Empresaria confirms oversubscribed placing and director shareholding
A total of 4,456,285 Placing Shares have been placed at a Placing Price of 75 pence per Placing Share, representing a discount of approximately 6 per cent. to the average closing price last week and a discount of approximately 12 per cent. to the closing price on 12 October 2015, being the last practicable date before this announcement.
Based on the Placing Price, the gross proceeds of the Placing are £3.3 million. The Placing Shares will represent approximately 9 per cent. of the enlarged issued ordinary share capital of the Company.
The Group also announces that Anthony Martin, Non-Executive Chairman, has subscribed for Placing Shares at the Placing Price as set out below:
Director Beneficial holding of Ordinary Shares before Placing Number of Placing Shares of 5p each to be purchased Beneficial holding of Ordinary Shares after Placing % of expected Enlarged Share Capital
Anthony Martin 12,924,595 1,000,000 13,924,595 28.41
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that admission to AIM will become effective and that dealings on AIM will commence in the Placing Shares on 19 October 2015.
All terms in this announcement have the meaning given to them in the announcement made by the Company at 1:25 p.m. on 13 October 2015 unless otherwise defined herein.