Placing and Directors Shareholdings
31 Mars 2009 - 8:00AM
UK Regulatory
TIDMSGG
31 March 2009
STERLING GREEN GROUP PLC
("Sterling Green", the "Group" or the "Company")
Placing and Director Shareholding
The Company announces today that it has raised GBP100,000, before expenses, from
a Placing of 16,000,000 ordinary shares in the capital of the Company
("Ordinary Shares") at 0.625p per share (the "Placing Shares").
The proceeds of the Placing will provide additional working capital for the
Group. In particular, the Group will apply these funds to specific marketing
opportunities concerning its Tax Debts proposition.
Michael Edelson, Chairman, has subscribed for 8,000,000 of the Placing Shares
and following the issue of these shares will have a beneficial interest in
34,050,390 Ordinary Shares, representing 11.21 per cent. of the enlarged issued
share capital of the Company following the Placing.
Mr Jonathon Lyons has subscribed for the remaining 8,000,000 Placing Shares and
following the issue of these shares will have a beneficial interest in
15,699,091 Ordinary Shares representing 5.17 per cent. of the enlarged issued
share capital of the Company following the Placing.
Following the issue of the Placing Shares, the Company will have 303,675,390
Ordinary Shares in issue. Application will be made for the Placing Shares to be
admitted to trading on AIM. Dealings in these shares are expected to commence
on 3 April 2009.
Enquiries:
Sterling Green Group plc Tel: 0161 975 5757
Michael Edelson
John East & Partners Limited Tel: 020 7628 2200
Simon Clements/David Worlidge
2
END
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