ELECO plc
(“Eleco” or the “Company”)
Issue of Equity
The Company announces that it has entered into an agreement with a private investor to subscribe for 1,000,000 ordinary shares of 10p each in the Company at a price of 20.75p per ordinary share, conditional on Admission (defined below). The subscription is in accordance with allotment authorities granted by Shareholders at the Company’s Annual General Meeting on 30 June 2014.
Accordingly, an application has been made for 1,000,000 ordinary of 10p each to be admitted to trading on AIM (“Admission”). It is expected that Admission will occur at 8.00 a.m. on 21 August 2014. Following Admission, the Company’s issued share capital will consist of 74,864,627 ordinary shares of 10p each. The above figure of 74,864,627 may be used by shareholders 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 Financial Conduct Authority’s Disclosure and Transparency Rules
Enquiries:
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For further information please contact: |
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ELECO plc |
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John Ketteley, Executive Chairman |
Tel: 0207 422 0044 |
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Peckwater PR |
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Tarquin Edwards |
Tel: 07879 458 364 / 0207 808 7340 |
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Cenkos Securities plc |
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Nicholas Wells |
Tel: 0207 397 8900 |
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IOELLFIRTVIALIS