UVENCO UK PLC 3 February 2016
Further to the Company's announcements on 11 December, 23 December and 30 December 2015
SnackTime plc ("SnackTime", the "Company" or the "Group") today noFfies that holders of, in aggregate, £57,290 nominal 2013 loan notes ("Loan Notes") have agreed to convert their Loan Notes, together with the associated accrued interest and redempFon premiums, at a conversion price of 10 pence per share, resulFng in the issue of 701,987 new ordinary shares of 2p each in the Company ("New Ordinary Shares").
Included within the Loan Notes being converted are £50,000 nominal of Loan Notes (together with associated accrued interest and redempFon premiums) held by the WE Jackson Trust ("Trust"), a trust for the benefit of the children of Michael Jackson, a non-execuFve director of the Company, converFng to 618,766 New Ordinary Shares. Following conversion of the Trust's Loan Notes, Mr Jackson's interests will comprise:
M Jackson (direct): 1,781,971 Ordinary Shares (2.4%)
WE Jackson Trust (indirect): 1,141,588 Ordinary Shares (1.5%)
In addiFon, Elderstreet Investment Limited and Elderstreet VCT plc companies connected with Mr Jackson, hold 4,963,150 Ordinary Shares (6.7%) and 1,796,296 Ordinary Shares (2.4%) respecFvely
The holders of the balance of the Loan Notes (amounFng to £79,166 nominal) have not elected to take-up the conversion opFon and so will conFnue to hold their Loan Notes. As parFes to the inter creditor agreement with the Co-operaFve Bank all interest on these Loan Notes will be accrued for the Fme being.
Agreement with the CooPDocumentaFon has now been agreed with the CooP as described in the announcement on 11 December 2015.
Trading in the Company's shares on AIM was suspended on 17 September 2015 as the Company was unable to publish its report and accounts for the year ended 31 March 2015 within six months of the year end as required by the AIM Rules for Companies ("AIM Rules").
Due to, among other maders, the addiFonal workload resulFng from the debt restructuring referred to above, the Report & Accounts for the year ended 31 March 2015 have not yet been finalised as the Company is in discussions with its auditors regarding a potenFal qualificaFon of the financial statements for the year ended 31 March 2015. Subject to a saFsfactory resoluFon of this issue, the Board now expects that the Report & Accounts will be noFfied and published by the end of February 2016. It is expected that the Company's interim results for the 6 months ended 30 September 2015
with be noFfied at or around the same Fme. As a result, suspension of trading on AIM in the Company's shares will conFnue. Further announcements will be made in due course.
ApplicaFon will be made to the London Stock Exchange for the 701,987 New Ordinary Shares to be admided to trading on AIM ("Admission"). It is expected that Admission will become effecFve on or around 8 February 2016. Therefore, the total number of shares in issue following admission to AIM of the 701,897 New Ordinary Shares will be 74,597,452 ordinary shares of 2p each. The figure of 74,597,452 ordinary shares may be used by shareholders in the Company as the denominator for the calculaFons by which they will determine if they are required to noFfy their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
Enquiries
SnackTime Tel No. 020 8879 8300 Jeremy Hamer
Michael Maltby
Stockdale SecuriFes Tel No. 020 7601 6100 Tom Griffiths
Richard Johnson
SnackTime plc issued this content on 03 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 February 2016 00:36:02 UTC
Original Document: http://www.snacktime.com/documents/3-Feb-16-Announcement.pdf
