Premier Veterinary Group PLC Issue of Warrants (8428W)
23 Abril 2019 - 9:35AM
UK Regulatory
TIDMPVG
RNS Number : 8428W
Premier Veterinary Group PLC
23 April 2019
Premier Veterinary Group PLC
("PVG", the "Company" or the "Group")
Issue of Warrants
London, UK, 23 April 2019 - On 29 January 2019, Premier
Veterinary Group PLC (LSE: PVG) announced it had entered into a
secured loan of GBP3.85m with Bybrook Finance Solutions Limited
("BFSL" a company of which Rajan Uppal, a director of PVG, is the
sole director and Shareholder).
Under its terms the loan, amongst other things, is repayable on
25 April 2019 with an option for PVG to extend the repayment date
to 25 January 2021 by issuing warrants to subscribe for up to
767,347 new PVG ordinary shares of 10p each at an exercise price of
10p per share within 5 years of the issue of any such warrants.
Under arrangements between BFSL and Crossroads Finance limited
("Crossroads"), a company jointly owned and controlled by Dominic
Tonner, Chief Executive Officer of PVG, and his spouse, Crossroads
is entitled to receive 30% of any warrants issued to BFSL. Full
details on these arrangements is set out in the announcement of 29
January 2019.
PVG confirms it has triggered the option to extend the loan with
BFSL in accordance with its terms and that it has issued warrants
directly to BFSL and Crossroads to subscribe for up to 767,347 new
PVG ordinary shares of 10p each at an exercise price of 10p per
share within the next 5 years. Subsequently, the repayment date of
the loan facility entered in to on 25 January 2019 has been
extended 25 January 2021.
As disclosed at the time of the reverse acquisition of Ark
Therapeutics Group plc by Premier Vet Group Limited, which
completed in February 2015, Mr Uppal, Mr Tonner and BFSL were
deemed to be acting in concert for the purposes of the Takeover
Code. Following the issue of the warrants, should the warrants be
subsequently exercised, this may trigger the requirement for a
mandatory offer to be made to all shareholders in PVG under Rule 9
of the Takeover Code.
For further information, please contact:
Premier Veterinary Group Tel: +44 (0)117 970 4130
plc
Dominic Tonner, Chief Executive
Officer
Andy Paull, Chief Financial
Officer
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCZXLFLKZFLBBD
(END) Dow Jones Newswires
April 23, 2019 10:35 ET (14:35 GMT)
Premier Veterinary (LSE:PVG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Premier Veterinary (LSE:PVG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024