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Total Number of CVA Capitalisation Shares

25th Oct 2017 16:42

RNS Number : 6328U
Kin Group PLC
25 October 2017
 

RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

For immediate release

25 October 2017

 

 

Kin Group Plc ("the Company")

 

Total Number of CVA Capitalisation Shares

 

Following the Company's announcement on 24 October 2017, the latest date for creditors to prove claims for the purposes of the CVA passed at 1.00pm today.

 

As at that time the Company had received aggregate claims from creditors amounting to £2,302,002.94. Pursuant to the terms of the CVA the Company will issue 23,020,029,400 ordinary shares of 0.0001p each credited as fully paid at a price of 0.01p per share to those creditors who have made claims.

 

Completion of the Company's proposals including the Placing, CVA and Board changes are conditional on the lifting of the suspension in trading of the Company's ordinary shares on AIM and Admission.

 

Further announcements will be made as appropriate.

 

Note: Definitions in this announcement will, unless otherwise stated, have the same meaning as in the circular to shareholders dated 5 October 2017.

~ Ends ~

 

For further information please contact:

 

Donald Stewart (Chairman)

Kin Group Plc

020 7449 1000

Mark Brady/Neil Baldwin

SPARK Advisory Partners Limited (nominated adviser)

 

020 3368 3551

Eran Zucker/Fungai Ndoro

Peterhouse Corporate Finance Limited

020 7469 0930

 

 

 

 

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

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