5th Oct 2009 15:00
FOR IMMEDIATE RELEASE 05 October 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
ALLOTMENT OF NEW ORDINARY SHARES
The Board of RAM Investment Group plc ("RAM") announces that it has today agreed an allotment of 527,273 new ordinary shares of 1p each ("Ordinary Shares") at a price of 5.5p per Ordinary Share to related parties in lieu of services fees from February 2009 to June 2009.
In addition, the Company also announces an allotment of 47,058 new Ordinary Shares of 1p each at a price of 8.5p per Ordinary Share to its non-executive directors in lieu of their fees for July 2009 to August 2009.
Application will be made for 574,331 new Ordinary Shares in RAM, which, when issued, will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM. This is expected to be on 9 October 2009.
The application for new Ordinary Shares includes 345,455 shares to Equity for Growth Limited, a company which Tim Baldwin is a director and exercises management control. Also included in the allotment are 114,438 Ordinary Shares to 21 Vision Limited, a company which Edward Adams is a director and exercises management control and 114,438 Ordinary Shares to Iain Manley.
On completion of the above transactions:
Tim Baldwin will have an interest in 4,823,566 Ordinary Shares representing 8.48% of issued share capital of RAM.
Edward Adams will have an interest in 1,114,438 Ordinary Shares representing 1.96% of the issued share capital of RAM.
Iain Manley will have an interest in 114,438 Ordinary Shares representing 0.20% of the issued share capital of RAM.
For further information please call:
Tim Baldwin RAM Investment Group Plc 0207 518 4303
Sandy Jamieson Libertas Capital Corporate Finance Limited 0207 569 9650
Monisha Varadan Rivington Street Corporate Finance Limited 0207 562 3389
Related Shares:
RAM.L