Ten Alps Plc, the factual media group, is pleased to announce a placing of 24,125,000 new ordinary shares of 2 pence each in the capital of the Company at a price of 2 pence per share. In addition to the Placing, the Company’s largest shareholder, Herald Investment Trust has agreed to provide £592,500 by way of debt funding. The terms are similar to the existing loan note in issue except for £192,500 being unsecured.
Herald has subscribed for 8,325,000 Ordinary Shares under the Placing and following this will hold
95,567,428 Ordinary Shares representing 34.54% of the Company’s issued share capital. A further substantial shareholder, John Booth, has subscribed for 2,650,000 Ordinary Shares under the Placing and following this will hold, with the John Booth Charitable Fund, 30,463,550 Ordinary Shares representing 11.01% of the Company’s issued share capital.
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