Issue of Equity, Board Changes & Change of Adviser (2186J)
28 Juin 2011 - 8:00AM
UK Regulatory
TIDMAIM
RNS Number : 2186J
AIM Investments PLC
28 June 2011
28 June 2011
AIM Investments Plc
("AIMI" or the "Company")
Issue of Equity
Board Changes
Appointment of Nominated Adviser
AIM Investments Plc is pleased to announce it has raised
GBP721,578 from the subscription at 1.25p per share of 57,726,266
new ordinary shares of 0.1p in the capital of the Company (the
"Placing Shares") and issue of 57,726,266 fully transferable
warrants. The warrants are exercisable at 1.5p per share at any
time before 30 June 2014.
These funds will be used to further execute the Company's
investing policy.
The Placing Shares represent approximately 22.8 per cent. of the
enlarged issued share capital and will rank pari passu with the
existing ordinary shares. Application has been made for the Placing
Shares to be admitted to trading on AIM and dealings are expected
to commence at 8.00am on 4 July 2011. Following the issue of all of
the Placing Shares, the total number of shares in issue will be
252,725,666 ordinary shares of 0.1p each.
A number of board changes have also been made to prepare the
Company for a growing involvement in emerging and frontier markets.
Non-Executive Chairman, Sir Bernard Zissman, has resigned from the
Board with effect from today. Having steered the Company through an
extremely challenging development period, Sir Bernard is pleased to
be handing over to Mark Pajak, who will take up the role of
Chairman. The Board will also be welcoming new Non-Executive
Director, Balbir Bindra, head of the Asia Banking and Finance Group
at international law firm Gide Loyrette Nouel Hong Kong. Further
details on Mr. Bindra are set out below. It is also announced that
Andrew Fletcher will be stepping down as Chief Financial Officer
following completion of the Company's 2010/2011 year-end accounts.
The Board would like to thank Andrew and Sir Bernard for their
valuable and determined efforts to secure the Company's future as
an emerging market investment company.
In addition, the Company is pleased to announce the appointment
of Daniel Stewart & Company Plc as nominated adviser and broker
with immediate effect.
Mark Pajak provided the following statement;
"We are very pleased to report the successful closing of this
placement and our new relationship with Daniel Stewart. These are
significant steps, which will enable the Company to further
implement its strategy and execute a number of the exciting
opportunities which are currently under review, to allocate
investments in small and medium sized companies in our target
markets. We look forward to announcing successful participation in
a number of transactions in due course.
Similarly, we are delighted to be announcing Balbir Bindra's
appointment to the Board. Mr. Bindra brings with him considerable
experience in our target markets, which will help enhance our
profile in these areas.
In the coming weeks, we will complete an ongoing review of the
day-to-day management and administration of the Company. This will
ensure that all aspects of our operations and overheads are managed
in a manner which best supports the underlying investment strategy
of the Company moving forward. We look forward to announcing the
outcome of this review in the coming weeks, together with our
full-year results announcement."
For further information please contact:
AIM Investments Plc Mark Pajak 07771 842527
------------------------- --------------------- -------------
Daniel Stewart & Company
(Nominated Adviser and Antony Legge / James
Broker) Thomas 020 7776 6550
------------------------- --------------------- -------------
www.aiminvestmentsplc.com
Balbir Bindra, aged 47
Mr. Bindra is a Partner and Head of Asia Banking & Finance
at international law firm, Gide Loyrette Nouel, in Hong Kong. He
has extensive experience in international finance law and has
represented corporates, banks, securities houses, hedge funds,
private equity groups and other financial institutions with
interests in Asia, Europe, the Middle East, Africa and South
America. He has been involved in banking, corporate, securities,
project and structured finance transactions throughout the world.
He is a member of the English and Hong Kong Law Societies. Mr.
Bindra holds a LL.B with First Class Honours from the University of
Southampton and an MBA from Edinburgh Business School. Mr. Bindra
is named as a leading individual in Asia Pacific Legal 500 2008/9,
Chambers Legal Directory 2009 for Structured Finance and
Euromoney's Guide to the World's Leading Structured Finance Lawyers
2009-10.
Mr. Bindra subscribed for 1,600,000 new ordinary shares in the
recent placing which equates to 0.6% of the total issued share
capital of the Company. Mr. Bindra has the current and past
directorships or partner roles in the companies or partnerships set
out below.
Balbir Bindra's directorships (current and held within the
previous five years) are as follows:
Current Directorships / Partnerships
Partner - Gide Loyrette Nouel, Hong Kong (February 2009 to
present)
Past Directorships / Partnerships
Partner - Sidney Austin LLP (January 2000 to December 2009)
There is no other information in relation to Mr. Bindra required
to be disclosed pursuant to Rule 17 and Schedule 2 (g) 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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