24th Sep 2014 07:39
LONDON (Alliance News) - CA Sperati PLC Wednesday said it has agreed to issue two tranches of shares in the company to settle a case involving a former director's termination and a broker agreement.
The company, which this week outlined plans to shift away from its traditional buttons and bows making business towards investing in the oil and gas industry, said it has agreed to issue 1.5 million shares at 3 pence per share to settle its termination agreement with former director Kevin Jackson. The total value of the share issue is GBP44,000.
In addition, the company said it has issue 125,000 shares at 4 pence per share in order to settle its broker agreement with Peterhouse Corporate Finance Ltd. The aggregate value of the shares is GBP5,000 and covers Peterhouse's annual retainer to act as the company's broker.
CA Sperati shares were trading higher in early trade, down 4.9% to 2.85 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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