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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Newfound | LSE:NFND | London | Ordinary Share | NL0000686764 | ORD EUR0.01 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 3682Y Newfound N.V. 04 July 2008 Newfound N.V. ("Newfound" or the "Company") Completion of £15 million fundraising Newfound N.V. is pleased to announce the completion of the £15 million fundraising through the issue of Secured Notes and Warrants announced by the Company on 3 June 2008. The Secured Notes and Warrants have been admitted to the official list of the Luxembourg Stock Exchange and to trading on the Exchange's Euro MTF market, and dealings in the Secured Notes and Warrants have commenced. Following Completion, Newfound has also announced today the appointment of Jayne McGivern as the new Chief Executive Officer with immediate effect. Jayne McGivern said: "I am excited to lead the new management team at Newfound N.V. With this £15 million injection of capital, we can develop the existing properties in Canada and the Caribbean and start to exploit new business opportunities in development situations where there is potential for significant upside." Jayne McGivern has subscribed for £1.0 million of the Issue out of her own funds. 20 Secured Notes have been issued to Miss McGivern, together with 8,333,320 Warrants which, following exercise, would represent approximately 2.32 per cent. of the Enlarged Share Capital (as defined in the Circular dated 3 June 2008). In the absence of applications being received from Qualifying Shareholders for Secured Notes and Warrants pursuant to the Offer, Agilo has subscribed for the remaining £14.0 million of the Issue. 280 Secured Notes have been issued to Agilo, together with 116,666,480 Warrants which, following exercise, would represent approximately 32.51 per cent. of the Enlarged Share Capital. As announced on 1 July 2008, Agilo's beneficial holding of the Company's Ordinary Shares is 20,600,434, representing approximately 11.46% of the issued ordinary share capital. Following the Subscription and assuming exercise of all the Warrants held by it, Agilo's beneficial holding in the Enlarged Share Capital would be approximately 38.25 per cent. The Issue Proceeds will be used to provide new working capital for the Company and to fund its operational restructuring. Upon exercise of any of the Warrants, application will be made by the Company to the London Stock Exchange for the Ordinary Shares issued as a result of the exercise of such Warrants to be admitted to trading on AIM. Such new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares. If all the Warrants were exercised, the total number of new Ordinary Shares issued would be 124,999,800, representing approximately 34.8 per cent. of the Enlarged Share Capital. Unless the context otherwise requires, defined terms used in this announcement shall have the same meaning as those in the Circular dated 3 June 2008. Enquiries: Newfound N.V. Jayne McGivern, CEO +44 (0) 20 7470 2490 Collins Stewart Europe Limited Adrian Hadden +44 (0) 20 7523 8350 About Newfound: Newfound is a creator and operator of international luxury resorts and destinations. The Company has a high quality portfolio of resort projects at Humber Valley in Canada, and Pinney's Estate in Nevis and Ocean's Edge in St. Kitts, both in the Caribbean. Humber Valley Resort, with 2,200 acres, currently has over 210 privately owned properties the majority of which are available for rent. It is an all-season, luxury resort offering golf, world-class salmon fishing, sailing, skiing and a luxury spa. Newfound has an integrated business model based on destination master-planning, which generates revenues from multiple sources, including freehold land sales, construction and development, services to owners, the provision of leisure activities and the operation of concessions. Newfound is building an industry leading, world-class luxury lifestyle brand offering exceptional holiday experiences in luxurious homes, situated in locations of outstanding natural beauty. www.newfoundresorts.com This information is provided by RNS The company news service from the London Stock Exchange END MSCRIMBTMMJMBPP
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