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Pan PacificAggregate (MXO)

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Wednesday 17 June, 2009

Pan PacificAggregate

Issue of Equity

RNS Number : 0103U
Pan Pacific Aggregates PLC
17 June 2009
 



PAN PACIFIC AGGREGATES PLC


ISSUE OF EQUITY


Following the placing announced on 22 May 2009 and to satisfy additional demand, the Board of Pan Pacific Aggregates plc (the 'Company') announces that it has today issued and allotted 133,333,333 new ordinary shares of 0.1p each ('New Ordinary Shares') (representing approximately 19.4 per cent. of the enlarged issued share capital of the Company) at a price of 0.15p per share to raise £200,000 (before expenses) pursuant to a placing. The net placing proceeds will be used for additional working capital purposes. 

The New Ordinary Shares are being placed under existing authorities to issue and allot shares.  


Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM and it is expected that dealings will commence on or around 19 June 2009. 

Following the placing the enlarged issued share capital of the Company will be 686,754,512 ordinary shares.


William Voaden, Managing Director, Pan Pacific Aggregates plc, commented:


'The additional funds raised today will be used by the Company to meet the costs associated with the re-opening of the Pumptown Quarry and for additional working capital purposes.'


For further information please see the Company's web site, www.panagg.com or contact:


Pan Pacific Aggregates plc

Tel: +44 (0) 20 7096 9580

William Voaden


Dowgate Capital Advisers Ltd

Tel: +44 (0) 20 7492 4777

James Caithie / Aaron Smyth


VSA Capital Limited

Tel: +44 (0) 20 7096 9589

Paul Backhouse


Lothbury Financial Limited

Tel: +44 (0) 20 7011 9411

Michael Padley / Libby Moss




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