22nd Jan 2010 12:03
22 January 2010
Molectra Group Ltd
("Molectra" or "the Company")
Completion of Disposal of Molectra Australia and name change
Further to the announcements by the Company on 23 December 2009 and 13 January 2010, Molectra is pleased to announce the completion of the disposal (the "Disposal") of the business and assets of its operating subsidiary, Molectra Australia Pty Ltd. ("Molectra Australia").
In consideration for the Disposal, Molectra will receive 26,924,213 Molectra ordinary shares of no par value, which will be cancelled.
The corporate entity of Molectra Australia has itself been retained. The Company will attempt to sell Molectra Australia to a third party for the potential tax losses in that company. If this does not prove possible, it is intended that Molectra Australia will be liquidated.
Name change to Baylon Holdings Limited
Further to completion of the Disposal the Company will change its name to Baylon Holdings Limited, all other Company's details remain unchanged including its ISIN code (GB00B0T2CP59) and its AIM symbol (MOLE).
Total Voting Rights
Following cancellation of the 26,924,213 Molectra ordinary shares, the total number of issued ordinary shares in the Company will be 146,300,787 ordinary shares. The Company does not hold any ordinary shares in treasury. This figure may be used by shareholders in the Company 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 Service Authority's Disclosure and Transparency Rules.
For further information please contact:
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Molectra Group Limited
Paul Gazzard
Rodger Sargent
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01725 510 383
020 7355 7662
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Arbuthnot Securities Limited
Antonio Bossi
Ed Groome
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020 7012 2000
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Related Shares:
LBB.L