Uvenco UK plc Equity Investment and Related Party Transaction (5034T)

TIDMUVEN

RNS Number : 5034T

Uvenco UK plc

04 July 2018

4 July 2018

UVENCO UK PLC ("Uvenco" the "Company")

Equity Investment and Related Party Transaction

Further to the Company's announcement on 2 July 2018, the Company announces that Boris Belotserkovsky will be investing GBP100,000 in the Company through a subscription for 5,000,000 new ordinary shares of 2 pence each ("Shares") at 2 pence per Share. This investment is expected to complete on or before 31 July 2018. Furthermore, Boris Belotserkovsky has confirmed to the Company that he would be willing the provide additional funding on the same terms, if required.

Application will be made for admission of the new Shares to trading on AIM, however as the Company's Shares are currently suspended on AIM the new Shares will not be admitted to trading on AIM until such times as suspension is lifted.

The subscription for new Shares by Boris Belotserkovsky comprises a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The independent directors of the Company (being Jeremy Hamer and Michael Jackson), having consulted with the Company's nominated adviser, Stockdale Securities Limited, consider that the terms of the subscription are fair and reasonable insofar as the Company's shareholders are concerned.

Following the issue of the new Shares (i) Boris Belotserkovsky will have a direct interest in 7,533,067 Shares, representing 9.25% of the enlarged issued share capital of the Company, (ii) the Belotserkovsky Concert Party will have interests in a total of 46,076,683 Shares representing 56.56% of the enlarged issued share capital of the Company, and (iii) the total issued share capital of the Company will be 81,464,119 Shares, which 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 the Company under the FCA's Disclosure Guidance and Transparency Rules.

Suspension

Trading on AIM in the Company's Shares will remain suspended pending clarification of its financial position and until such time as the Company has published audited financial results.

Further announcements will be made in due course.

Enquiries:

 
 Uvenco UK PLC 
 
Jeremy Hamer, Chairman         020 8879 8300 
Stockdale Securities Limited 
Tom Griffiths 
 Richard Johnson               020 7601 6100 
 

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

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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July 04, 2018 02:00 ET (06:00 GMT)