14th Apr 2009 09:51
PAN PACIFIC AGGREGATES PLC
Issue of Equity
The Board of Pan Pacific Aggregates plc (the "Company") announces that it has today issued and allotted 15,000,000 new ordinary shares of 0.1p each at a price of 0.25p per share to raise £37,500 (before expenses) for working capital purposes. The 15,000,000 new ordinary shares are being placed under existing authorities to issue and allot shares.
As announced on 27 March 2009, the Board is in discussions with certain providers of funding to raise up to £400,000 (before expenses) through the issue of new ordinary shares in the Company at a price to be determined. These funds are expected to be raised following the General Meeting to be held later today at which shareholders of the Company are being asked to grant further authorities to the Directors to issue new shares. A further announcement will be made regarding the outcome of these discussions as soon as practicable.
It is expected that dealings in the 15,000,000 new ordinary shares will commence on or around 17 April 2009.
For further information please see the Company's web site, www.panagg.com or contact:
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Pan Pacific Aggregates plc |
Tel: +44 (0) 20 7096 9580 |
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William Voaden |
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Dowgate Capital Advisers Ltd |
Tel: +44 (0) 20 7492 4777 |
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James Caithie / Aaron Smyth |
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VSA Capital Limited |
Tel: +44 (0) 20 7096 9589 |
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Paul Backhouse |
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Lothbury Financial Limited |
Tel: +44 (0) 20 7011 9411 |
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Michael Padley / Libby Moss |
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