26th Feb 2007 07:01
HML Holdings PLC26 February 2007 HML Holdings plc ("the Company" or "HMLH") HML Holdings plc (AIM: HMLH), a leading provider of property management,insurance and ancillary services to residential property blocks, announces thatit has been informed by LTC Holdings plc ("LTC") that LTC intends to exercise,in part, its right to convert loan notes it holds in the Company ("the LoanNotes"). LTC intends to convert Loan Notes to the value of £1,000,000 ("the Conversion"),which, under the terms of the agreement between LTC and the Company, will resultin the issue to LTC of 4,000,000 ordinary shares of 1.5p each in the Company("Ordinary Shares"). LTC currently owns 3,845,931 Ordinary Shares, representing31.02 per cent. of the ordinary share capital of the Company. After theConversion the issued share capital of the Company will be 16,396,762 OrdinaryShares and LTC will own 7,845,931 Ordinary Shares, representing 47.85 per cent.of the Company's ordinary share capital. The Panel on Takeover and Mergers has confirmed that, as was detailed in theadmission document published by the Company on 26 June 2006, this increase inthe interests of LTC in the share capital of the Company will not result in amandatory offer by LTC under Rule 9 of the Takeover Code. It is anticipated that the new Ordinary Shares issued pursuant to the Conversionwill be admitted to trading on 5 March 2007. For further information: HML Holdings PLC: 020 7352 5179Robert Plumb, chief executive Tavistock Communications Group: 020 7920 3150Jeremy Carey, Richard Sunderland, Rachel Drysdale Smith & Williamson Corporate Finance Limited: 020 7131 4000Azhic Basirov, Jo du Plessis This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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