New Funding

RNS Number : 9484H

Dukemount Capital PLC

08 December 2020

 

Dukemount Capital Plc

08 December 2020

Dukemount Capital Plc

("Dukemount"  or the "Company")

New Funding

Dukemount Capital plc, the property management and long dated income specialist is pleased to announce that £500,000 of new financing has been secured by way of a fundraising undertaken by the Company's broker, Peterhouse Capital Limited (Peterhouse) and which involves a combination of a subscription by Chesterfield Capital Limited (Chesterfield) of £500,000 by the issue of a new Convertible Loan Note (the "Notes") and the simultaneous sale by Chesterfield of 97,000,000, or £630,500 worth of shares at 0.65p to new investors introduced by Peterhouse.

The additional funds will be used for working capital and due diligence on significantly larger long-term income deals which the board will be assessing and which it believes could be material to the Company.

As a result of the share sale, Chesterfield now holds 4,666,666 shares representing approximately 1.03% of the total issued share capital of the Company. The Notes which have a 6-month term, are interest free, unsecured and are convertible at a price of 0.65p. Chesterfield intends to convert the Notes as soon as practically possible. Following a full conversion of the Notes, Chesterfield would hold a total of 81,589,743 shares which would equate to 15.36% of an enlarged issued share capital of the Company.

The issue of the Notes is deemed to be a related party transaction as Dukemount Chairman, Geoffrey Dart is a director and indirect shareholder of Chesterfield Capital.

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article   7 of EU Regulation 596/2014.  

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Geoffrey Dart
2.	Reason for the Notification
a)	Position/status	Chairman
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Dukemount PLC
b)	LEI	213800IVPZ932NP24O44
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1p
	Identification code	GB00B6WZDF03
b)	Nature of the transaction	Sale of Ordinary Shares
c)	Price(s) and volume(s)	Sale of Ordinary Shares Price(s) Volume(s) £0.0065 97,000,000
d)	Aggregated information: ·Aggregated volume ·Price	n/a
e)	Date of the transaction	7 December 2020
f)	Place of the transaction	London Stock Exchange

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

 For further information, please visit www.dukemountcapitalplc.com or contact:

Dukemount Capital Plc Via St Swithins PR Geoffrey Dart / Matthew Thompson St Swithins PR (Media and Investor Enquiries) Tel: [phone] Gary Middleton [e-mail] Peterhouse Capital Limited Tel: [phone] Lucy Williams/Duncan Vasey

 

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