Qihang Equipment Company Limited Further re Resumption of Trading on AIM (5276D)
29 Enero 2015 - 8:16AM
UK Regulatory
TIDMQIH
RNS Number : 5276D
Qihang Equipment Company Limited
29 January 2015
Qihang Equipment Company
Further regarding Placing, Change of Name and Resumption of
Trading on AIM
Further to the announcement of 23 January 2015, the directors of
Qihang Equipment Company Limited ("Company") are pleased to
announce that the Company, under its new name Eastbridge
Investments Plc, will be restored to trading on AIM with effect
from 08:00 on 30 January 2015.
The Company was suspended from trading on 30 September 2014 as a
result of not being able to comply with the requirement of the AIM
Rules for Companies to publish its unaudited interim results for
the six months ended 30 June 2014. At the time of its suspension
the Company had 58,036,263 ordinary shares of 2.5p ("Ordinary
Shares") each in issue.
On 23 December 2014 the Company announced a proposal to dispose
of its operating business and in connection with this it issued
2,000,000 further Ordinary Shares for cash to provide interim
financing whilst a general meeting was held.
On 9 January 2015 the general meeting approved the disposal of
the Company's operating business, the sub-division of each Ordinary
Share into 1 ordinary share of 0.01p each ("New Ordinary Shares")
and 1 deferred share 0f 2.49p each ("Deferred Shares"). The
consideration for the disposal was the return of 51,325,737 New
Ordinary Shares to the Company by the original owners of the
Company's operating businesses.
On 23 January 2015 the Company announced the delayed unaudited
interim accounts for the six months ended 30 June 2014. At the same
time, a placing of 78,071,429 New Ordinary Shares and issue of
convertible loan notes amounting to, in aggregate, GBP225,000 was
announced along with the conversion of existing convertible loan
notes and corporate debt into a total of 58,532,688 New Ordinary
Shares.
As a result of these actions, the Company has applied for a
total of 196,640,380 ordinary shares of 0.01p each to be admitted
to trading on AIM under the name Eastbridge Investments Plc (ticker
EBIV) with effect from 30 January 2015. No application will be made
for the Deferred Shares to be admitted to trading on AIM or any
other market.
The Company holds 51,325,737 New Ordinary Shares in treasury and
accordingly the total number of voting rights in the Company at
admission will be 145,314,643. This number 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 in their interest in, the share capital of
Eastbridge Investments Plc under the FCA's Disclosure and
Transparency Rules.
Enquiries:
Mark Chapman, Chairman Tel: 01483 892130
Nominated Adviser Tel: 020 7382 1100
Northland Capital Partners
Limited
William Vandyk / Matthew
Johnson
Broker Tel: 020 7469 0930
Peterhouse Corporate Finance
Fungai Ndoro/ Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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