Exercise of Warrants and Issue of Equity

RNS Number : 8874F
600 Group PLC
04 May 2011
 

Exercise of Warrants and Issue of Equity

 

The board of The 600 Group PLC ("600 Group" or "the Company") announces that on 4 May 2011, the Company issued 100,000 ordinary shares of one penny each ("Ordinary Shares"), raising GBP 20,000. The new Ordinary Shares were issued following the exercise of warrants ("Warrants") to subscribe for Ordinary Shares.

The Warrants were issued as part of the arrangements for the GBP2.5 million loan announced by 600 Group on 3 August 2010 and subsequently approved by shareholders at a general meeting of the Company held on 27 August 2010. The Warrants have an exercise price of 20 pence per new Ordinary Share and are valid for five years from 27 August 2010. Following this exercise, 11,700,000 Warrants remain outstanding to be exercised.

Application has been made for the new Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange. It is expected that admission and dealings will be effective and commence from 5 May 2011.

On admission to trading of the new Ordinary Shares, the Company will have 63,821,253 Ordinary Shares in issue with voting rights.

For further information, please contact:

 


The 600 Group PLC

Tel: 01924 415 000

Martyn Wakeman, Finance Director




Cadogan PR

Tel: 07771713608

Alex Walters

Tel: 020 7839 9260

Emma Wigan




finnCap

Tel: 020 7600 1658

Sarah Wharry

Ben Thompson






 


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