24th Apr 2015 07:00
PURECIRCLE LIMITED
("PureCircle" or "the Company")
Acquisition of remaining minority interest in PureCircle Jiangxi Co. Ltd.
PureCircle (LSE: PURE), the world's leading producer and marketer of high purity stevia ingredients, announces it has entered into a sale and purchase agreement for the acquisition of the remaining 1.38% equity interest in PureCircle Jiangxi Co. Ltd. ("PCJX") for a purchase consideration of US$1.8 million including costs. Due to recent regulatory developments in China's foreign ownership restrictions, PureCircle is now able to acquire the remaining interest of PCJX that it does not already own. PureCircle's current interest of 98.62% in PCJX is held through PureCircle Sdn Bhd ("PCSB"), itself a wholly owned subsidiary of the Company.
PCJX is principally involved in the manufacturing and sale of crude stevia extract with operations in China and is an important component of the Group's supply chain.
Consideration for the acquisition will be satisfied via the issue of 240,000 new ordinary shares of the Company. Following the issuance of 240,000 ordinary shares of the Company, the total issued shares (including treasury shares) now amounts to 170,106,294. Correspondingly, the total number of voting rights has increased to 170,075,594; this figure should be used by shareholders as a denominator in the calculation of the interest in the Company.
Application has been made for the shares to be admitted to AIM on 27 April 2015.
24 April 2015
For more information: | |
PureCircle Limited (www.purecircle.com) |
|
Magomet Malsagov, CEO | +603 2166 2206 |
William Mitchell, CFO | +44 7974 005 163 |
RFC Ambrian Ltd (NOMAD) | +61 8 9480 2500 |
Stephen Allen |
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