31st Mar 2009 07:00
31 March 2009 STERLING GREEN GROUP PLC ("Sterling Green", the "Group" or the "Company") Placing and Director Shareholding
The Company announces today that it has raised £100,000, before expenses, from a Placing of 16,000,000 ordinary shares in the capital of the Company ("Ordinary Shares") at 0.625p per share (the "Placing Shares").
The proceeds of the Placing will provide additional working capital for the Group. In particular, the Group will apply these funds to specific marketing opportunities concerning its Tax Debts proposition.
Michael Edelson, Chairman, has subscribed for 8,000,000 of the Placing Shares and following the issue of these shares will have a beneficial interest in 34,050,390 Ordinary Shares, representing 11.21 per cent. of the enlarged issued share capital of the Company following the Placing.
Mr Jonathon Lyons has subscribed for the remaining 8,000,000 Placing Shares and following the issue of these shares will have a beneficial interest in 15,699,091 Ordinary Shares representing 5.17 per cent. of the enlarged issued share capital of the Company following the Placing.
Following the issue of the Placing Shares, the Company will have 303,675,390Ordinary Shares in issue. Application will be made for the Placing Shares to beadmitted to trading on AIM. Dealings in these shares are expected to commenceon 3 April 2009. Enquiries:Sterling Green Group plc Tel: 0161 975 5757 Michael Edelson John East & Partners Limited Tel: 020 7628 2200 Simon Clements/David Worlidge 2
vendorRelated Shares:
AMYT.L