Craven House Capital PLC Cash placing of $3 million (6972P)

TIDMCRV

RNS Number : 6972P

Craven House Capital PLC

21 November 2016

21(st) November 2016

Craven House Capital plc ("Craven House" or the "Company")

Cash placing of 240,000 new ordinary shares at $12.50 per share

Craven House Capital (AIM: CRV) announces that it has raised $3,000,000 in cash (before expenses), through a placing (the "Placing") of 240,000 new ordinary shares of $1.00 each in the Company ("Placing Shares") at a price of $12.50 per Placing Share ("Placing Price").

The net proceeds of the Placing will be used to further execute the Company's investment policy. A number of prospective investment opportunities in our target markets are currently under evaluation and further updates will be provided to the market in due course.

Further to previous announcements, the Company is continuing its discussions with additional prospective investors with regard to making investments in the Company via further subscriptions for new shares and updates will be provided to the market in due course.

Application will be made for the Placing Shares, which will rank pari passu with the existing ordinary shares in the Company, to be admitted to trading on AIM. It is expected that Admission will become effective and dealings will commence at 8.00 a.m. on 25 November 2016.

Following Admission the total issued share capital will consist of 2,464,362 ordinary shares. As such the total number of voting rights in the Company will be 2,464,362 ordinary shares. This number 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 FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Ends

For further information please contact:

 
 Craven House Capital Plc          Tel: [phone] 
  Mark Pajak 
  www.Cravenhousecapital.com 
 SI Capital                        Tel: [phone] 
  Broker 
  Nick Emerson 
  www.sicapital.co.uk 
  SPARK Advisory Partners           Tel: [phone] 
   Limited 
   Nominated Adviser 
   Matt Davis/Mark Brady 
   www.Sparkadvisorypartners.com 
 

About Craven House Capital:

Craven House Capital is a frontier and emerging market focused merchant bank seeking value oriented long term investments. Craven House invests in all segments of the capital structure in partnership with local entrepreneurs and the local business community. Craven House provides long term patient capital and is often involved in restructuring, expansion and turn around investments in crisis and transitioning economies.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 21, 2016 03:57 ET (08:57 GMT)