LCG Deal Sees GLIO Helping £10m in Capital Reorginazation as Debt Swapped
Posted: Mon Jun 20, 2016 8:19 am
UK-based London Capital Group Holdings PLC (LON:LCG), traded on the London Stock Exchange (LSE), announced details today of a restructuring proposal aimed to help strengthen the company’s position. The deal will inject £10 million into the company, effectively boosting its regulatory capital and resulting in the stake of the majority shareholder of LCG, Charles-Henri Sabet, rising to 83.33 per cent.
The company will issue 215,245,578 subscription shares and 70,962,201 open offer shares and up to 7,096,220 Underwriting Commission Shares, each at 5 pence per new ordinary share.
Finance Magnates spoke with London Capital Group Holdings PLC (LON:LCG) CEO Charles-Henri Sabet, who confided that ahead of ... (read more)