Cancellation of Trading of Shares on AIM, Application to Join PLUS-Quoted and
Clarification of Share Capital 03 October 2006 Magna Investments plc (the "Company") today announces that trading of its
Ordinary Shares on AIM will be cancelled as of today under AIM Rule 8. The
Company also announces its intention to apply for the Ordinary Shares of the
Company to be admitted to trading on PLUS-quoted (formerly Ofex) within the next
28 days.
On 20 May 2005, the Company issued a total of 1,100,280 new Ordinary Shares,
raising the total number of Ordinary Shares in issue to 21,616,947. Although
this was disclosed in both the Interim and Final Results, it was not disclosed
at the time of the issue of the new shares as should have been the case.
Of these new shares, 500,000 were issued under a placing for cash at 6p per
share, raising £30,000 before expenses. As part of this placing, 1 Warrant to
Subscribe was issued for each new Ordinary Share. These Warrants (500,000 in
total) allow for the purchase of 1 new Ordinary Share for each Warrant at a
subscription price of 10p per share between 20 May 2005 and 20 May 2006; this
was subsequently extended by the Company to 20 May 2007.
The remaining 600,280 new Ordinary Shares were allotted for services performed. 416,667 were allotted at a price equivalent to 3p per share; 183,613 were
allotted at a price equivalent to 2.38p per share. These were all issued to the
Directors of the Company in the following amounts: * 52,521 - John Norrie Allan
* 52,521 - Stephen Clive Jennings
* 495,238 - Eric Frank Kohn Following the issues of these shares, the Directors hold the following numbers
of shares (and percentages of the issued share capital) in the Company: * 1,052,521 (4.87%) - John Norrie Allan
* 2,052,521 (9.49%) - Stephen Clive Jennings
* 15,495,238 (71.68%) - Eric Frank Kohn In addition to these shares previously issued, the Company today announces that
it has allotted for services performed a total of 2,173,109 new Ordinary Shares
at a price equivalent to 2.38p per share, bringing the total number of shares in
issue to 23,790,056. These were all issued to the Directors of the Company
(including to Barons Financial Services (UK) Limited in which Mr Kohn has
beneficial ownership) in the following amounts: * 315,126 - John Norrie Allan
* 315,126 - Stephen Clive Jennings
* 1,542,858 - Eric Frank Kohn (including 1,071,429 issued to Barons Financial
Services (UK) Limited)Following the issues of these shares, the Directors hold the following numbers
of shares (and percentages of the issued share capital) in the Company: * 1,367,647 (5.75%) - John Norrie Allan
* 2,367,647 (9.95%) - Stephen Clive Jennings
* 17,038,096 (71.62%) - Eric Frank Kohn(including 1,071,429 (4.50%) issued to
Barons Financial Services (UK) Limited)Contact: Nick Harriss
ARM Corporate Finance Limited
020 7512 0191
nick.harriss@armcf.com
www.armcf.com Eric F. Kohn TD
Chairman
Magna Investments Plc
020 7823 2662
efk@magnainvest.biz
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