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Issue of Equity

9th Feb 2015 16:23

GUSCIO PLC - Issue of Equity

GUSCIO PLC - Issue of Equity

PR Newswire

London, February 9

9 February 2015 Guscio PLC ("Guscio" or the "Company" or the "Group") Issue of Equity The Company is pleased to announce that it has raised £610,000 (beforeexpenses) through a placing via its broker, Peterhouse Corporate Finance, of7,625,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a priceof 8p per ordinary share ("the Placing"). The proceeds of the Placing will be used to increase the cash reserves of theCompany and accelerate its stated strategy of investments into the technologyand media sector. Richard Thompson, Non-Executive Chairman of the Company, has participated inthe placing and has invested £50,000 for 625,000 Ordinary Shares. Mr Thompson'stotal holding following this investment will be 1,192,107 Ordinary Sharesequivalent to 7.80 per cent. of the enlarged share capital of the Company.These shares are held through Amphitrite Limited which is wholly owned by MrThompson. Due to the fact that Mr Thompson is a Director of the Company, hisparticipation in the Placing constitutes a related party transaction as definedby the AIM Rules. The Directors of the Company other than Mr Thompson, havingconsulted with Sanlam Securities UK Limited, the Company's Nominated Adviser,consider that Mr Thompson's participation in the Placing is fair and reasonableinsofar as shareholders are concerned. Hargreave Hale Limited("Hargreave Hale")has invested £100,000 for 1,250,000Ordinary Shares. Following this investment, Hargreave Hale's total holding willbe 2,478,733Ordinary Shares, equivalent to 16.2per cent.of the enlarged sharecapital of the Company. Hargreave Hale currently holds1,228,733 Ordinary Sharesin theCompany, equivalent to 16.1 per cent. of the current issued share capitalof the Company. Therefore, as a substantial shareholder in the Company,Hargreave Hale's participation in the Placing also constitutes a related partytransaction under the AIM Rules. The Directors of the Company, having consultedwith Sanlam Securities UK Limited, the Company's Nominated Adviser, considerthat Hargreave Hale's participation in the Placing is fair and reasonableinsofar as shareholders are concerned. The Company has made an application for the New Ordinary Shares to be admittedto trading on AIM. It is expected that admission will become effective on 16February 2015 ("Admission"). Following the issue of the New Ordinary Shares, and for the purposes of theDisclosure and Transparency Rules, the Company's total issued share capital onAdmission will consist of 15,274,429 Ordinary Shares. The above figure may be used by shareholders as the denominator for thecalculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in, the Company, under theDisclosure and Transparency Rules. For further information please contact: Guscio PLCTony Humphreys / Marcus Yeoman 0203 056 4737 Sanlam Securities UK LimitedVirginia Bull / Simon Clements 020 7628 2200 Peterhouse Corporate Finance LimitedLucy Williams / Duncan Vasey 020 7469 0936

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GUSC.L
FTSE 100 Latest
Value8,054.98
Change-419.76