Ipso Ventures PLC Reduction of Capital effective (8223W)
31 Enero 2013 - 7:10AM
UK Regulatory
TIDMIPS
RNS Number : 8223W
Ipso Ventures PLC
31 January 2013
31 January 2013
IPSO Ventures plc
(to be re-named Plutus Resources plc)
(the "Company")
Reduction of Capital effective
Further to the announcements made by the Company on, inter alia,
28 December 2012 and 14 January 2013, the Company is pleased to
announce that following the confirmation of the Reduction of
Capital by the High Court yesterday, the Reduction of Capital has
today become effective. Completion of the Proposals remains subject
only to admission of the Subscription Shares to trading on AIM.
Pursuant to the Proposals, the Company has raised GBP360,000
(before expenses) through a subscription for 104,000,000 new
Ordinary Shares at 0.25p per Ordinary Share and the issue of
GBP100,000 of Convertible Loan Notes convertible into 40,000,000
new Ordinary Shares. Application has been made to the London Stock
Exchange for the Subscription Shares to be admitted to trading on
AIM and dealings are expected to commence at 8:00 a.m. tomorrow, 1
February 2013.
As previously announced, upon Admission, Nicholas Lee will join
the Board in the role of Non-Executive Director and John Kelly will
step down from the Board. Craig Rochford (currently Chairman) will
remain on the board as a Non-Executive Director. Accordingly the
Board on Admission will comprise Nicholas Lee (Non-Executive
Director) and Craig Rochford (Non-Executive Director). In addition,
upon Admission, Charles Tatnall and James Longley, both of whom are
Subscribers, will join the Company in non-Board capacities with
James Longley acting as Chief Financial Officer and Company
Secretary and Charles Tatnall acting as a consultant to the
Company. Updated information on the appointment of Nicholas Lee, in
accordance with Schedule 2(g) and Rule 17 of the AIM Rules for
Companies, is detailed in the appendix below.
The Company has applied to the Registrar of Companies to change
its name to Plutus Resources plc. A further announcement will be
made by the Company with regards to the timing for the Company's
change of name and the change of the Company's ticker from "IPS" to
"PLR" becoming effective. The ISIN and SEDOL numbers of the Company
will not change.
Definitions in this announcement are consistent with those set
out in the circular issued to Shareholders of the Company on 28
December 2012, a copy of which is available on the investor section
of the Company's current website (http://www.ipsoventures.com).
For further information, please contact:
IPSO Ventures plc Tel: 020 7462 0093
Craig Rochford, Chairman
Allenby Capital Limited Tel: 020 3328 5656
(Nominated Adviser and Broker)
Mark Connelly
Nick Athanas
Appendix - Regulatory Disclosures
Nicholas Lee, aged 50, is or has been a director or partner of
the following companies during the previous five years:
Current directorships or partnerships Directorships or
partnerships held in the past five years
Paternoster Resources plc WPG Solutions Limited
Brady Exploration plc Paragon Diamonds Limited
Astar Minerals plc Sweet China Limited
ACL Capital Limited Gardener Holdings (Kent) Limited
Boustead Agriculture Limited Novus Capital Markets Limited
Viridas Limited Centurion Resources plc
Leed Resources plc
Nicholas Lee has no direct interest in the issued share capital
of the Company. Paternoster Resources plc, a company where Nicholas
Lee is Chairman, has subscribed for 40,000,000 of the Subscription
Shares at the Subscription Price and GBP100,000 of the Convertible
Loan Notes. On Admission Paternoster Resources plc will be
interested in 40,000,000 new Ordinary Shares representing 27.9% of
the enlarged issued share capital of the Company on Admission.
There are no further disclosures to be made in relation to
Nicholas Lee under schedule 2(g) or Rule 17 of the AIM Rules for
Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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