2nd Sep 2010 09:30
For immediate release 2 September 2010
Capcon Holdings ("Capcon" or the "Company")
Redemption of loan stock
The Company announces that on 27 August 2010 it issued 86,956 new ordinary shares of 1p each in the capital of the Company (the "New Ordinary Shares") pursuant to the redemption of £25,000 of 10% redeemable guaranteed secured loan stock ("Loan Stock") which was issued by the Company on 29 March 2006 and which is held by GHC Nominees Limited ("GHC"). The Loan Stock was originally issued pursuant to the terms of a loan stock instrument executed by the Company on 29 March 2006 and subsequently varied by supplemental instruments dated 24 May 2008 and 23 March 2010. The redemption date of the Loan Stock is 1 April 2011.
The Board of Capcon has agreed to redeem the £25,000 of Loan Stock held by GHC in cash. The beneficial owner of the Loan Stock is Robin Boyle. In addition GHC have been issued with 86,956 New Ordinary Shares pursuant to the re-investment of funds from the redemption of the Loan Stock.
Application has today been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 7 September 2010.
Following Admission the revised percentage holdings of the directors of Capcon are as follows:
|
|
Number of ordinary shares held |
Percentage of issued share capital |
|
|
|
|
|
Paul Jackson |
3,734,475 |
30.65% |
|
Kenneth Dulieu |
6,070,225 |
49.81% |
|
Cliff Cavender |
688,350* |
5.65% |
*418,350 of the ordinary shares beneficially owned by Cliff Cavender are held in his self-invested personal pension
As a result of the issue of the New Ordinary Shares the issued share capital of the Company now comprises 12,185,598 ordinary shares of 1p each in the capital of the Company. There are no shares held by the Company in treasury and there is no other class of share in issue which has voting rights. Consequently the Company's total number of voting rights is 12,185,598 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify if their interest in, or a change to their interest in the Company, under the FSA's Disclosure and Transparency Rules.
For further information please contact:
Capcon Holdings plc Cliff Cavender, Managing Director Tel: +44 (0)870 067 5050
Allenby Capital Limited (nominated adviser and broker) Nick Naylor Nick Athanas Tel: +44(0)20 3328 5656
Related Shares:
MTR.L