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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Conister Tst | LSE:CTU | London | Ordinary Share | GB0002160678 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 78.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2343H Conister Trust PLC 07 November 2007 7 November 2007 Conister Trust PLC ('Conister Trust' or the 'Company') ISSUE OF NEW SHARES Conister Trust announces the placing of 8,336,857 ordinary shares of 25 pence each (the "Ordinary Shares") at a price of 85 pence per Ordinary Share to Helvetica Strategic Holdings for a total consideration of #7,086,328. Helvetica Strategic Holdings ("the Fund") is an investment vehicle advised by Helvetica Wealth Management Partners ("Helvetica"), a global asset manager with offices in Geneva, Zug, Singapore and Douglas. Through its presence on the Isle of Man, Helvetica advises a number of listed and private funds; in 2006 it was appointed as an investment manager for the Treasury Reserves by the Isle of Man Government. Helvetica also has strong ties with the State of Qatar, where it is in the process of setting up an office. Oliver Hare, Chief Executive Officer of Helvetica commented that "We believe that Conister Trust represents an exceptional opportunity for long-term growth within a well-regulated and tax-efficient jurisdiction. We look forward to working together with Conister Trust in the development of wealth management products and services. In addition, we are extremely impressed with the prepaid cards and other payment solutions developed by TransSend, Conister Trust's global payment solutions subsidiary." Jim Mellon, Chairman of Conister Trust stated that "The Board is of the opinion that it is in the best interests of the Company to accept this high-profile investment at a premium to market price. The monies raised will provide further impetus to the Company's strategy of becoming a leading global provider of payment solutions, including prepaid cards. In addition, this new relationship will allow Conister Trust to develop further opportunities within the banking and finance sector." The proceeds of the placing will be used by Conister Trust to fund the development costs of the prepaid card business, new banking initiatives and to strengthen the balance sheet. The total number of Ordinary Shares in issue following the allotment and issue of the new Ordinary Shares is 50,409,000, of which the Fund will own 8,336,857 Ordinary Shares, representing 16.54 per cent of the issued Ordinary Share capital of the Company. Application has been made to the London Stock Exchange for the 8,336,857 Ordinary Shares to be admitted to trading on AIM and trading in these Ordinary Shares is expected to come effective on 13 November 2007. END For further information, please contact: Conister Trust plc Jeremiah Linehan Chief Executive Officer Tel 01624 694694 Beaumont Cornish Limited Roland Cornish Tel +44 (0) 20 7628 3396 This information is provided by RNS The company news service from the London Stock Exchange END IOEFSIFMWSWSELF
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