RM2 International SA Issuance of Shares, Director Shareholdings and TVR (9275K)

TIDMRM2

RNS Number : 9275K

RM2 International SA

02 September 2019

2 September 2019

RM2 International S.A.

("RM2" or the "Company")

Issuance and Transfer of Shares, Director Shareholdings, Total Voting Rights

RM2 today announces that, following the approval received at the General Meeting of Shareholders held on 31 July 2019, the second instalment of the First Tranche Placing has now completed through the issuance of 50,000,000 new Ordinary Shares (the "Second Instalment Shares") to Richard Cashin at the Placing Price for $1,000,000. Immediately following issuance of the Second Instalment Shares, and pre the transfers described in the below paragraph, but post the transfers referred to in the Company's announcement dated 27 August 2019 which have now completed, Richard Cashin's holding stands at 89,367,087 Ordinary Shares.

As previously announced, Richard Cashin is expected to be on-selling at the Placing Price (i) 5,000,000 of the Second Instalment Shares to The Accommodation Trust (a family vehicle of R. Ian Molson, the Company's Chairman) and (ii) 5,419,646 of the Second Instalment Shares to Polygon Global Partners LLP. Upon settlement of these two transfers, Richard Cashin's holding will stand at 78,947,441 Ordinary Shares.

The table below sets out the positions of the Company's Significant Shareholders (as defined in the AIM Rules) following the issuance of the Second Instalment Shares and upon settlement of the two transfers described above, as well as those expected positions following the issue of the First Tranche Placing Shares and the Second Tranche Placing Shares (assuming the Conditions are met).

 
                        Holding        % of currently   Holding        % of First   Holding        Holding 
                         of Ordinary    issued           of Ordinary    Tranche      of Ordinary    of Ordinary 
                         Shares*        share            Shares         Enlarged     Shares         Shares 
                                        capital*         after          Share        after          after 
                                                         admission      Capital*     admission      admission 
                                                         of First                    of Second      of Second 
                                                         Tranche                     Tranche        Tranche 
                                                         Placing                     Placing        Placing 
                                                         Shares*                     Shares*        Shares* 
 Richard Cashin           78,947,441            56.3%    118,527,795        62.3%    234,756,357          69.0% 
                       -------------  ---------------  -------------  -----------  -------------  ------------- 
 Woodford Investment 
  Management, 
  LLP, acting 
  on behalf of 
  funds under 
  its management          23,720,250            16.9%    23,720,250         12.5%     23,720,250           7.0% 
                       -------------  ---------------  -------------  -----------  -------------  ------------- 
 Polygon Global 
  Partners LLP            12,356,183             8.8%     17,775,829         9.3%     34,034,767          10.0% 
                       -------------  ---------------  -------------  -----------  -------------  ------------- 
 R. Ian Molson 
  and 
  associated 
  Family Trusts           12,448,499             8.9%     17,448,499         9.2%     32,448,499           9.5% 
                       -------------  ---------------  -------------  -----------  -------------  ------------- 
 

* The figures stated above assume the completion of the transfers to The Accommodation Trust and Polygon Global Partners LLP described herein, that both the First Tranche Placing and the Second Tranche Placing are completed and that there are no other changes to the Company's issued share capital between today's date and the completion of the Second Tranche Placing.

Total Voting Rights

Application has been made to the London Stock Exchange for the admission of the 50,000,000 Second Instalment Shares to trading on AIM, which is expected to occur at 8.00 a.m. on 4 September 2019. Application for the admission of subsequent instalments of Placing Shares is expected to be made such that admission to trading on AIM will shortly follow the issuance of each instalment of Placing Shares.

Following the issue of the First Instalment Shares, the Company's issued share capital will be comprised of 140,347,671 Ordinary Shares, of which 193,500 Ordinary Shares are held by the Company as non--voting treasury stock ("Treasury Shares"). The total number of voting rights in the Company is calculated as the number of outstanding Ordinary Shares less Treasury Shares, which results in a total voting rights figure of 140,154,171. Shareholders may use this figure of 140,154,171 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules and the Company's articles.

Capitalized terms not otherwise defined herein have the meanings ascribed thereto in the Company's RNS issued on 22 July 2019.

For further information:

 
 RM2 International S.A.                                [phone] 
 Kevin Mazula, Chief Executive Officer 
  Jean-Francois Blouvac, Chief Financial 
  Officer 
 
 Strand Hanson Limited (Nominated & Financial 
  Adviser and Broker)                            [phone] 
 James Spinney / Ritchie Balmer / James 
  Bellman 
 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

Notes to Editors

RM2 International S.A. specialises in smart pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L. For further information, please visit www.rm2.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 02, 2019 08:54 ET (12:54 GMT)