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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Helesi | HLS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 24/1/2011 22:20 by delladella I have been investing in HLS for a while now; most of those being negative have been looking for a while and are annoyed that other more savvy investors have discovered HLS.Helesi's bank has been very supportive, the government debt of Euro50m and the outstanding EU grants will be announced soon and we'll be back at the 40/50p level. DYOR DD |
Posted at 07/5/2009 09:08 by dasv here is the RNS on the share placing. It doesn't seem to state the total number of shares in the company post placing:-Announcement re Placing and Director Participation Helesi Plc (AIM: HLS), announces that it is proposing to raise additional equity capital and indications of interest have been received in respect of 6,250,000 ordinary shares of EUR0.10 each ("Ordinary Shares") as fully paid up at a price of EUR0.64 per Ordinary Share (the "Placing Price") raising EUR4,000,000. The Company intends to raise a total of up to EUR10,000,000 via a placing of up to 15,625,000 new Ordinary Shares should there be additional demand from other institutional investors. The fundraising will occur in two stages; in the first stage the Company expects to place in the next few days, conditional upon Admission, 3,277,450 Ordinary Shares at the Placing Price, representing gross proceeds of EUR2,097,568, under its existing authority to issue shares for cash (the "First Placing"). These Ordinary Shares will be placed with TECMEC AE (a company controlled by Sakis Andrianopoulos, the Company's CEO and his wife Christina Thanassoulia, a director of the Company). To implement the second stage of the fundraising, the Company will convene an Extraordinary General Meeting ("EGM") seeking a shareholder resolution to disapply preemption rights so that it can raise the remaining amount of up to EUR7,902,432 via a placing for cash (the "Second Placing"). TECMEC AE has also indicated that it wishes to subscribe for a further 2,972,550 Ordinary Shares, representing additional gross proceeds of EUR1,902,432 in the Second Placing. Background Earlier today Helesi announced its preliminary results for the year ended 31 December 2008. These showed a year of significant progress despite the worsening economic environment. The net debt of the Helesi Group was higher than anticipated, which the Company financed using its strong banking relationships and still ended the year with undrawn facilities of approximately EUR10 million. Helesi is a cash generative business and, whilst it could sustain the current level of borrowings pending receipt of government grants which are due to it, the Board believes that it is prudent to prioritise a reduction in the level of borrowings. The proceeds from the Placings will be used to create a more appropriate capital structure for the Company and provide greater resilience and financial flexibility in the current environment. The associated reduction in financial indebtedness will provide additional headroom under the covenant levels in Helesi's existing debt facilities. Initially the proceeds will be used to reduce the Company's indebtedness pending receipt of EUR21m of EU grants which are expected to be paid to Helesi during 2009. Thereafter the additional resources will assist in financing the increasingly large contract wins which Helesi is now securing, as well as emerging opportunities in waste management. EGM The Second Placing is conditional, inter alia, on shareholder approval and a circular convening the EGM ("Circular") will be posted to shareholders in due course. At the EGM, shareholder approval will be sought, inter alia, for the allotment and issue of securities as part of the Second Placing. The total number of Placing Shares conditionally taken up under the Second Placing will be announced prior to the EGM. The Directors of Helesi and their connected parties reserve the right to participate further in the Second Placing. Investor participation in the Second Placing The Second Placing will remain open to enable institutional investors to participate if they so wish. Helesi has retained Panmure Gordon, its NOMAD and broker, to assess demand for additional shares, in particular from existing shareholders of Helesi. Interested investors should therefore contact Ashton Clanfield at Panmure Gordon on +44 (0)20 7459 3600 as soon as possible. The closing is expected to occur following the posting of the Circular, prior to the EGM taking place. Details of the EGM will be contained in the Circular which will be posted to shareholders in due course. Members of the public are not eligible to take part in the Second