PureCircle Limited Increase in Private Placement (0558W)
November 04 2014 - 2:00AM
UK Regulatory
TIDMPURE
RNS Number : 0558W
PureCircle Limited
04 November 2014
PURECIRCLE LIMITED
("PureCircle" or the "Company")
INCREASE IN PRIVATE PLACEMENT
PureCircle (LSE: PURE), the world's leading producer and
marketer of high purity stevia, today announces the additional
placing of 2.5 million new ordinary shares in the Company ("the
Increased Placing") at a price of GBP5.50 per share. The Increased
Placing has been undertaken in response to strong investor demand
for shares following the Company's Placing announcement on 21
October 2014. Following completion of the initial placing
(announced 21 October 2014) and the Increased Placing, the Company
will have issued a total of 5 million new ordinary shares for a
total consideration of GBP27.5 million (US$44 million). The total
proceeds will enable the Company to expand the supply chain
capacity in the China and Malaysia facilities, expand the
plantations in Kenya and Paraguay, invest in the development of new
sweetener technology and build finished goods inventory in
anticipation of increasing sales demand. The Increased Placing is
expected to complete on or around 10 November 2014 and the Company
has no present intention to issue any new shares after the
completion.
Details of the Increased Placing
The Increased Placing shares will, when issued and duly paid,
rank pari passu in all respects with the existing ordinary shares
in the share capital of the Company.
The Increased Placing will be completed upon receipt of funds,
expected to be finalized on or around 10 November 2014. Upon
completion of the Increased Placing (and including completion of
the initial placing as announced 21 October 2014), the total
ordinary shares on issue by the Company (which includes treasury
shares) will increase to 169,866,294. Correspondingly, the total
number of voting rights will increase to 169,737,430; this figure
should be used by shareholders as the denominator in the
calculation of their interest in the Company.
Application will be made for admission of the Placing Shares for
trading on AIM ("Admission") and Admission is expected to take
place on or around 10 November 2014.
Notifiable interests
Following completion of the Increased Placing, the amended
significant shareholdings in the Company will comprise:-
Name Number of Shares Number of % Shareholding
taken in Increased Shares
Placing
----------------------------- -------------------- ----------- ---------------
Wang Tak Company Limited(1) 658,500 42,063,390 24.8%
----------------------------- -------------------- ----------- ---------------
Olam International Limited - 30,544,609 18.0%
----------------------------- -------------------- ----------- ---------------
Magomet Malsagov (Executive
Director of PureCircle)(2) - 14,866,912 8.8%
----------------------------- -------------------- ----------- ---------------
Half Moon Bay Capital
Limited - 13,268,724 7.8%
----------------------------- -------------------- ----------- ---------------
Asian Investment Management
Services Ltd. and related
parties - 9,559,314 5.6%
----------------------------- -------------------- ----------- ---------------
Swire Beverages Holdings
Ltd. - 5,800,000 3.4%
----------------------------- -------------------- ----------- ---------------
1. Wang Tak Company Limited ("Wang Tak") holds 40,816,037 of
these shares and Mr. Tan Boon Seng and spouse hold 1,247,353. Mr.
Tan is a director of Wang Tak (a company wholly owned by Lee Hing
Development Limited where he is a substantial shareholder).
2. 14,855,612 held directly and 11,300 held indirectly by his
spouse.
4 November 2014
Enquiries:
PureCircle Limited (www.purecircle.com)
Magomet Malsagov - CEO +60 1 2388 8049
William Mitchell - CFO +44 7974 005163
RFC Ambrian Limited (NOMAD)
Stephen Allen +61 8 9480 2500
NOTES TO EDITORS
PureCircle is the global leader in production and marketing of
stevia ingredients. PureCircle leads the industry with development
of a vertically integrated, sustainable and natural supply chain.
Stevia is grown for PureCircle across South America, Africa, Asia
and the United States where it provides a sustainable cash crop for
farming communities. As part of the company's proprietary Stevia
3.0 TM portfolio, PureCircle has developed a broad range of
ingredient solutions and has pioneered such ingredients as Reb A,
SG95, and breakthrough ingredients such as PureCircle Alpha, Reb D,
Reb M as well as PureCircle Flavors. PureCircle also established
joint venture partnerships with sugar industry leaders to
innovatively combine stevia and sugar for natural sweetening
solutions and locally support customers. These global partnerships
include Tereos PureCircle Solutions, with Tereos and NPSweet A/S
with Nordzucker, in Europe. As part of its industry leadership,
PureCircle pioneered the trust mark Stevia PureCircle(R), which
educates consumers about the benefits of stevia and provides a
strong base of trust for both consumers and food and beverage
companies alike. The company also founded The Global Stevia
Institute, (www.globalsteviainstitute.com ) the leading resource
for accurate, science-based information on stevia led by a global
advisory board of internationally recognized health professionals.
PureCircle's global headquarters are in Kuala Lumpur, Malaysia.
PureCircle is listed on the London Stock Exchange AiM market under
the ticker symbol: PURE. For more information on PureCircle, visit:
www.purecircle.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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