DJ Greencare Capital PLC Placing and Issue of Equity
RNS Number : 5586R
Greencare Capital PLC
30 June 2020
30 June 2020
Greencare Capital plc
("Greencare" or the "Company")
Placing and Issue of Equity
Greencare Capital plc is pleased to announce that it has raised GBP1,367,500 by way of a placing of 2,735,000 new ordinary shares of 1p each ("Placing Shares") at a price of 50 p per share. The proceeds of the placing will be used to provide investment funds for the Company .
At the time of the Company's admission to AQSE Growth Market, t he Directors advised that they were aware of a number of potentially attractive investment opportunities and they had progressed one such investment to the position that the Directors were hopeful that an investment could be made shortly after Admission, subject to appropriate due diligence.
As described in the Company's Admission Document, t he target investee company has a market leading exclusive position in the distribution of c annabis products in its home country, one of the largest European economies. The exclusive distribution capability is across more than 30,000 points of sale and the investee company is in discussion to expand these points of sale by approximately 15,000 more. As a result, the investee company would be the largest single entity distributing into its home market. The Directors are optimistic that they will shortly be able to make an investment into the target investee company, subject to due diligence, and they will update the market in due course.
Application will be made for the admission of 2,735,000 Placing Shares to trading on AQSE Growth Market ("Admission") and it is expected that this will occur on or around 3 July 2020. The Placing Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.
Following the issue of Placing Shares, the Company will have 14,792,374 ordinary shares in issue. The Company has no shares in treasury, therefore this figure may be used by shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
The directors of the Company take responsibility for this announcement.
Greencare Capital plc Fabio Ca rretta +39 345 23 59 968 Cairn Financial Advisers LLP AQSE Corporate Adviser Jo Turner / James Lewis +44 20 7213 088 5
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(END) Dow Jones Newswires
June 30, 2020 07:44 ET (11:44 GMT)