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NEX Exchange (NEXX)
18-Nov-2019 / 07:30 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE NEX EXCHANGE GROWTH MARKET |
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| APPLICANT NAME: |
SAPO PLC
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| APPLICANT REGISTERED OFFICE, PRINCIPLE PLACE OF BUSINESS (IF DIFFERENT) AND TELEPHONE NUMBER: |
Millennium House
46 Athol Street
Douglas
Isle of Man IM1 1JB
Tel: +44 (0)1624 692600
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| DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE): |
Michael Meyer (Executive Chairman)
Michael Langoulant (Independent Non-Executive Director)
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| APPLICANT SECTOR: |
Equity Investment Instruments
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| DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES: |
SAPO PLC (formerly known as South African Property Opportunities Plc) (the "Company") was incorporated and registered in the Isle of Man under the Isle of Man Companies Acts 1931 to 2004 on 27 June 2006 as a public limited company with registered number 117001C. On 7 January 2011, with the approval of its shareholders at a general meeting, the Company was reregistered as a company under the Isle of Man Companies Act 2006 with registered number 006491v.
The Company, an investment vehicle under the NEX Exchange Rules, seeks to invest in the developing market for rural broadband in the United Kingdom.
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| NAME OF NEX EXCHANGE CORPORATE ADVISER: |
Alfred Henry Corporate Finance Limited
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| NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED: |
The Company's directors intend to seek approval to admit the entirety of its issued share capital, which, after the expected placing and upon admission, the directors expect to comprise 166,292,810 Ordinary Shares of £0.01 par each.
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| SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER OF SECURITIES IN ISSUE (excluding securities held in treasury): |
The Company's directors expect that, upon admission, more than 10% of the Company's share capital in issue will be held in public hands.
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| SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT'S SHARE CAPITAL OR VOTING RIGHTS PRE- AND POST-ADMISSION: |
So far as the Company's directors are aware, the only persons who are directly or indirectly interested (within the meaning of Chapter 5 of the FCA's 'Disclosure Guidance and Transparency Rules sourcebook') in 5 per cent. or more of the Ordinary Shares in issue as at the date of this Pre-Admission Announcement are as follows:
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As at the date of the Document |
Upon Admission |
| Name |
Existing Ordinary Shares held, directly or indirectly, legally or beneficially |
% of Existing Share Capital |
Ordinary Shares held, directly or indirectly, legally or beneficially |
% of Existing
Share Capital |
| Michael Meyer |
62,428,921 |
45.47 |
67,428,921 |
40.55 |
| Barry Hersh |
37,500,000 |
27.31 |
38,500,000 |
23.15 |
| Placifor Investment Corporation |
25,129,096 |
18.30 |
35,129,096 |
21.12 |
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| TIMETABLE FOR ANY OFFER OF TRANSFERRABLE SECURITIES TO THE PUBLIC: |
The Company intends to conclude its placing on or before 25 November 2019.
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| THE EXPECTED ADMISSION DATE: |
2 December 2019.
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| WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR INSPECTION: |
www.sapoinvest.com
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