RNS Number : 9285A
AIM Investments PLC
16 October 2009
16 October 2009
AIM Investments plc
("AIM Investments" or 'the Company')
Capitalisation of loan
The Directors announce that a loan provided by Maji Capital Partners Group plc ("Maji") to the Company amounting to £140,669.85 (representing total amounts lent to the Company up to 31st August 2009) has been converted into new ordinary shares in the Company at the price of 0.874 pence per new ordinary share, being the Company's average closing share price over the previous 3 months (1 June 2009 to 31 August 2009).
Accordingly, application will be made for the 16,094,948 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 23 October 2009.
The new ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment the total issued share capital of the Company will increase to 94,074,360 ordinary shares.
Following this transaction, Maji's beneficial interest in the Company is 16,094,948 ordinary shares, representing 17.1% of the enlarged share capital.
The issue of these new ordinary shares to Maji is a related party transaction under the AIM Rules. Where a company whose shares are listed on AIM enters into a Related Party Transaction, AIM Rule 13 requires the directors of the Company to consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
The directors (excluding Alexandra Eavis) consider, having consulted with ZAI Corporate Finance Ltd, the Company's Nominated Adviser, that the terms of the related party transaction are fair and reasonable insofar as the Company's shareholders are concerned.
For further information, please contact:
This information is provided by RNS
The company news service from the London Stock Exchange