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DJ FT8 plc Clarification Statement

 
TIDMGFT 
 
FT8 plc 
 
                           ("FT8" or the "Company") 
 
  Clarification Statement Re: Issue of Equity Announcement dated 18 May 2016 
 
On 18 May 2016 (the "May Announcement"), the Company announced, inter alia, the 
"successful completion of a private placement" of 24,763,753 new ordinary share 
(the "New Shares") at a price of GBP0.007 (the "Issue Price") to raise GBP173,346 
(US$250,000) (the "New Funds"). 
 
The Company wishes to clarify that, whilst the May Announcement was correct in 
that the Company had agreed to allot and issue the New Shares and had received 
the New Funds, the Company did not effect, and has not since the May 
Announcement effected, the allotment or issue of any of the New Shares. 
 
As such the Company remains unconditionally obliged to issue the New Shares at 
the Issue Price to the subscriber who provided the New Funds. 
 
The Company has become aware that the Issue Price is below the current nominal 
value of its ordinary shares of GBP0.01 each and that it would therefore not be 
possible to issue the shares fully paid at a discount to the nominal value of GBP 
0.01. As such the Company intends to dispatch a circular to shareholders as 
soon as possible to seek shareholder approval to a reorganisation of the 
Company's share capital to reduce the nominal value of each ordinary share from 
GBP0.01 to GBP0.001 without altering the number of ordinary shares in issue. 
Subject to the completion of such reorganisation the New Shares will be 
allotted and issued. 
 
A further update will be provided as soon as practicable. 
 
In light of the above clarification, the Company confirms that the issued share 
capital of the Company consists of 879,812,559 ordinary shares of GBP0.01 each 
with voting rights. FT8 does not hold any shares in treasury. Therefore the 
total number of voting shares in FT8 plc is 879,812,559. 
 
The above figure of 879,812,559 may be used by shareholders as the denominator 
if they require to notify their interest in, or a change to their interest in 
FT8 plc under the FCA's Disclosure and Transparency Rules. 
 
Enquiries: 
 
Phillip Pryor, FT8 Plc                        +60 19 212 8026 
Sean McShane, FT8 Plc                   +18 172 718 169 
Katy Mitchell, WH Ireland Limited      +44 161 832 2174 
 
 
 
END 
 

(END) Dow Jones Newswires

December 21, 2016 10:42 ET (15:42 GMT)