Source - LSE Regulatory
RNS Number : 9484H
Dukemount Capital PLC
08 December 2020
 

Dukemount Capital Plc

08 December 2020

Dukemount Capital Plc

("Dukemount" or the "Company")

New Funding

Dukemount Capital plc, the property management and long dated income specialist is pleased to announce that £500,000 of new financing has been secured by way of a fundraising undertaken by the Company's broker, Peterhouse Capital Limited (Peterhouse) and which involves a combination of a subscription by Chesterfield Capital Limited (Chesterfield) of £500,000 by the issue of a new Convertible Loan Note (the "Notes") and the simultaneous sale by Chesterfield of 97,000,000, or £630,500 worth of shares at 0.65p to new investors introduced by Peterhouse.

The additional funds will be used for working capital and due diligence on significantly larger long-term income deals which the board will be assessing and which it believes could be material to the Company.

As a result of the share sale, Chesterfield now holds 4,666,666 shares representing approximately 1.03% of the total issued share capital of the Company. The Notes which have a 6-month term, are interest free, unsecured and are convertible at a price of 0.65p. Chesterfield intends to convert the Notes as soon as practically possible. Following a full conversion of the Notes, Chesterfield would hold a total of 81,589,743 shares which would equate to 15.36% of an enlarged issued share capital of the Company.

The issue of the Notes is deemed to be a related party transaction as Dukemount Chairman, Geoffrey Dart is a director and indirect shareholder of Chesterfield Capital.

  

Market Abuse Regulation (MAR) disclosure

 

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014. 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1.            

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Geoffrey Dart

2.            

Reason for the Notification

a)

Position/status

Chairman

b)

Initial notification/Amendment

Initial notification

3.    

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Dukemount PLC

b)

LEI

213800IVPZ932NP24O44

4.    

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

 

Ordinary shares of 1p

Identification code

GB00B6WZDF03

 

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Sale of Ordinary Shares

 

Price(s)

Volume(s)

£0.0065

97,000,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a

e)

Date of the transaction

7 December 2020

f)

Place of the transaction

London Stock Exchange

 

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

 For further information, please visit www.dukemountcapitalplc.com or contact:

Dukemount Capital Plc

Via St Swithins PR

Geoffrey Dart / Matthew Thompson




St Swithins PR (Media and Investor Enquiries)

Tel: +44 (0) 1732 521132

Gary Middleton

gary@swithins.com





Peterhouse Capital Limited

Tel: +44 (0) 207 469 0930

Lucy Williams/Duncan Vasey


 

 


 

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