Placing, which is only being directed at (i) in the United Kingdom, "qualified investors" (as defined in section 86 FSMA) who are persons of a kind described in Articles 19, 43 or 49 of the Order, or (ii) persons who may otherwise lawfully participate. No other person may participate in the Second Placing or rely on any communication relating to it. Placing Price The Board has resolved that the price of both the First Placing and the Second Placing will be EUR0.64 per share. In determining the price the Board has taken into consideration a number of factors including the following points. Helesi has today announced good results for 2008 and the trading performance in 2009 to date has been robust. The Company's share price has fallen sharply over the last 12 months on modest trading volumes, in common with many other companies. The level of gearing has been a concern for some investors; however the directors remain confident that the indebtedness will reduce significantly during 2009. Related Party Transaction Sakis Andrianopoulos, who along with his wife Christina Thanassoulia, control TECMEC AE, currently own 39.5% of the issued share capital of Helesi and are both represented on the Board. Their participation in the Placing therefore constitutes a related party transaction pursuant to the AIM Rules. Following the First Placing, Sakis Andrianopoulos and Christina Thanassoulia will own 45.0% of the Company and assuming the Second Placing is fully subscribed, 39.7%. If the only shares subscribed under the Placings are the 6.250,000 Ordinary Shares for which Sakis Andrianopoulos and Christina Thanassoulia have indicated they intend to purchase, then together they will own up to 49.2% of the Company. There are no implications regarding this increase in shareholding in respect of Cypriot takeover code provisions. The Directors of Helesi (excluding Sakis Andrianopoulos and Christina Thanassoulia) consider, having consulted with Panmure Gordon & Co, Helesi's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. Application will be made to the London Stock Exchange for the Admission of the Placing Shares to trading on AIM. The Placing Shares will rank pari pasu with the existing issued Ordinary Shares. Commenting on the Placing, Sakis Andrianopoulos, Chief Executive and Interim Chairman of Helesi, said: "Helesi is a strong, cash generative business. The combination of an EUR87 million investment programme, late receipt of agreed government grants and the effects on our customers of the recession have together meant that net debt has risen to higher levels than we planned or is attractive to public markets. This fundraising will address the issue and leave us with significant headroom." For further information, please contact: +------------------- | Helesi PLC | +44 (0)20 7920 3150 or | | | + 30 210 60 48 393-4 | +------------------- | Sakis Andrianopoulos, CEO | | +------------------- | Apostolos Binomakis, CFO | binomakis@helesi.com | +------------------- | | | +------------------- | Panmure Gordon | + 44 (0)20 7459 3600 | +------------------- | Andrew Godber/Katherine Roe, Corporate | | | Finance | | +------------------- | Ashton Clanfield, Corporate Broking | | +------------------- | | | +------------------- | Tavistock Communications | + 44 (0)20 7920 3150 | +------------------- | Simon Hudson | | +------------------- | Gemma Bradley | | +------------------- |
Posted at 23/11/2006 13:32 by hedgehunter Helesi PLC23 November 2006 23 November 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA HELESI PLC ('Helesi' or 'the Company') FIRST DAY OF DEALINGS Helesi PLC, the manufacturer of plastic waste containers and material handling products and provider of waste management services, announces that the Company's shares have been admitted today to trading on the Alternative Investment Market of the London Stock Exchange plc('AIM'). The Company's trading symbol is 'HLS'. 9,969,505 new ordinary shares have been allocated to institutional investors at a price of 116 pence per share ('the Placing Price'), raising approximately £11.6m (17.0m) for the Company before expenses. On admission to AIM a total of 32,774,505 ordinary shares were in issue capitalising the Company at approximately £38.0 million at the Placing Price. The Company's nominated adviser and broker is Panmure Gordon & Co. -ends- Enquiries: Helesi PLC +30 210 604 8393-4 Sakis Andrianopoulos, Chief Executive Apostolos Binomakis, Finance Director Panmure Gordon +44 (0) 20 7459 3600 Andrew Godber Katherine Roe Chris Bucknall Tavistock Communications +44 (0) 20 7920 3150 Simon Hudson +44 (0) 77 66 33 1921 Rachel Drysdale Paul Dulieu DYOR and do not spend money on stocks you cannot afford to lose. |
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