Milestone Group PLC Milestone Group Plc : Issue Of Equity

 
TIDMMSG 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Issue of Equity 
 
   The Company announces that it has raised gross proceeds of GBP517,220 
through a placing of 172,406,670 new ordinary shares of 0.1p each 
("Ordinary Shares") at a price of 0.3 p per share. 
 
   Further to the announcement made by the Company on 7 December 2016, the 
Company also advises that GBP60,000 of proceeds has been received from 
certain of the Broker Placees (as defined in the 7 December 2016 
announcement) in respect of the placing originally announced on 20 
October 2016 (the "October 2016 Placing").  These Broker Placees have 
also agreed to subscribe for a further 24,000,000 Ordinary Shares at par, 
providing the Company with additional gross proceeds of GBP24,000, the 
effect of which is to allow these Broker Placees to effectively 
subscribe at 0.3 p per share in respect of the new issue of equity and 
the October 2016 Placing when aggregated. 
 
   Accordingly, in aggregate, the Company will receive gross proceeds of 
GBP601,220 in relation to the new issue of equity and receipt of funds 
from the October 2016 Placing. 
 
   An amount of GBP1,325,000 remains outstanding in relation to the October 
2016 Placing.   The Company remains in discussion with the remaining 
Broker Placee and, as already announced, intends to pursue the Company 
Placee (as defined in the 7 December 2016 announcement) in respect of 
the GBP1,250,000 outstanding from it. 
 
   Application has been made for the 196,406,670 Ordinary Shares to be 
admitted to trading on AIM ("Admission").  These new Ordinary Shares 
will upon Admission rank pari passu with the existing Ordinary Shares. 
Admission is expected to occur on or around 21 December 2016. 
 
   Upon Admission, Milestone will have in issue 1,082,141,411 Ordinary 
Shares with voting rights. 
 
   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 Company under 
the Disclosure and Transparency Rules. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. Upon the publication of this 
announcement, this inside information is now considered to be in the 
public domain. 
 
   For further information: 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: [phone] 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: [phone] 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: [phone] 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius/Paul Whittington   Tel: [phone] 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

December 13, 2016 02:00 ET (07:00 GMT)

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