DJ Wheelsure Holdings (WHLP) Result of Subscription
26 October 2016
Wheelsure Holdings Plc
("Wheelsure" or the "Company")
Results of subscription
Further to the announcement made on the 19th October 2016, Wheelsure (ISDX: WHLP), the industrial engineering company, is pleased to announce the subscription (the "Subscription") of 10,600,000 new ordinary shares (the "Subscription Shares") to raise a total of GBP106,000 (before expenses) has been completed. All Subscription Shares have been subscribed for at a price of 1 penny per Subscription Share (the "Subscription Price").
It is expected that the Subscription Shares will be admitted to trading on or around 26th October 2016 ("Admission"). The Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares. The Subscription results in the new issue of 10,600,000 new ordinary shares, representing approximately 6.06 per cent. of the Company's issued ordinary share capital as enlarged by the Subscription.
The funds raised will be used as working capital to fund growth in sales, as already reported in the Company's Interim Statement issued on the 24 May 2016.
A number of the Company's existing shareholders have participated in the Subscription. Insofar as the Company is aware, the issue of the Subscription Shares will result in the following changes to the Company's significant shareholders:
Name Current Number Interest in Percentage of interest of Subscription Ordinary of voting Subscriber in Shares Shares rights in Ordinary upon Admission the Company Shares upon Admission Miton Asset 15,000,000 2,800,000 17,800,000 10.18 Management Walker 12,840,157 3,300,000 16,140,157 9.23 Crips JM 12,363,065 2,500,000 14,863,065 8.50 Finn Nominees Ltd
Gerhard Dodl, CEO, participated in the Subscription on identical terms to the other Subscribers, for 500,000 shares. Gerhard Dodl now has an interest in 4,215,000 shares representing approximately 2.41 per cent. of the Company's issued ordinary share capital as enlarged by the Subscription.
Total Voting Rights
Upon Admission, following the issue of the Subscription Shares, the Company's issued ordinary share capital will consist of 174,794,226 ordinary shares, with one voting right each. Therefore upon Admission, the above figure of 174,794,226 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 in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The directors of the Company are responsible for the contents of this announcement.
Wheelsure Holdings plc 01525 840 557 Gerhard Dodl, CEO Daniel Stewart & Company Plc 0207 776 6550 Peter Shea/Asha Chotai - Corporate Adviser David Lawman - Broker
About Wheelsure holdings
Wheelsure Holdings plc is a holding company for a Group which develops and commercialises innovative products that meet safety needs throughout the world.
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(END) Dow Jones Newswires
October 26, 2016 02:00 ET (06:00 GMT)