1st Dec 2014 08:00
The Stanley Gibbons Group plc ("Stanley Gibbons" or the "Company")
Issue of Equity
1 December 2014
Under the terms of the acquisition in 2013 of The Fine Art Auction Group Limited ("TFAAG") by Noble Investments (UK) plc ("Noble"), the Company's wholly owned subsidiary, shareholders in TFAAG were able to opt to accept an earn-out based on the future financial performance of TFAAG (the "TFAAG Earn-Out").
As a result of TFAAG achieving its Year 2 earn-out condition, individuals that accepted the TFAAG Earn-Out will be paid their third and final tranche, which under the terms of the acquisition of Noble by Stanley Gibbons, is partially payable in Stanley Gibbons ordinary shares of 1p each ("Ordinary Shares").
Accordingly, application has been made for 126,260 Ordinary Shares in Stanley Gibbons to be admitted to trading on AIM ("Admission"). These Ordinary Shares will rank pari passu with the existing issued Ordinary Shares of the Company and dealings are expected to commence on Monday 8 December 2014.
Following Admission the Company's total issued share capital will comprise 46,815,707 Ordinary Shares.
Enquiries:
The Stanley Gibbons Group plc | |
Richard Purkis, Company Secretary | Tel: +44 (0) 1534 766711 |
www.stanleygibbons.com | |
Peel Hunt LLP, Nomad / Broker | |
Dan Webster / Richard Brown / George Sellar | Tel: +44 (0) 20 7418 8900 |
Tavistock, Financial PR | |
Lulu Bridges / Teresa Towner | Tel: +44 (0) 20 7920 3150 |
Related Shares:
SGI.L