TIDMRM2
RNS Number : 1247K
RM2 International SA
27 August 2019
27 August 2019
RM2 International S.A.
("RM2" or the "Company")
Director Shareholdings, Transfer of Shares by Significant
Shareholder
RM2 today announces that it has been advised of the transfer in
progress of Ordinary Shares in the Company ("Ordinary Shares") and
certain agreements to transfer further Ordinary Shares, as
described below, by Richard Cashin, the Company's largest
shareholder, to certain directors and to Polygon Global Partners
LLP, an existing shareholder in the Company.
As previously announced, following the approval received at the
General Meeting of Shareholders held on 31 July 2019, the first
instalment of the First Tranche Placing was completed by the
issuance of 50,000,000 new Ordinary Shares to Richard Cashin at the
Placing Price for $1,000,000. Richard Cashin has subsequently
entered into the transactions and agreements described below,
resulting in the current and expected future shareholdings
described herein. Upon settlement of the various transfers in
progress, Richard Cashin's holding will stand at 39,367,087
Ordinary Shares.
The Accommodation Trust (a family vehicle of R. Ian Molson, the
Company's Chairman) has agreed to purchase 30,000,000 Ordinary
Shares, in aggregate, from Richard Cashin at the Placing Price in
six equal monthly instalments of 5,000,000 Ordinary Shares, with
the final three instalment purchases being subject to the
Conditions. The transfer of the first instalment of 5,000,000
shares from Richard Cashin to the Accommodation Trust is now in
progress. Following that settlement, the Accommodation Trust's
holding in the Company will stand at 7,448,500 Ordinary Shares.
Jan Dekker, a non-executive director of the Company, has agreed
to purchase 5,025,000 Ordinary Shares, in aggregate, from Richard
Cashin at the Placing Price in two equal tranches. The transfer of
the first tranche of 2,512,500 Ordinary Shares to Jan Dekker is now
in progress. The purchase of the second tranche of 2,512,500
Ordinary Shares is expected to occur within one week following
September 30, 2019 and is subject to the Conditions. Following that
settlement, Jan Dekker's current holding in the Company will stand
at 2,656,550 Ordinary Shares.
Charles Duro, a non-executive director of the Company, has
purchased 2,500,000 shares from Richard Cashin at the Placing
Price. Following that settlement, Charles Duro's holding in the
Company will stand at 2,660,242 Ordinary Shares.
Polygon Global Partners LLP has agreed to purchase 32,517,876
Ordinary Shares, in aggregate, from Richard Cashin at the Placing
Price in six equal monthly instalments of 5,419,646 Ordinary
Shares, with the final three instalment purchases being subject to
the Conditions. The transfer of the first instalment of 5,419,646
from Richard Cashin to Polygon Global Partners LLP is in progress.
Following that settlement, Polygon Global Partners LLP's holding in
the Company will stand at 6,936,537 Ordinary Shares.
The table below sets out the positions of the Company's
Significant Shareholders (as defined in the AIM Rules) upon
settlement of the various transfers in progress and those expected
positions following the issue of the First Tranche Placing Shares
and the Second Tranche Placing Shares (assuming the Conditions are
met), taking into account the share transfers described herein.
A further announcement will be made as and when the Company
receives confirmation that the transfers have been completed.
Holding % of currently Holding % of First Holding Holding
of Ordinary issued of Ordinary Tranche of Ordinary of Ordinary
Shares* share Shares Enlarged Shares Shares
capital* after Share after after
admission Capital* admission admission
of First of Second of Second
Tranche Tranche Tranche
Placing Placing Placing
Shares* Shares* Shares*
Richard Cashin 39,367,087 43.6% 118,527,795 62.3% 234,756,357 69.0%
------------- --------------- ------------- ----------- ------------- -------------
Woodford Investment
Management,
LLP, acting
on behalf of
funds under
its management 23,720,250 26.3% 23,720,250 12.5% 23,720,250 7.0%
------------- --------------- ------------- ----------- ------------- -------------
Polygon Global
Partners LLP 6,936,537 7.7% 17,775,829 9.3% 34,034,767 10.0%
------------- --------------- ------------- ----------- ------------- -------------
R. Ian Molson
and
associated
Family Trusts 7,448,499 8.2% 17,448,499 9.2% 32,448,499 9.5%
------------- --------------- ------------- ----------- ------------- -------------
* The figures stated above assume of the various transfers in
progress and that both the First Tranche Placing and the Second
Tranche Placing are completed and that there are no other changes
to the Company's issued share capital between today's date and the
completion of the Second Tranche Placing.
Capitalized terms not otherwise defined herein have the meanings
ascribed thereto in the Company's RNS issued on 22 July 2019.
For further information:
RM2 International S.A. +352 2744 9653
Kevin Mazula, Chief Executive Officer
Jean-Francois Blouvac, Chief Financial
Officer
Strand Hanson Limited (Nominated & Financial
Adviser and Broker) +44 (0) 20 7409 3494
James Spinney / Ritchie Balmer / James
Bellman
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Notes to Editors
RM2 International S.A. specialises in smart pallet development,
manufacture, supply and management to establish a leading presence
in global pallet supply and improve the supply chain of
manufacturing and distribution businesses through the effective and
efficient use and management of composite pallets. It is quoted on
the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHCKNDNPBKDFFB
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August 27, 2019 02:02 ET (06:02 GMT)
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