Issue of Equity & Directorate Change (5613O)
20 Septembre 2011 - 12:00PM
UK Regulatory
TIDMTWL
RNS Number : 5613O
Weather Lottery PLC (The)
20 September 2011
THE WEATHER LOTTERY PLC
("TWL" or the "Company")
Subscription for New Shares & Board Change
20 September 2011
Subscription
The Weather Lottery PLC, the AIM listed lottery operator is
pleased to announce that it has today allotted 17,777,977 new
ordinary shares of 0.1p each ("Ordinary Shares") at a price of
0.5625 pence per share to raise GBP100,000 (before expenses). A
further GBP25,000 has been pledged and will be announced when it is
subscribed, thus completing the GBP300,000 fund raising announced
on 21 April 2011.
Mr Cormac Crawford has subscribed for 17,466,666 Ordinary
Shares, representing approximately 4.39 per cent of TWL's enlarged
issued ordinary share capital. John Botros, Company Secretary has
subscribed for 311,311 shares and is now interested in 21,332,423
Ordinary Shares (of which 21,021,112 as trustee for the Second
Trinity Trust), representing approximately 5.36 per cent of TWL's
enlarged issued ordinary share capital. The directors (all of whom
are for these purposes independent), having consulted with the
Company's nominated adviser, believe that the terms of the
subscription by John Botros (a former substantial shareholder), are
fair and reasonable insofar as shareholders are concerned.
Mr Crawford is a former Senior Executive with Banque National de
Paris (BNP). At BNP he was responsible for the construction finance
at the World Financial Centre Battery Park New York. He then
founded Shannon International Leasing and Financial Services
Limited (SIL). He was Executive Chairman of SIL where he wrote
US$1.5billion in asset based financial transactions over a 3 year
period. SIL was purchased by GE Capital. Following the sale Mr
Crawford established a boutique financial services company licensed
by the Central bank of Ireland. He has raised and managed
substantial funds on his own and clients behalf primarily in the
business expansion sector. TWL is delighted that Mr Crawford has
purchased this significant stake and looks forward to working with
him to develop the company.
An application will be made for the 17,777,977 new Ordinary
Shares, which rank pari passu with the Company's existing issued
Ordinary Shares, to be admitted to trading on AIM and it is
expected that dealings will commence on 26 September 2011.
Following Admission, the Company's issued share capital will
consist of 398,182,715 Ordinary Shares.
Board Change
TWL also announces that Mr A Moore has resigned from the Board
after over five years as a Director. The Board would like to thank
Mr Moore for his work for the company and wish him all the best in
the new ventures that he is leaving to pursue.
ENDS
For further information contact
The Weather Lottery PLC
John Botros (Company Secretary) 07714209346
Religare Capital Markets (Nomad)
Nick Harriss 02074440800
SVS Securities (Broker)
Ian Callaway 02076385600
Greycoat Communications
Andrew Marshall 07785297111
This information is provided by RNS
The company news service from the London Stock Exchange
END
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