Statement re restoration of trading and placing (5193B)
April 17 2012 - 10:46AM
UK Regulatory
TIDMOAH
RNS Number : 5193B
Oak Holdings PLC
17 April 2012
17 April 2012
Oak Holdings plc
(to be renamed Pires Investments PLC)
("Oak" or the "Company")
Statement re:- restoration of trading and placing
Restoration of trading
Further to the announcement made earlier today the Company is
pleased to announce that restoration of trading on AIM in the
Company's shares is scheduled to occur at 07:30 on Wednesday 18
April 2012.
Investing Company
The Company will be classified as an investing company pursuant
to the AIM Rules. The Company's investing policy is set out in the
circular to shareholders dated 22 March 2012.
Pursuant to AIM Rule 15 the Company will have to make an
acquisition or acquisitions which constitute a reverse takeover
under AIM Rule 14 or otherwise implement the investing policy
approved at the general meeting to the satisfaction of the London
Stock Exchange within twelve months of becoming an investing
company, being 17 April 2013.
Capital reorganisation, re-admission of the existing shares and
placing shares
Following the approval of the capital reorganisation the par
value of the ordinary shares in the Company is GBP0.001. The
Company's ISIN and SEDOL remain unchanged as a result of the
Capital reorganisation.
Following the restoration of trading, the placing of
1,000,000,000 new ordinary shares of GBP0.001 will become
unconditional, consequently application for the 1,055,570,856
ordinary shares of GBP0.001 par value has been made to the London
Stock Exchange which is expected to occur 18 April 2012.
A further application for the new ordinary shares to be issued
pursuant to the CVA will be made in due course, when such shares
are allotted.
Further placing
In addition to the placing referred to above, the Company is
pleased to announce that, due to further demand from professional
and institutional investors, Rivington Street Corporate Finance, on
behalf of the Company, has raised an additional GBP700,000, before
expenses by way of a placing of 700,000,000 new ordinary shares in
the Company at a price of GBP0.001. Application has been made for
these shares to be admitted to trading on AIM on or around 24 April
2012.
The 700,000,000 new ordinary shares will rank pari passu with
existing ordinary shares.
Enquiries:
Oak Holdings plc Tel: 0207 580 7576
Peter Redmond, Director
Nominated Adviser Tel: 020 7148 7900
Cairn Financial Advisers LLP
Liam Murray / Avi Robinson
Broker Tel: 020 7562 3357
Rivington Street Corporate Finance
Limited
Jon Levinson / Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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