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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Emerging Uk | LSE:EUI | London | Ordinary Share | GB00B03KMJ93 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0303P Emerging UK Investments Plc 19 July 2005 FOR IMMEDIATE RELEASE 19 JULY 2005 EMERGING UK INVESTMENTS PLC ("EUKI" OR "THE COMPANY") EUKI ENTERS INTO SHARE EXCHANGE AGREEMENT WITH VIATRADE PLC The Board of Emerging UK Investments Plc ("EUKI" or "the Company"), announces today that it has entered into a share for share exchange agreement with Viatrade PLC ("Viatrade"), an Ofex traded investment company with a portfolio of investments in both quoted an unquoted companies. EUKI will acquire 272,600 new Ordinary shares at 1p each in Viatrade representing 20% of the enlarged share capital of Viatrade subject to approval at an EGM to be held by Viatrade and a section 103 report being completed for both companies. The consideration for the acquisition amounting to #52,041.90 is the issue of 520,419 Ordinary shares of 1p each to be issued at a price of 10p. These shares, when issued, will rank pari passu with the existing shares in issue and application will be made for these shares to be traded on AIM. The agreement is also conditional on the mid-market prices of Viatrade and EUKI on Ofex and AiM respectively not falling by ten per cent. averaged over any five consecutive business days prior to the passing of the Resolutions by Viatrade. The market value of the Viatrade shares being acquired is #54,520.00 and on the basis of Viatrade's last reported Net Asset Value as at 31 December 2004; these shares represent a total net asset value of #106,314.00. The auditors to the Company have provided a report under Section 103 of the Companies Act. Viatrade's investment portfolio principally comprises 7 investments in two AIM traded companies, one Ofex quoted company, one NASDAQ traded company, and three unlisted companies as at the date of Viatrade's published results ending 31 December 2004 and were valued in the accounts at #391,929. This is the first investment EUKI has made since being admitted to trading on AIM during November 2004 and follows its recent announcement of the successful part disposal for cash of Skin Health Spa plc shares. The Directors believe this investment will enhance the existing portfolio. As Mr Richard Henstock is a director of both Emerging UK Investments and Viatrade, and a significant shareholder in Viatrade the transaction is Related Party under the AIM Rules. Accordingly, Messrs Renwick Haddow and Andrew Moore confirm that having consulted EUKI's Nominated Adviser, the transaction is fair and reasonable insofar as the shareholders of the Company are concerned. Following the transaction, Viatrade will hold 520,419 Ordinary shares of 1p each in the Company representing 5.56 per cent. of the issued share capital. Enquiries: EMERGING UK INVESTMENTS PLC 07966 130 182 Renwick Haddow VIATRADE PLC 07831 456 795 Richard Henstock BEAUMONT CORNISH LIMITED 0207 628 3396 Noelle Greenaway/Roland Cornish This information is provided by RNS The company news service from the London Stock Exchange END AGRSFLFSUSISEEW
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