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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Faces Cosmetics | LSE:FCE | London | Ordinary Share | GB00B1CKTQ32 | 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% | 0.175 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
FACES COSMETICS PLC (THE "COMPANY") CONVERSION OF PREFERENCE SHARES The Board announces that 25,861 preference shares have been converted into 25,861 ordinary shares, in accordance with the Company's articles of association. The new ordinary shares will rank pari passu with the existing ordinary shares in issue. Application has been made for these new ordinary shares to be admitted to trading on AIM and admission is expected to become effective on 28 August 2008. In each quarterly period, commencing with the quarter beginning 1 February 2007 and ending with the quarter terminating on 31 July 2011, the holders of preference shares may convert the preference shares held by them into an equivalent number of ordinary shares subject to the quarterly maximum conversion numbers set out in the table below: Year commencing on 1 August Maximum number of preference shares that can be converted in each quarter 2008 1,294,118 2009 1,470,588 2010 1,647,059 Following the receipt of a conversion notice, the Company may elect to redeem all or some of the preference shares, the subject of that notice. Any preference shares remaining unconverted on 1 August 2011 shall be subject to automatic conversion into ordinary shares unless previously redeemed by the Company. If there is a general offer for all the ordinary shares which becomes unconditional in all respects, all the preference shares remaining unconverted or unredeemed shall be converted into ordinary shares. Following the conversion of the preference shares the issued share capital of the Company will be as follows: Ordinary Shares Preference Shares 178,389,204 30,093,154 For further information please contact: Ramesh Jolly Chief Executive Officer Faces Cosmetics plc Tel: +1(905) 760 0110 Ext.112 Liam Murray Director Dowgate Capital Advisers Ltd Tel: +44 (0) 20 7492 4777 Aaron Smyth Assistant Director Dowgate Capital Advisers Ltd Tel: +44 (0) 20 7492 4777 Ian Callaway Head of Corporate Broking SVS Securities plc Tel: +44 (0) 20 7638 5600 END
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