REG - Rurelec PLC - Secondary Placing and Change of Shareholders

RurelecAnnouncement

12/03/2024 13:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240312:nRSL5606Ga&default-theme=true

RNS Number : 5606G  Rurelec PLC  12 March 2024

   12 March 2024
   AIM: RUR

Rurelec PLC

("Rurelec" or "the Company")

 

Secondary Placing of ordinary shares in Rurelec plc

Notification of Change of Shareholders

Rurelec PLC (AIM: RUR), the AIM Rule 15 cash shell and owner of Turbines,
notes the announcement made by Zeus Capital Limited on 11 March 2024 at 18.07
(the "Announcement") which confirmed that Sterling Trust Limited ("Sterling")
had sold a total of 247,010,538 Ordinary Shares in the Company, at a price of
0.3036 pence per ordinary share (representing a disposal of 44 per cent. of
the issued share capital of Rurelec (the "Placing")).

Following the Placing, the Announcement confirmed that Sterling will now hold
56,081,765 Ordinary Shares equivalent to 9.99 per cent. of Rurelec's issued
share capital. It was also noted in the Announcement that Sterling had also
agreed to enter into a lock-in and orderly market agreement with Zeus Capital
which would restrict the sale of 56,081,765 Ordinary Shares for a period of 12
months and makes them subject to market standard orderly market arrangements
for a further 12 months following the expiry of the lock-in period.

The Company also notes the TR1 announcements released today which confirmed
that John Storry now holds 154,783,924 Ordinary Shares in the Company,
representing 27.57% of the issued share capital of the Company and Wentworth
Limited now holds 32,938,076 Ordinary Shares in the Company representing 5.87%
of the issued share capital of the Company.

 

The board of Rurelec welcomes these new shareholders to the register and
confirms they are committed to working with all shareholders to determine the
best way forward for the Company.

 

For further information please contact:

 

 Rurelec PLC          WH Ireland
 Andrew Coveney       Katy Mitchell

 Executive Director   James Bavister
 +44 (0)7710 836312   +44 (0)20 7220 1666

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEXLLFFZXLLBBE