Ipso Ventures PLC Completion of Demerger and Subscription (9649W)

TIDMIPS

RNS Number : 9649W

Ipso Ventures PLC

01 February 2013

1 February 2013

IPSO Ventures plc

(to be re-named Plutus Resources plc)

(the "Company")

Completion of Demerger and Subscription

Further to the announcement made by the Company on 31 January 2013, the Company is pleased to confirm that admission of the Subscription Shares to trading on AIM became effective at 8.00am this morning, resulting in completion of the Proposals.

Pursuant to the Proposals, the Company has raised GBP360,000 (before expenses) through a subscription for 104,000,000 new Ordinary Shares at 0.25p per Ordinary Share and the issue of GBP100,000 of Convertible Loan Notes convertible into 40,000,000 new Ordinary Shares.

Nicholas Lee has joined the Board as a Non-Executive Director and John Kelly has stepped down from the Board. Craig Rochford (formerly executive Chairman) remains on the Board as a Non-Executive Director. In addition, Charles Tatnall and James Longley, both of whom are Subscribers, have joined the Company in non-Board capacities with James Longley acting as Chief Financial Officer and Company Secretary and Charles Tatnall acting as a consultant to the Company.

The Board confirms that, following Admission of the Subscription Shares, it is aware of the following Shareholders that have interests in 3 per cent. or more of the issued share capital of the Company, as detailed below:

 
 Shareholder              Number of Ordinary   Percentage of issued share 
                                      Shares                      capital 
 
 Paternoster Resources 
  plc*                            40,000,000                         27.9 
 Charles Tatnall                  28,000,000                         19.5 
 James Longley                    20,000,000                         13.9 
 Richard Hoblyn                    8,000,000                          5.6 
 Robert Savill                     6,000,000                          4.2 
 Andrew Hobbs                      5,740,000                          4.0 
 

* Nicholas Lee (Non-Executive Director of IPSO) is also Chairman of Paternoster Resources plc

Definitions in this announcement are consistent with those set out in the circular issued to Shareholders of the Company on 28 December 2012, a copy of which is available on the investor section of the Company's current website (http://www.ipsoventures.com).

For further information, please contact:

 
 IPSO Ventures plc                       Tel: [phone] 
  Nicholas Lee, Non-Executive Director 
  Craig Rochford, Non-Executive 
  Director 
 Allenby Capital Limited                 Tel: [phone] 
  (Nominated Adviser and Broker) 
  Mark Connelly 
  Nick Athanas 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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