16 Sep 2016 16:29
Taihua plc
("Taihua" or the "Company")
Results of Open Offer
The Company is pleased to announce the results of the Open Offer which closed for acceptances at 11.00 a.m. on 16 September 2016.
The Company has received valid acceptances in respect of 2,282,730 Open Offer Shares. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.
In addition, Mr Tao Ji has applied for the allotment of 20,628,582 Open Offer Shares pursuant to the underwriting agreement made between the Company and Mr Ji on 25 August 2016.
The Company has accordingly today issued and allotted 22,911,312 Ordinary Shares ("Open Offer Shares") at an issue price of 2.63p to raise £602,567.51. Application has been made to admit the Open Offer Shares to trading on AIM and dealings are expected to commence on 19 September 2016.
Following the issue of the Open Offer Shares, the Mr Tao Ji now holds 28,163,461 Ordinary Shares representing approximately 26.91% of the issued share capital of the Company.
For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 0.1p each in the capital of the Company in issue as at the date of this notice is 104,648,642 with each share carrying the right to one vote. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 104,648,642. 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 in, the share capital of the Company under the Disclosure and Transparency Rules.
Enquiries:
Nicholas Lyth, Taihua plc 07769 906 686
Katy Mitchell, WH Ireland Limited +44 161 832 2174