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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Uvenco Uk | LSE:UVEN | London | Ordinary Share | GB00B29HFH73 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUVEN
RNS Number : 9975P
Uvenco UK plc
24 November 2016
24 November 2016
Uvenco UK plc
Equity subscription and Reward Loan
Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces that, further to the Company's announcement of 15 August 2016, certain directors and senior management of the Company have agreed to subscribe in aggregate for 1,666,667 new ordinary shares of 2p each in the Company ("Ordinary Shares") at 6p per share, to raise GBP100,000 ("Equity Subscription"). Directors' participations are as follows:
Director New Ordinary Resultant % of enlarged Shares shareholding issued share capital Jeremy Hamer 250,000 1,969,967 2.58% Boris Belotserkovsky 916,667 2,533,067 3.31% Michael Jackson 250,000 2,031,971 2.66%
As previously notified the Equity Subscription will enable the Company to draw down an additional GBP100,000 from the debt facility provided by Reward Invoice Finance Limited ("Reward"), taking the total facility to GBP1.3 million and which will be fully drawn.
The Company is also in the process of negotiating a cash loan of up to GBP200,000 from a company connected with Boris Belotserkovsky and Sergei Kornienko, directors of Uvenco. A further announcement will be made in due course.
Additionally, the Company notifies that 200,000 new Ordinary Shares are being issued at 6p per share to Michael Maltby, the Company's previous interim CFO, in lieu of remuneration for consultancy services previously provided to the Company.
Sergei Kornienko, CEO of Uvenco, stated: "The additional funding is a vote of confidence in the success of management's turnaround and will allow us to continue to restructure and drive the profitability of the business."
Concert Party shareholdings
Boris Belotserkovsky is a member of the Belotserkovsky Concert Party (as described in the Company's circular dated 10 October 2014). Following the Equity Subscription the holdings of the members of the Belotserkovsky Concert Party are set out below:
Current shareholding Resultant shareholding ------------------- -------------- ------- ------------------------- Concert Party B Belotserkovsky* 1,616,400 2.19% 2,533,067 3.31% V Belotserkovsky 11,843,616 16.03% 11,843,616 15.49% Unicum Limited 2,300,000 3.11% 2,300,000 3.01% S Kornienko* 600,000 0.81% 600,000 0.78% Versatel Limited 23,800,000 32.21% 23,800,000 31.13% Oleg Chulkov - - - - Gillian White 50,000 0.07% 50,000 0.07% 40,210,016 54.42% 41,076,683 53.79% ============== ======= =============== ======== * Denotes a director of the Company
Total Voting Rights and admission of New Ordinary Shares to trading on AIM
Application will be made to the London Stock Exchange for 1,866,667 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that admission will become effective on 30 November 2015. Therefore, the total number of Ordinary Shares in issue following Admission will be 76,464,119 Ordinary Shares. The figure of 76,464,119 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the Disclosure Guidance and Transparency Rules.
Enquiries
Uvenco UK plc Tel No. 020 8879 8300
Sergei Kornienko
Peter Goodman
Stockdale Securities Tel No. 020 7601 6100
Tom Griffiths
Richard Johnson
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 24, 2016 02:00 ET (07:00 GMT)
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