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Provider: Reuters Investment Profile
Provider: Wright Reports

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Craven House Capital PLC Announces Acquisition of 50.1% shareholding in Finishtec; Issues New Ordinary Shares

Wednesday, 2 Jan 2013 04:28am EST 

Craven House Capital PLC announced that it has agreed to purchase 17,502 shares in Finishtec - Acabamentos T├ęcnicos em Metais Ltda. - ME (Finishtec) representing 50.1% of Finishtec's issued share capital. The shares are being purchased at a price of approximately $57 per share, amounting to a total consideration of $1,000,000, from the founding partners of Finishtec (the Shareholder). Simultaneously, the Shareholders have agreed to subscribe for 49,739,760 new ordinary shares of GBP0.001 each in the Company (Ordinary Shares) for GBP0.0125 per share, amounting to an aggregate subscription of GBP621,747 (approximately equivalent to $1,000,000). Finishtec is a Brazilian manufacturing company, based in Curitiba, with net assets of over $1,000,000. Following the issue of the new ordinary shares, the Company's total issued share capital will consist of 547,776,501ordinary shares with each share carrying the right to one vote. 

Company Quote

-0.015 -3.16%
21 Nov 2014