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Placing of Shares

15th Jul 2010 12:51

RNS Number : 4143P
Pan Pacific Aggregates PLC
15 July 2010
 



 

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

[email protected]

www.abchurch-group.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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