European Wealth Group Limited Result of EGM, Result of Open Offer and Update (5494L)

TIDMEWG

RNS Number : 5494L

European Wealth Group Limited

19 July 2017

European Wealth Group Limited

("EWG", the "Company" or the "Group")

Result of EGM, Result of Open Offer and Update on Admission

European Wealth Group Limited (AIM: EWG, EWGL), the integrated wealth management group, is pleased to announce that the Resolutions put to Shareholders at the Extraordinary General Meeting held earlier today were duly passed.

In addition, the Company announces that it has received applications for 12,577,077 New Ordinary Shares pursuant to the Open Offer. 6,645,049 of these applications were in respect of Shareholders' Basic Entitlement and 5,932,028 were in respect of the Excess Application Facility. In addition, the Company received applications from employees for 1,170,855 New Ordinary Shares. In total, 13,747,932 New Ordinary Shares were subscribed for under the Open Offer and Employee Offer, representing 57.3 per cent. of the 24,001,790 shares available thereunder.

The Company also announces that a condition of the Subscription and Underwriting Agreement has not yet been satisfied or waived and the relevant parties are working together to seek to resolve this. The Company remains confident that this outstanding condition will be satisfied or waived on acceptable terms in the near future.

A further update including details of Admission of the New Ordinary Shares and total voting rights in the Company will be made when appropriate. Details of the Open Offer and Employee Offer and Directors' Interests as amended by the Fundraising and the Debt Conversion will also be provided at that time.

Capitalised terms used in this announcement shall have the meaning ascribed to them in the shareholder circular published on 26 June 2017 unless the context otherwise requires.

For further details, please contact:

 
 European Wealth Group        [phone] 
  Limited                      0730 
 John Morton                  www.europeanwealth.com 
 finnCap Ltd (Nomad 
  and Broker)                [phone] 
 Adrian Hargrave 
 Scott Mathieson 
 FWD Consulting (Financial 
  PR)                        [phone] 
 Roddy Watt                  [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 19, 2017 11:24 ET (15:24 GMT)