Belvoir Lettings PLC Director Dealing (4372A)
June 07 2016 - 5:52AM
UK Regulatory
TIDMBLV
RNS Number : 4372A
Belvoir Lettings PLC
07 June 2016
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
SINGAPORE, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION
IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN BELVOIR
LETTINGS PLC IN ANY JUSRISTICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL.
For Immediate Release 7 June 2016
BELVOIR LETTINGS PLC
(the "Company", "the Group" or "Belvoir")
Additional Subscription to raise GBP70,000
Directors' Dealing
Further to the announcements made earlier today regarding the
Placing and Acquisition (together the "Prior Announcements"),
Belvoir is pleased to announce that certain Directors and key
management of the Company have agreed to subscribe for a total of
62,500 new Ordinary Shares of 1 pence each in the Company
("Ordinary Shares") on the same terms as the Placing, being 112
pence per share (the "Subscription" and the "Subscription
Shares").
The Subscription has raised gross proceeds of approximately
GBP70,000 and is in addition to the GBP2.5 million raised through
the Placing as announced earlier today.
The Subscription will utilise the Company's existing authorities
to allot Ordinary Shares and therefore does not require shareholder
approval. Completion of the Subscription is conditional on
admission of the Subscription Shares to trading on AIM. The
Subscription Shares will rank pari passu in all respects with the
existing Ordinary Shares.
In addition, the Company is pleased to announce that Mike
Goddard, Executive Chairman and CEO of Belvoir, has sold GBP650,000
of Existing Ordinary Shares at the Placing Price.
The Directors' interests as at today and following completion of
the Subscription and the Placing are as follows:
As at the date
of this Announcement Upon Admission
Director Number Percentage Subscription Shareholding Percentage
of Existing of Existing Shares following of the
Ordinary Ordinary the Subscription enlarged
Shares Shares and the share
Fundraising capital(**)
-------------- ------------- ------------- ------------- ------------------ -------------
Mike Goddard 7,773,922 24.8% Nil 7,193,565 21.37%
Louise
George 17,250 0.05% 17,857 35,107 0.10%
Andrew
Borkowski 15,615 0.05% 8,929 24,544 0.07%
Nick Leeming 15,500 0.05% 8,929 24,427 0.07%
-------------- ------------- ------------- ------------- ------------------ -------------
** Following completion of the Subscription and the Placing
Admission to AIM
Application for admission to trading on AIM of the Subscription
Shares ("Admission") has been made and it is expected that
Admission will become effective and dealings in the Subscription
Shares will occur on 8 June 2016.
The number of Ordinary Shares in the capital of the Company in
issue and number of voting rights following admission of all of the
Placing Shares and Subscription Shares will be 33,660,160. The
above figure may be used by Shareholders as the denominator for the
calculations by which they will determine whether they are required
to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the Prior
Announcements.
For further details:
Belvoir Lettings PLC 01476 584900
Mike Goddard, Chairman and CEO investorrelations@belvoirlettings.com
Louise George, Chief Financial
Officer
Cantor Fitzgerald Europe
Rick Thompson, Phil Davies, Will
Goode, Michael Reynolds
Corporate Finance 0207 894 7000
Buchanan
Charles Ryland, Victoria Watkins,
Madeleine Seacombe 0207 466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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June 07, 2016 05:52 ET (09:52 GMT)