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Circle Holdings PLC announces issue of equity and capital reorganisation

Friday, 20 Dec 2013 02:00am EST 

Circle Holdings PLC:Announces that it intends to raise 25 pounds million by way of a fully underwritten placing of 46,000,000 Placing Shares and a subscription of 4,000,000 Subscription Shares (which is not being underwritten) at a price of 50 pence per new Ordinary Share with institutional shareholders.Says in addition, it has granted an option to Numis under the Placing Agreement in order to meet any additional demand under the Placing (up to 5 million new Ordinary Shares) in the period from the date of this Announcement to Jan. 7, 2014.Says it has also reached agreement in principle with the directors of Circle Partnership on the terms of the Acquisition.Says under the terms of Project Reset, the company shall acquire all of the issued shares of Circle Partnership which owns 49.9 pct of the issued share capital of Circle Health.Says the Acquisition will be effected by way of a Scheme of Arrangement under BVI law under the terms of which the company will issue the Consideration Shares to the New Trustee.Says the New Trustee will hold the Consideration Shares on behalf of the CP Shareholders.Says the New Trustee will on completion of Project Reset hold 25 pct of the entire issued share capital of the company.Says the remaining 75 pct of the issued share capital will be held by the existing Shareholders and those persons who acquire New Ordinary Shares pursuant to the Placing and Subscription. 

Latest Developments for Circle Holdings PLC

Company Quote

23 Dec 2014