31st May 2007 12:30
Medsea Estates Group PLC31 May 2007 Medsea Estates Group plc 31 May 2007 Medsea Estates Group plc ("Medsea" or "the Company") Placing of New Shares to Raise £700,000 Medsea Estates Group PLC, the AIM-listed Spanish-based estate agency group, ispleased to announce the successful completion of a placing of new ordinaryshares in the Company. The Company has raised £700,000, before expenses, through a placing of 7,000,000new ordinary shares of £0.1 each ('New Shares') at a price of 10 pence per share(the 'Placing Price') with new investors (the 'Placing'). In addition the Company has issued 350,000 new ordinary shares of £0.1 each at aprice of 10 pence per share to HB Corporate in lieu of fees. Application will be made for the New Shares to be admitted to trading on AIM anddealings are expected to commence on or around 5 June 2007. The use of the net proceeds will be used to finance working capital, enhance theCompany's brand internationally and facilitate future acquisitions. Following the issue, the Company has 77,979,412 Ordinary Shares in issue. Two of the directors of the Company acquired shares as a result of the issue: Mr. Kenneth Burrage: 350,000 Ordinary SharesMr. Graham Jeffs: 50,000 Ordinary Shares Directors' interests in the shares of the Company now represent the followingpercentages of the issued Ordinary Share capital: +------------------------+------------------------+------------------------+ | Director | Number of Shares | Percentage of Issued | | | | Ordinary Share Capital | +------------------------+------------------------+------------------------+ |Mr. Tony Gatehouse and | 54,602,746 | 70.02% | |beneficial holdings | | | +------------------------+------------------------+------------------------+ |Mr. Juan-Carlos Martinez| 9,636,194 | 12.36% | +------------------------+------------------------+------------------------+ |Mr. Kenneth Burrage | 350,000 | 0.45% | +------------------------+------------------------+------------------------+ |Mr. Graham Jeffs | 50,000 | 0.06% | +------------------------+------------------------+------------------------+ For further information please contact: HB CorporateImran Ahmad/ Ed Hutton/ Rachel Kane +44 (0) 20 7510 8600 Weber Shandwick FinancialTerry Garrett/ Alex White/ John Moriarty +44 (0) 20 7067 0700 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Craven House Capital