New Trend Lifestyle Group plc Issue of New Ordinary Shares,Total Voting Rights (9147G)
26 Julio 2019 - 8:51AM
UK Regulatory
TIDMNTLG
RNS Number : 9147G
New Trend Lifestyle Group plc
26 July 2019
26 July 2019
Issue of Equity
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
New Trend Lifestyle Group Plc
("NTLG" or the "Company" or the "Group")
Issue of New Ordinary Shares and Total Voting Rights
New Trend Lifestyle Group plc (Aim: NTLG), the Singapore-based
Feng Shui products and services group, is pleased to announce that
it has successfully completed, subject only to admission, an issue
of 50,000,000 new ordinary shares of 0.1p each ("New Ordinary
Shares") at a price of 0.42p per share (the "Issue") in full
settlement of a debt owed by the Group to a trade creditor as at 30
April 2019. The issue price represents a significant premium to the
mid-market closing price of 0.2p on 25 July 2019.
The Issue is the result of discussions with Zishange Capital
Management Pte Ltd ("ZSG"), a creditor of New Trend Lifestyle Pte
Ltd ("NTLSG"), the Company's subsidiary in Singapore. As at 30
April 2019 ZSG was owed SGD353,317.21 by NTLSG and has agreed to
accept 50,000,000 New Ordinary Shares, as full payment against this
debt, at an issue price of GBP0.0042 per share (SGD0.00707 per
share). As a result, ZSG will own approximately 22.22 per cent. of
the enlarged issued share capital of the Company and has also
entered into a Relationship Agreement with the Company and the
Company's Nominated Adviser which regulates the shareholder's
relationship with the Company.
Application will be made for the New Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence on
or about 2 August 2019.
By completing the Issue, the Group has reduced its current
liabilities and improved its net assets by GBP207,834 by settling a
significant trade creditor balance.
The New Ordinary Shares will represent approximately 22.2 per
cent. of the enlarged issued ordinary share capital following the
admission of the New Ordinary Shares to trading on AIM.
Following the issue of the New Ordinary Shares, the total number
of shares in issue is 225,000,000 Ordinary Shares. There are no
shares held in treasury. Therefore, the total number of voting
rights in the Company is 225,000,000. This figure 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 under the Disclosure and
Transparency Rules.
GBP1 = SGD1.7
END
For further information:-
New Trend Lifestyle Group Plc
Gregory Collier, Non-Executive Chairman +44 (0) 7830 182501
SPARK Advisory Partners Limited (NOMAD) +44 (0) 20 3368
Mark Brady/Neil Baldwin 3551
SI Capital Ltd (Broker)
Nick Emerson +44 (0)1483 413500
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
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