CEPS PLC

Related Party Transaction • Jun 23, 2015

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RNS Number : 8802Q

CEPS PLC

23 June 2015

23 June 2015

CEPS PLC

("CEPS" OR THE "COMPANY")

Placing to raise £1.25 million

Directors' Dealings

Related Party Transactions

Total Voting Rights

Placing to raise £1.25 million

The Company is pleased to announce that it has raised gross proceeds of £1.25 million by way of a placing of 4,166,667 new ordinary shares ("Placing Shares") to new and existing investors at a price of 30 pence per share ("Placing").

The net proceeds of the Placing will be used to repay the third party loan of £0.8 million that was entered into at the time of the Company's acquisition of Aford Awards Limited, as set out in the Company's announcement dated 4 November 2014, and for general working capital purposes. 

Application has been made to the London Stock Exchange to admit the Placing Shares to trading on AIM and admission is expected to occur on 29 June 2015. The Placing Shares will rank pari passu with the Company's existing ordinary shares.

Directors' Dealings

Certain directors of the Company have participated in the Placing, as set out in the table below.

Director	Shareholding prior to the Placing	Number of Placing Shares subscribed for	Shareholding following the Placing	% of Enlarged Share Capital
David Horner	1,397,005	1,466,667	2,863,672	29.9
Richard Organ	115,650	58,333	173,983	1.8
Vivien Langford	-	41,667	41,667	0.4

In addition, certain substantial shareholders (as defined in the AIM Rules) have subscribed for Placing Shares, as set out in the table below.

Substantial Shareholder	Shareholding prior to the Placing	Number of Placing Shares subscribed for	Shareholding following the Placing	% of Enlarged Share Capital
Mark Thistlethwayte	910,000	733,333	1,643,333	17.2
Chelverton Growth Trust plc	1,000,000	525,000	1,525,000	15.9

Related Party Transactions

The subscriptions for Placing Shares by David Horner, Mark Thistlethwayte and Chelverton Growth Trust plc constitute related party transactions as defined by the AIM Rules. Geoffrey Martin, being the director of the Company independent of the Placing, considers, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

Following the issue of the Placing Shares, the enlarged issued share capital of the Company will comprise 9,573,822 ordinary shares of 10 pence each. The above figure may be used by shareholders 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 in, the Company, under the Disclosure and Transparency Rules.

Enquiries

CEPS PLC David Horner, Chairman	+44 1225 483030
Cairn Financial Advisers LLP Tony Rawlinson/Avi Robinson	+44 20 7148 7900

This information is provided by RNS

The company news service from the London Stock Exchange

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