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The Kellan Group PLC Proceeds With Proposed Fundraising Offered By Paul-DJ


Thursday, 11 Jul 2013 02:34am EDT 

Dow Jones reported that The Kellan Group PLC announced that it has decided to proceed with a proposed fundraising offered by Paul Bell, in May. Proposed fundraising comprises the issue of 120,000,000 new ordinary shares at a price of 0.75 pence per share to Paul Bell and GBP600,000 nominal principal amount Convertible Loan Note at par to Paul Bell. As the proposed Subscription Price of 0.75 pence per Subscription Share and the Conversion Price under the Convertible Loan Note of 0.75 pence per New Ordinary Share will be less than the nominal value of the Existing Ordinary Shares, it is proposed that a Capital Reorganization is effected to enable the Subscription to proceed. Following completion of the proposals and on admission, Mr. Bell will hold 208,991,840 New Ordinary Shares, representing 62.75% of the Enlarged Issued Share Capital 

Latest Developments for The Kellan Group PLC

Company Quote

0.475
-0.05 -9.52%
23 Jul 2014