AssetCo plc Update

30/09/2011
 

AssetCo plc ("AssetCo" or the "Company") 
Completion of the Placing of £14 million and the Admission of the New Ordinary Shares



As previously announced, the Company confirms that the following Proposals have been completed:
 
·      A capital reorganisation and a 1 for 1,000 share consolidation.
·      The exchange of the Subsidiary Preference Shares in consideration for the issue of 3.75 million new ordinary shares of 10p each (the "New Ordinary Shares") by the Company.

·      A placing of 7 million New Ordinary Shares at 200p per New Ordinary Share to raise GBP14 million (before expenses).
·      A waiver of obligations under Rule 9 of the Code which would otherwise arise from the Share Exchange and Placing.
 
Accordingly, application has been made for 11,000,712 New Ordinary Shares to be admitted to AIM and it is expected that these shares will be admitted today.  This includes the Placing Shares and represents the entire issued ordinary share capital of the Company.  Trading in the Company's shares will continue to be suspended and not recommence until the Company has announced the audited figures for the period to 30 September 2011. 
 
In this announcement, unless inconsistent with the subject or context, the defined terms shall have the same meaning ascribed to them in the circular posted to shareholders on 9 September 2011.  Copies of the Scheme of Arrangement and Circular are available on the Company website at www.assetco.com.
 
 
Enquiries:

 
AssetCo plc

Tudor Davies: +44 (0) 207 614 5917

 
Arden Partners plc

Richard Day: +44 (0) 207 614 5917

Adrian Trimmings

Chris Thomas

 
Espirito Santo Investment Bank

John Llewellyn-Lloyd: +44 (0) 20 3429 1426

John Riddell

 
Citigate Dewe Rogerson

Fiona Tooley: Office: +44 (0) 121 362 4035

Mobile: +44 (0) 7785 703 523

 

This information is provided by RNS

The company news service from the London Stock Exchange

 
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