RNS Number:7401L
Zyzygy PLC
14 January 2008
Zyzygy plc ("Zyzygy" or the "Company")
Placing of shares
The directors of Zyzygy today announce that they have placed a total of
110,000,000 Ordinary Shares of 0.1p each at a price of 0.25p per share.
The shares have been issued to Billam AG in respect of monies owed by the
Company to Billam AG for providing financial and advisory support to the Company
and its investee companies and to the Company's chairman, Duncan Lipscombe, for
amounts owed to him in respect of sums loaned to Zyzygy and its investee
companies.
Their resultant holdings are as follows:
Number of shares Resultant holding Percentage of total
voting
subscribed rights (991,658,666
shares)
Duncan Lipscombe 30,000,000 73,878,199
7.45%
Billam AG 80,000,000 227,666,667
22.96%
Application is being made for the shares to be admitted to trading on AIM with
admission expected to take place on Monday 21 January 2008.
By virtue of the size of the placing and because Billam AG is a substantial
shareholder in the Company, this placing falls to be disclosed as a related
party transaction under Rule 13 of the AIM Rules for Companies. The Zyzygy
directors, having consulted with the Company's nominated adviser, consider that
the terms of the transaction are fair and reasonable insofar as its shareholders
are concerned.
Contact:
Zyzygy plc
Duncan Lipscombe (Chairman)
07775 681648
Grant Thornton Corporate Finance
Philip Secrett/Colin Aaronson
020 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
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