New Trend Lifestyle Group plc Issue of Equity and TVRs (1600V)
July 19 2018 - 4:54AM
UK Regulatory
TIDMNTLG
RNS Number : 1600V
New Trend Lifestyle Group plc
19 July 2018
19 July 2018
Issue of Equity
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
New Trend Lifestyle Group Plc
("NTLG" or the "Company" or the "Group")
Issue of New Ordinary Shares and Total Voting Rights
New Trend Lifestyle Group plc (Aim: NTLG), the Singapore-based
Feng Shui products and services group, is pleased to announce that
it has successfully completed, subject only to admission, an issue
of 50,000,000 new ordinary shares of 0.1p each ("New Ordinary
Shares") at a price of 1p per share (the "Issue") in part
settlement of a debt owed by the Group to a trade creditor.
The Issue is the result of discussions with Zue Zuen Enterprise
("ZZG"), a creditor of New Trend Lifestyle Pte Ltd ("NTLSG"), the
Company's subsidiary in Singapore. As at 31 December 2017, ZZG was
owed SGD2,296,605.37by NTLSG and has agreed to accept 50,000,000
New Ordinary Shares, as partial payment against this debt, at an
issue price of GBP0.01 per share (SGD0.01805 per share), equivalent
to GBP500,000 (SGD902,500). The balance owing to ZZG after the
Issue will now be deferred by 18 months, at which time ZZG can
either agree a payment plan with NTLSG or discuss the issue of
further new ordinary shares. As a result, ZZG will own
approximately 28.6 percent of the enlarged issued share capital of
the Company and has also entered into a Relationship Agreement with
the Company and the Company's Nominated Adviser which regulates the
shareholder's relationship with the Company.
Application will be made for the New Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence on
or about 25 July 2018.
By completing the Issue, the Group has reduced its current
liabilities and improved its net assets by GBP500,000 by settling
and deferring a significant trade creditor balance, which will
assist the Group as it continues its search for a suitable
acquisition. To date, the Group has not been able to identify a
suitable acquisition, and the search continues.
The New Ordinary Shares will represent approximately 28.6 per
cent. of the enlarged issued ordinary share capital following the
admission of the New Ordinary Shares to trading on AIM.
Following the issue of the New Ordinary Shares, the total number
of shares in issue is 175,000,000 Ordinary Shares. There are no
shares held in treasury. Therefore, the total number of voting
rights in the Company is 175,000,000. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest under the Disclosure and
Transparency Rules.
GBP1 = SGD1.805
END
For further information:-
New Trend Lifestyle Group Plc
Gregory Collier, Non-Executive Chairman +44 (0) 7830 182501
SPARK Advisory Partners Limited (NOMAD) +44 (0) 20 3368
Mark Brady/Neil Baldwin 3551
SI Capital Ltd (Broker)
Nick Emerson +44 (0)1483 413500
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END
IOELIFETDFIALIT
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