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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sorbic Int | LSE:SORB | London | Ordinary Share | GB00B3CX3F30 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSORB
RNS Number : 3377M
Sorbic International PLC
15 July 2014
Press Release 15 July 2014
Sorbic International plc
("Sorbic" or the "Company")
Result of General Meeting
Issue of Equity
Sorbic International plc (AIM:SORB), a leading sorbates producer in China, announces that all resolutions were passed at its general meeting held earlier today. The Company has also received approval from existing loan note holders for the issue of equity. Following the passing of the resolutions, the conditional placing to raise GBP250,000 by means of the issue of 2,500,000 New Ordinary Shares ("Placing Shares") at 5 pence per share and of 125 new Loan Notes at GBP1,000 per Loan Note will complete on 16 July 2014.
The subdivision of all of the Company's Existing Ordinary Shares into one New Ordinary Share and one Deferred Share will take effect from 16 July 2014.
Following Admission of the New Ordinary Shares and the Placing Shares, the Placing Shares will rank pari passu in all respects with the existing ordinary shares in issue including the right to receive all dividends and other distributions declared. Following the issue of the Placing Shares, the Company's total issued and voting share capital will comprise 55,885,980 Ordinary shares. This 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, securities of the Company under the FCA's Disclosure and Transparency Rules.
- Ends -
For further information: Sorbic International plc Tel: +44 (0)7768 031 454 John McLean, Chairman www.sorbicinternational.com finnCap (Nomad) Geoff Nash / Ben Thompson Tel: +44 (0) 20 7220 0500 Hybridan LLP (Broker) Claire Louise Noyce Tel: +44 (0) 20 3713 4581
Media enquiries:
Abchurch Communications Henry Harrison-Topham / Tel: +44 (0)20 7398 Canace Wong 7714 canace.wong@abchurch-group.com www.abchurch-group.com
Notes to Editors: www.sorbicinternational.com
About Sorbic International plc
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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