Concha plc Issue of Equity (2055R)

TIDMCHA

RNS Number : 2055R

Concha plc

19 September 2017

Concha PLC

RNS announcement: 19 September 2017

For immediate release

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

CONCHA PLC ('Concha' or 'the Company')

Issue of Equity

Concha (AIM:CHA), the AIM listed investment company, is pleased to announce that it has successfully raised gross proceeds of GBP420,000 through the successful placing of 120,000,000 Placing Shares at a price of 0.35 pence per new Ordinary Share. The Placing Price represents a discount of approximately 8% to the closing price on 18 September 2017 being the latest practicable date prior to the date of this announcement.

Application will be made to the London Stock Exchange for the 120,000,000 Placing Shares to be admitted to trading on AIM at 08.00 a.m. on or about Tuesday 26 September 2017 ("Admission"). Once Admission occurs, the Placing will have successfully completed. Upon completion of the Placing, the Placing Shares will represent approximately 6.88 per cent of the enlarged share capital.

In recent months, the Board has been active in assessing a number of potential new opportunities in order to expand its investment portfolio and restore shareholder value. Certain of these opportunities are now entering the final phase of negotiation and whilst there can be no certainty of a positive conclusion, the Board is confident that it will be in a position to make further announcements as appropriate.

Peterhouse Corporate Finance Limited, the Company's Broker acted as sole bookrunner in connection with the Placing.

Chris Akers, Chairman of Concha, commented:-

"In recent months, the Board has taken a pro-active active role in identifying and assessing a number of investment opportunities where Concha has been given the opportunity to secure investment at favourable "early stage" valuations. As a Board, we have a strong track record of being able to identity innovative concepts of a disruptive nature where the opportunities for growth and mass user adoption are significant. It is our intention to harness these successes for the benefit of Concha shareholders and we intend to update the market in due course with news of progress together with an update on the status of our investment in Ve."

Total Voting Rights

Following Admission, the total number of Ordinary Shares and voting rights in the Company will be 1,743,056,912. The Company does not hold any shares in treasury. The above figure 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

**ENDS**

For further information, please contact:

 
 Concha PLC 
  Chris Akers, Chairman             [e-mail] 
 
   SPARK Advisory Partners 
   Limited (Nominated Adviser) 
   Sean Wyndham-Quin/Mark 
   Brady                               [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 19, 2017 11:43 ET (15:43 GMT)