Sorbic International PLC Issue of Equity (0533Z)
December 08 2014 - 2:00AM
UK Regulatory
TIDMSORB
RNS Number : 0533Z
Sorbic International PLC
08 December 2014
Press Release 8 December 2014
Sorbic International plc
("Sorbic" or the "Company")
Issue of Equity
Sorbic International plc (AIM:SORB), a leading sorbates producer
in China, today announces that the Company has issued a total of
6,000,000 ordinary shares of 0.01 pence each ("Ordinary Shares") at
4 pence per share for a total consideration of GBP240,000.
The shares will be subscribed by Mr Les Allen, who currently has
a holding of 166,000 shares in the Company. Upon the subscribing
the additional shares, Mr Les Allen will hold in total 6,166,000
Ordinary Shares, representing 9.96% of the enlarged share
capital.
Application has been made for the 6,000,000 Ordinary Shares to
be admitted to AIM and it is expected that admission will be
effective and trading will commence on 11 December 2014. Following
the admission of the new shares to trading, the total number of
Ordinary Shares and voting rights in the Company will be
61,885,980. 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 in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
- Ends -
For further information:
Sorbic International plc Tel: +44 (0)7768
031 454
John McLean, Chairman www.sorbicinternational.com
finnCap (Nomad)
Geoff Nash / Kate Bannatyne Tel: +44 (0) 20
7220 0500
Hybridan LLP (Broker)
Claire Louise Noyce Tel: +44 (0) 20
3713 4581
Media enquiries:
Abchurch Communications
Henry Harrison-Topham / Tel: +44 (0)20 7398
Canace Wong 7714
canace.wong@abchurch-group.com www.abchurch-group.com
Notes to Editors: www.sorbicinternational.com
About Sorbic International plc
Sorbic International's principal activity is the production and
sale of the food preservatives Sorbic Acid and Potassium Sorbate
from its base in Linyi City, Shandong Province, Peoples Republic of
China. Approximately half of Sorbic International's production is
sold to overseas markets and half into the Chinese domestic
market.
Sorbic Acid is a naturally occurring organic compound that is
used in all kinds of foods for its anti-decomposition and
anti-fungus function and also in grains, medicines, cosmetics,
toothpaste, tobacco, animal feed, latex, paper-manufacturing and
pesticides. Potassium Sorbate is used to inhibit moulds and yeasts
in many foods, such as cheese, wine, yogurt, dried meat, baked
goods, cosmetics and pharmaceuticals.
Sorbic International operates through its wholly owned
subsidiary Linyi Van Science and Technique Co., Ltd ("LVST").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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