Crushmetric Group Ld: Placing and Update on Distributor Dispute
06/12/2024 09:09
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RNS Number : 1386P CRUSHMETRIC Group Limited 06 December 2024
6 December 2024
CRUSHMETRIC GROUP LIMITED
("CRUSHMETRIC" or "the Company")
Private Placing and Update on Distributor Dispute
CRUSHMETRIC is pleased to announce that it has completed a placing for a total
of 798,448 new Ordinary shares of US$0.001 each in the Company ("Ordinary
Shares") at a price of 12.5p per share, to two individual shareholders who are
unrelated to the Company ("Placing"). In total the Company has raised
approximately £99,806. Application will be made for the Ordinary Shares to
be admitted to trading on the Aquis Growth Market and it is expected that
admission will occur on or about 12 December 2024.
The placing proceeds are being used for general working capital purposes.
The Company announces that, following the issue of the Ordinary
Shares referred to above, in accordance with the Financial Conduct
Authority's Disclosure and Transparency Rules (the "Disclosure and
Transparency Rules"), the total number of Ordinary Shares in issue will
be 241,294,192 with each share carrying the right to one vote.
CRUSHMETRIC does not hold any shares in Treasury.
The above figure of 241,294,192 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.
Dispute Updates
The Company announces that, further to the announcement of 8 September 2022,
its subsidiary, Star Collaboration (Guangzhou) Limited ("Star C") has signed a
settlement agreement with the distributor in full and final settlement of the
legal proceeding, whereby Star C will pay a total of
approximately £166,000 (equivalent to approximately RMB1,500,000).
The Directors of the Company accept responsibility for the contents of this
announcement.
For further information, please contact:-
CRUSHMETRIC Group Limited
ONG Ban Poh Michael - Chief Executive Officer Tel: +852 2110 4221
Lilian Lo - Acting Chief Financial Officer
Aquis Growth Market Corporate Adviser Tel: +44 (0) 20 7469 0930
PETERHOUSE CAPITAL LIMITED
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