Issue of Equity

RNS Number : 4783K

Pires Investments PLC

30 July 2013

 



30 July 2013

Pires Investments Plc ("Pires" or the "Company")

Issue of Equity

Pires Investments ("Pires" or the "Company"), the AIM quoted natural resource investment company, is pleased to announce that the Company has raised £500,000 by way of an issue of 500,000,000 new ordinary shares of 0.1 pence each (the "Placing Shares") at a placing price of 0.1 pence per share.

The placing price represents a 43% premium to the closing mid-market share price on 29 July 2013.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.1 pence each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after the date of issue of the Placing Shares.

The Company has applied for admission of the Placing Shares to trading on AIM, a market operated by the London Stock Exchange plc (the "Admission"). It is expected that Admission will take place and that trading in the Placing Shares will commence on or around 5 August 2013.

The Placing is conditional upon Admission becoming effective.

Peter Redmond, the Chairman of Pires said of the placing:  "We are very pleased that we have been able to attract significant new investment funds at a premium to the current share price. These funds will enable the Company materially to progress its proposed investment strategy."

For further information, please contact:
Pires Investments Plc	Tel: [phone]
Peter Redmond
Cairn Financial Advisers LLP	Tel: [phone]
(Nominated Adviser)
Liam Murray / Avi Robinson
Peterhouse Corporate Finance Limited	Tel: [phone] 469 0936
(Corporate Broker)
Jon Levinson/Lucy Williams

 

END

 

 

IOENKKDNDBKDOON