Milestone Group PLC Milestone Group Plc : Update On Placing

 
TIDMMSG 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Update on Placing 
 
   Further to the announcement dated 27 February 2017 the Company confirms 
that it now has the relevant shareholder authority to issue 30,000,000 
new ordinary shares at a price of 0.1 pence per share ("Placing") to 
satisfy a conditional subscription agreement ("Agreement") entered into 
at that time with an investor ("Investor"). The Agreement was entered 
into to allow the Investor to invest in the Company at an effective 
placing price of 0.3p per share. 
 
   Having previously purchased 5,000,000 ordinary shares at a price of 1.5p 
per share, generating gross proceeds of GBP75,000 for the Company, the 
Investor has now purchased a total of 35,000,000 shares for total 
consideration of GBP105,000, giving an effective price per share of 0.3p, 
as per the terms of the Agreement. 
 
   The Placing will provide the Company with gross proceeds of GBP30,000. 
Application for the 30,000,000 new ordinary shares will be made to the 
London Stock Exchange.  Trading in the new ordinary shares is expected 
to occur on or around 6 April 2017. 
 
   Upon Admission, Milestone will have in issue 1,112,141,411 Ordinary 
Shares with voting rights. 
 
   The above 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, the Company under 
the FCA's Disclosure and Transparency Rules. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: [phone] 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: [phone] 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: [phone] 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius/Paul Whittington   Tel: [phone] 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

March 30, 2017 11:24 ET (15:24 GMT)

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