RNS Number : 6424X
Sovereign Reversions PLC
19 August 2009
SOVEREIGN REVERSIONS PLC
('Sovereign' or the 'Company')
Result of Open Offer
The Board of Sovereign Reversions plc is pleased to announce the result of the Open Offer which closed at 11.00 am, Tuesday 18 August 2009.
As announced on 21 July 2009, 1,796,054 Offer Shares subject to the Open Offer had been conditionally placed with Rockhopper Investments Limited ('Rockhopper') subject to claw back to satisfy valid applications from Qualifying Shareholders pursuant to the Open Offer. The total number of Offer Shares applied for by Qualifying Shareholders under their basic pro rate entitlements amounted to 1,483,828 Offer Shares representing 82.6 per cent. of the total number of Offer Shares available. Following the completion of the Open Offer, 1,483,828 Offer Shares have now been placed with Qualifying Shareholders and 312,226 Offer Shares with Rockhopper.
The total issued share capital of the Company is now 17,134,816 Ordinary Shares of which 195,000 Ordinary Shares are held by the Company in treasury. Therefore, the total number of ordinary shares carrying voting rights in Sovereign is 16,939,855.
Following completion of the Open Offer, the Directors will have the following interests in Ordinary Shares:
|
Name of Director or Shareholder
|
Ordinary Shares held
immediately following the Open Offer
|
Percentage of
Total voting rights as enlarged by the Open Offer
|
|
|
|
|
|
Graeme Marshall
|
1,218,198
|
7.19
|
|
Rupert Pearce Gould
|
76,337
|
0.45
|
|
Robert Lo
|
62,150
|
0.37
|
|
Paul Spencer
|
33,900
|
0.20
|
Rockhopper Investments Limited will hold 1,574,026 Ordinary Shares, representing 9.29 per cent. of the total voting rights of the Company.
Application has been made to the London Stock Exchange for the 1,796,054 Offer Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on Thursday 20 August.
The definitions used in this announcement, unless otherwise stated, are as defined in the circular to shareholders dated 21 July 2009.
For further information please contact:
|
|
Charles Stanley Securities
Nominated Adviser and Broker
Phillip Davies / Ben Johnston / Carl Holmes
020 7149 6000
|
|
Wriglesworth Ltd
Financial Public Relations
Mark Baker
020 7427 1400
|
This information is provided by RNS
The company news service from the London Stock Exchange
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