LONDON, Dec. 13, 2019 /PRNewswire/ -- Following the commencement last month of trading in the Company's shares on the JP Jenkins Matched Bargain Facility ('JP Jenkins') , Ritorno Plc is pleased to announce that due to demand from large existing investors, the Company has raised £280,000 through the placing of 560,000,000 new ordinary shares (the "Placing Shares") at a price of 0.05 pence per Placing Share (the "Placing Price") (the "Placing").
The placing price of 0.05 pence per represents a premium of 500% to the prevailing middle market price of the shares on JP Jenkins.
The funds raised pursuant to the Placing will be used for general working capital.
The Placing Shares, which will be issued credited as fully paid and which will rank pari passu in all respects with the existing Ordinary Shares, represent approximately 24.31 % of the Company's enlarged issued share capital.
As a result of the Placing the enlarged number of shares in issue will be 2,303,046,912. The Board intends to recommend a share consolidation in Q1 2020 on the basis of 1 share for every 1,000 shares in issue.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
Enquiries:
Ritorno plc - Rolf Gerritsen (Chief Executive Officer) | +44 (0) 20 7796 9060 |
JP Jenkins - Veronika Oswald / Paul Brown | +44 (0) 20 7469 0930 |
https://jpjenkins.com/companies/ritorno-plc |
