Source - RNS
RNS Number : 5248I
New Trend Lifestyle Group plc
31 August 2016

31 August 2016


New Trend Lifestyle Group Plc

("NTLG" or the "Company")


Placing of New Ordinary Shares


New Trend Lifestyle Group plc, the Singapore-based Feng Shui products and services group, is pleased to announce that it has successfully completed, subject only to admission, a placing to raise £300,000 from the issue of 25,000,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a price of 1.2p per share (the "Placing"), before expenses. Application will be made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 7 September 2016. The New Ordinary Shares are subject to restrictions on their sale, and the investors have agreed not to sell or otherwise dispose of the New Ordinary Shares without the prior consent of the Company and its broker, for a period of 12 months from their Admission.

The money raised from the Placing will be used primarily to fund our acquisition search and due diligence requirements as part of our strategy to grow our existing business by suitable complementary acquisitions in the Asia region.

The New Ordinary Shares will represent approximately 20 per cent. of the enlarged issued ordinary share capital following the admission of the New Ordinary Shares.

Commenting on the Placing, Greg Collier, Chairman, said

"When I was appointed Chairman on 1 June 2016, we informed shareholders that, in addition to looking at ways to improve our core business, where we had already achieved significant cost savings, we intended to work towards a growth plan that will restore profitability to the Company by also seeking suitable acquisitions in the Asia region.  As this search continues, the Board thought it was important that the costs in relation to that work was not borne by the existing business and so we have taken the decision to raise this additional equity funding from new and existing investors to enable us to accelerate our search and fund any necessary due diligence we deem necessary.  As yet, there are no acquisitions in contemplation, but we will keep shareholders appraised of any developments, as appropriate."

Following the issue of the New Ordinary Shares, the total number of shares in issue is 125,000,000 Ordinary Shares. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 125,000,000. 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 under the Disclosure and Transparency Rules.

Market soundings, as defined in the EU Regulation 596/2014, the Market Abuse Regulation ("MAR"), were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and as a result those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.


For further information:-


New Trend Lifestyle Group Plc     

Gregory Collier, Non-Executive Chairman


+44 (0) 7830 182501

SPARK Advisory Partners Limited (NOMAD)          

Mark Brady/Neil Baldwin       


+44 (0) 20 3368 3551

SI Capital Ltd (Broker)

Nick Emerson, Andy Thacker

+44 (0)1483 413500




This information is provided by RNS
The company news service from the London Stock Exchange

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