15th Jul 2010 12:51
Press Release |
15 July 2010 |
Pan Pacific Aggregates plc
("PPA" or the "Company")
Placing of Shares
Pan Pacific Aggregates plc (AIM: PPA), an operator of quarries in British Columbia, today announces that on 14 July 2010 the Company issued and allotted 750,000,000 new ordinary shares of 0.1 pence each ("New Ordinary Shares") (representing approximately 46 per cent. of the current issued share capital of the Company) at a price of 0.2 pence per share, to raise £1,500,000 (before expenses) (the "Placing").
The net placing proceeds will put the Company in a strong position to continue to pursue its strategy in and around the Fraser Valley, British Columbia by developing a robust local position, both organically and through acquisition.
New Ordinary Shares were subscribed for by Euan McAlpine a Director of the Company, and his discloseable interests are as set out below:
Director |
New Ordinary Shares subscribed |
Shareholding immediately following the Placing |
Percentage of enlarged issued share capital |
Euan McAlpine |
62,500,0000 |
93,680,555 |
3.95% |
Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission of the New Ordinary Shares will occur on 21 July 2010. As a result of the Placing, the Company will have 2,373,981,242 ordinary shares in issue.
- Ends -
For further information:
Pan Pacific Aggregates plc |
|
William Voaden, Managing Director |
Tel: +44 (0) 20 7096 9580 |
|
|
Matrix Corporate Capital LLP |
|
Louis Castro / Tim Graham |
Tel: +44 (0) 20 3206 7000 |
VSA Capital Limited |
|
Paul Backhouse |
Tel: +44 (0) 20 7096 9589 |
Media enquiries:
Abchurch Communications Limited |
|
Nick Probert / Quincy Allan |
Tel: +44 (0) 20 7398 7715 |
www.abchurch-group.com |
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