpose of Rule 14 of the AIM Rules for 
   Companies, Ambrian will acquire an interest in Cimentos 
   de Beira Limitada ("CdB"), which is engaged in the 
   development of a clinker grinding and cement packing 
   operation in Beira, Mozambique with an expected 
   installed capacity of 110 tonnes per hour or approximately 
   800,000 tons per annum. 
---------------------------------------------------------------------------------------------- 
 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY 
  RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. 
  where known, number and type of shares, nominal 
  value and issue price to which it seeks admission 
  and the number and type to be held as treasury shares): 
---------------------------------------------------------------------------------------------- 
 
   111,361,208 ordinary shares of GBP0.01 each of which 
   4,500,058 will be held in treasury 
 
   Note: A total of up to 194,142,046 further ordinary 
   shares may be issued to CGM Shareholders in consideration 
   for the Acquisition (both terms as defined in the 
   Admission Document). 
---------------------------------------------------------------------------------------------- 
 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) 
  AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: 
---------------------------------------------------------------------------------------------- 
 
   No capital to be raised on admission. 
 
   Market capitalisation was GBP12.95 million as at 
   close of business on 23 March 2015. 
 
   Assuming all additional ordinary shares referred 
   to above are issued in consideration for the Acquisition, 
   the implied market capitalisation is GBP35.53 million 
   (based on the Ambrian share price at close of business 
   on 23 March 2015). 
---------------------------------------------------------------------------------------------- 
 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS 
  AT ADMISSION: 
---------------------------------------------------------------------------------------------- 
 
   38.69% 
---------------------------------------------------------------------------------------------- 
 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM 
  TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO 
  HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) 
  ADMITTED OR TRADED: 
---------------------------------------------------------------------------------------------- 
 
   N/A 
---------------------------------------------------------------------------------------------- 
 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED 
  DIRECTORS (underlining the first name by which each 
  is known or including any other name by which each 
  is known): 
---------------------------------------------------------------------------------------------- 
 
 Existing                                 Kevin John Lyon          Chairman * 
  Directors 
                                          John Michael Coles       Chief Financial Officer 
                                          Roger Francis Clegg      Chief Operating Officer 
                                          Edward Hammond Rivers    Non-Executive Director 
                                          Marlow 
                                          Nicolas Francois         Non-Executive Director 
                                           Marie Rouveyre 
 
 Proposed                                 Robert Fredrik Martin    Chairman ** 
  Directors                               Adair 
                                          Jean-Pierre Conrad       Chief Executive Officer 
                                                                    ** 
 
                                                                   (* Non-Executive Director 
                                                                    effective from Completion) 
                                                                   (** Effective from 
                                                                    Completion) 
 
 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS 
  EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, 
  BEFORE AND AFTER ADMISSION (underlining the first 
  name by which each is known or including any other 
  name by which each is known): 
---------------------------------------------------------------------------------------------- 
 
 Significant Shareholders prior to Admission 
 
 Name                                           Number of Shares             % of Issued Share 
                                                                                       Capital 
 CGM Schweiz                                          31,941,354                        29.89% 
 Kestrel Opportunities                                14,119,485                        13.21% 
 Charles Davies                                       13,461,599                        12.60% 
 Ambrian Capital PLC 
  Trustees                                             6,259,036                         5.86% 
 Church House Investments                              5,000,000                         4.68% 
 Fidelity Investments                                  4,491,423                         4.20% 
 
 Significant Shareholders following Admission 
 
 Name                                           Number of Shares             % of Issued Share 
                                                                                       Capital 
 Kestrel Opportunities                                14,119,485                        13.21% 
 Charles Davies                                       13,461,599                        12.60% 
 CGM Schweiz                                           9,584,466                         8.97% 
 Cael Engineering Limited                              7,925,409                         7.42% 
 Nicolas Rouveyre                                      7,925,409                         7.42% 
 Ambrian Capital PLC 
  Trustees                                             6,259,046                         5.86% 
 Jean-Pierre Conrad                                    5,106,070                         4.78% 
 Church House Investments                              5,000,000                         4.68% 
 Fidelity Investments                                  4,491,423                         4.20% 
 
 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE 
  WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: 
---------------------------------------------------------------------------------------------- 
 
   N/A 
---------------------------------------------------------------------------------------------- 
 (i) ANTICIPATED ACCOUNTING REFERENCE DATE 
  (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION 
  IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this 
  may be represented by unaudited interim financial 
  information) 
  (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE 
  REPORTS PURSUANT TO AIM RULES 18 AND 19: 
---------------------------------------------------------------------------------------------- 
 
              (i) 31 December 
              (ii) 30 June 2014 
              (iii) 30 June 2015 (annual report for the 12 months 
              ended 31 December 2014) 
              30 September 2015 (half-yearly report for the 6 
              months ended 30 June 2015) 
              30 June 2016 (annual report for the 12 months ended 
              31 December 2015) 
---------------------------------------------------------------------------------------------- 
 EXPECTED ADMISSION DATE: 
---------------------------------------------------------------------------------------------- 
 
   27 March 2015 
---------------------------------------------------------------------------------------------- 
 NAME AND ADDRESS OF NOMINATED ADVISER: 
---------------------------------------------------------------------------------------------- 
 
   Cenkos Securities plc 
   66 Hanover Street 
   Edinburgh EH2 1EL 
---------------------------------------------------------------------------------------------- 
 NAME AND ADDRESS OF BROKER: 
---------------------------------------------------------------------------------------------- 
 
   Cenkos Securities plc 
   66 Hanover Street 
   Edinburgh EH2 1EL 
---------------------------------------------------------------------------------------------- 
 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS 
  OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION 
  DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT 
  THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT 
  AND THE ADMISSION OF ITS SECURITIES: 
---------------------------------------------------------------------------------------------- 
 
   www.ambrian.com 
 
   The Admission Document contains full details about 
   Ambrian plc and its securities. 
---------------------------------------------------------------------------------------------- 
 DATE OF NOTIFICATION: 
---------------------------------------------------------------------------------------------- 
 
   24 March 2015 
---------------------------------------------------------------------------------------------- 
 NEW/ UPDATE: 
---------------------------------------------------------------------------------------------- 
 
   Update 
---------------------------------------------------------------------------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

AIMEAKDLADLSEFF