Tue 22 Mar 2011
Application has been made to the Alternative Investment Market of the London Stock Exchange (“AIM”) for the admission to trading of 2,363,049 ordinary shares of 4p each in Panmure Gordon & Co. plc (“the Company”).
The shares will rank pari passu in all respects with the existing ordinary share capital of the Company. It is expected that the shares will be admitted to trading on Friday 25 March 2011.
Following the issue of these shares, the issued share capital of the company will consist of 150,206,438 ordinary shares of 4p each, with each share carrying the right to one vote. Of this number, 2,508,308 ordinary shares are held in treasury, therefore the total number of voting rights in the Company is 147,698,130.
As two directors of the Company’s direct US subsidiary, Panmure Gordon Holdings US LLC, Greg Wright and Deepak Raj, have subscribed for 1,000,000 shares and 620,000 shares respectively, this transaction is classified as a related party transaction for the purposes of the AIM rules. The directors consider, having consulted with the Company’s nominated adviser, that the terms of the transaction are fair and reasonable in so far as its shareholders are concerned.