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Admission to AIM

4th Jun 2013 08:06

RNS Number : 2176G
Superglass Holdings PLC
04 June 2013
 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, OR ANY OF THE OTHER EXCLUDED TERRITORIES.

 

 

 

SUPERGLASS HOLDINGS PLC

 ("Superglass" or the "Company")

 

 

First Day of Dealings on AIM and

Completion of Restructuring and £12.9 million Placing

 

Superglass is pleased to confirm the admission of the Company's Ordinary Shares to trading on AIM at 8.00am today, 4 June 2013. The Ordinary Shares are now no longer traded on the Main Market and their listing on the Official List has been cancelled.

 

The restructuring of the Company's debt, the Placing and the other Proposals, the terms of which are set out in the Circular issued by the Company on 3 May 2013, are now complete.

Following Admission, the Company's cash balances total approximately £9.2 million and the level of core debt is substantially reduced to £2.5 million, which is subject to a bullet repayment due on 30 April 2018.

 

Superglass now has a considerably strengthened, long term capital structure as a platform upon which to build a sustainable, strong and resilient business that is better positioned to compete more effectively in challenging markets.

 

The Placing comprised the issue of 25,800,000 New Ordinary Shares at a price of 50 pence per New Ordinary Share. This is the equivalent of 2 pence per Ordinary Share prior to the Share Consolidation, which became effective on Admission, and comprised every 25 Post-Capital Reorganisation Shares being consolidated into one New Ordinary Share.

Disclosures on the Company as required by AIM Rule 26 can be found at: www.superglass.co.uk/investor_center/ 

 

Capitalised terms used in this announcement have the meanings given to them in the Circular.

 

For further information please contact:

 

Superglass Holdings PLC

Alex McLeod, Chief Executive Officer

Allan Clow, Chief Finance Officer

 

01786 451 170

Buchanan

Diane Stewart

Carrie Clement

 

0207 466 5000

0131 226 6150

N+1 Singer

Sandy Fraser

Richard Lindley

 

0131 603 6873

0113 388 4789

 

Nplus1 Singer Advisory LLP

Nplus1 Singer Advisory LLP, which is a member of the London Stock Exchange, is authorised and regulated in the UK by the Financial Conduct Authority, is acting as sponsor, financial adviser, nominated adviser and broker to Superglass Holdings plc in connection with the Proposals. It should be noted that, in connection with the Proposals, Nplus1 Singer Advisory LLP is acting exclusively for Superglass Holdings plc and no one else. Nplus1 Singer Advisory LLP will not be responsible to anyone other than Superglass Holdings plc for providing the protections afforded to clients of Nplus1 Singer Advisory LLP nor for advising any other person on the transactions and arrangements described in this announcement or the Circular. No representation or warranty, express or implied, is made by Nplus1 Singer Advisory LLP as to any of the contents of this announcement or the Circular. Apart from the liabilities and responsibilities, if any, which may be imposed on Nplus1 Singer Advisory LLP by the Financial Services and Markets Act 2000 or the regulatory regime established under it, Nplus1 Singer Advisory LLP accepts no responsibility whatsoever for the contents of this announcement or the Circular or for any other statement made or purported to be made by it or on its behalf in connection with Superglass Holdings plc, the Existing Ordinary Shares, the New Ordinary Shares or the Proposals. Nplus1 Singer Advisory LLP accordingly disclaims all and any liability whatsoever whether arising in tort or contract or otherwise (save as referred to above) which it might otherwise have in respect of this announcement or the Circular or any such statement.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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