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New Trend Lifestyle (NTLG)

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Friday 26 July, 2019

New Trend Lifestyle

Issue of New Ordinary Shares,Total Voting Rights

RNS Number : 9147G
New Trend Lifestyle Group plc
26 July 2019
 

26 July 2019

Issue of Equity

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

 

New Trend Lifestyle Group Plc

("NTLG" or the "Company" or the "Group")

 

Issue of New Ordinary Shares and Total Voting Rights

 

New Trend Lifestyle Group plc (Aim: NTLG), the Singapore-based Feng Shui products and services group, is pleased to announce that it has successfully completed, subject only to admission, an issue of 50,000,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a price of 0.42p per share (the "Issue") in full settlement of a debt owed by the Group to a trade creditor as at 30 April 2019. The issue price represents a significant premium to the mid-market closing price of 0.2p on 25 July 2019.

The Issue is the result of discussions with Zishange Capital Management Pte Ltd ("ZSG"), a creditor of New Trend Lifestyle Pte Ltd ("NTLSG"), the Company's subsidiary in Singapore. As at 30 April 2019 ZSG was owed SGD353,317.21 by NTLSG and has agreed to accept 50,000,000 New Ordinary Shares, as full payment against this debt, at an issue price of £0.0042 per share (SGD0.00707 per share).  As a result, ZSG will own approximately 22.22 per cent. of the enlarged issued share capital of the Company and has also entered into a Relationship Agreement with the Company and the Company's Nominated Adviser which regulates the shareholder's relationship with the Company.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or about 2 August 2019.

By completing the Issue, the Group has reduced its current liabilities and improved its net assets by £207,834 by settling a significant trade creditor balance.

The New Ordinary Shares will represent approximately 22.2 per cent. of the enlarged issued ordinary share capital following the admission of the New Ordinary Shares to trading on AIM.

Following the issue of the New Ordinary Shares, the total number of shares in issue is 225,000,000 Ordinary Shares. There are no shares held in treasury.  Therefore, the total number of voting rights in the Company is 225,000,000. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest under the Disclosure and Transparency Rules.

£1 = SGD1.7

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For further information:-

 

New Trend Lifestyle Group Plc     

Gregory Collier, Non-Executive Chairman

            

+44 (0) 7830 182501

SPARK Advisory Partners Limited (NOMAD)          

Mark Brady/Neil Baldwin       

              

+44 (0) 20 3368 3551

SI Capital Ltd (Broker)

Nick Emerson

+44 (0)1483 413500

 


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