THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Angelfish Investments plc
("Angelfish" or the "Company")
Placing and Board Changes
The Directors of Angelfish are pleased to provide the following update to shareholders
Following the capital reorganisation in 2020, the Directors have been holding discussions with a number of parties to raise additional funding for the Company. As a result, the Company is today anouncing a placing in conjunction with Board changes which the current directors believe will enable Angelfish to move forward for the benefit of all shareholders.
The Company announces that, following the completion of the Annual General Meeting to be held today at 12 noon, Brian Jones and Ken Hillen will resign as Directors of the Company with immediate effect and that, Mr Simon Grant-Rennick will be appointed as Executive Chairman and Mr Burns Singh Tennent-Bhohi as Executive Director. In addition Richard Walker will become a non-executive director.
Simon Grant-Rennick (Executive Chairman)
Simon graduated from the Camborne School of Mines (Bsc Mining Engineering [hons], ACSM) and has been actively involved in the mining and metal trading industry for over 30-years. During this time Simon has served Board & Management roles for both private and public (LSE, ASX, AQSE) entities globally.
Simon has extensive experiences in the industrial and non-ferrous metal industry which includes a successfully operating Falconbridge Internationals non-ferrous trading arm.
Simon maintains a number of Board & Management Roles across industries including; agriculture, property, technology & the mining sector, including; All Active Asset Capital Ltd (AIM: AAA), U.K. Spac plc (AIM: SPC), Evrima plc (AQSE: EVA) and was most recently the Executive Chairman of Quetzal Capital plc (AQSE: QTZ).
Simon Richard de Clanay Grant-Rennick, aged 63, has held the following current and former Directorships in the past 5-years:
| Current Directorships and/or Partnerships |
Former Directorships and/or partnerships (within the last five years):
|
| African Tree Nuts Limited |
Barnardo Capital Limited |
| ASP Corp Ltd |
Force Commodities Ltd |
| Elk Investments Limited |
Glyncastle Resource Limited |
| Evrima plc |
Glyncastle plc |
| Gunmakers Hall Limited |
Jacoma Estates Limited |
| IMFH Limited |
Kardav Limited |
| IM Performance Minerals Ltd |
QX Resources Limited |
| Langleycourt Properties Limited |
Quetzal Capital plc |
| Selection Mines Limited |
|
| All Active Asset Capital Limited U.K. SPAC plc |
|
Mr Grant-Rennick was a director of Glyncastle plc (previously Unity Power plc) and two of its subsidiaries, Glyncastle Mining Limited (previously Horizon Mining Limited) and Glyncastle Resource Limited (previously Unity Mine Limited), when these three companies went into administration on 30 October 2013. Statements of affairs for each of these companies dated 13 December 2013 stated an aggregate estimated deficiency as regards creditors of £172,966,671. A Receiver was appointed to Glyncastle plc on 23 May 2018 and Mr Grant-Rennick ceased to be a director of this company on 27 January 2020. Glyncastle Mining Limited and Glyncastle Resource Limited both entered into Company Voluntary Arrangements on 7 October 2016 and Mr Grant-Rennick ceased to be a director of both companies on 24 January 2018.
Mr Grant-Rennick was a director of Oakland Investments (UK) Limited from 30 January 1995 until 8 August 1995. This company entered into voluntary creditors liquidation on 14 November 1995.
Burns Singh Tennent-Bhohi (Executive Director)
Burns Singh Tennent-Bhohi is the founder & CEO of The Glenpani Group, an international private venture capital business based in London/UK. Glenpani's principal focus is the evaluation and augmentation of distressed-asset opportunities and private-transaction/investment origination. Glenpani Group cornerstone-invest, originate transactions and provide corporate consultancy to international companies both private and public including; AQSE, AIM, TSX-V, CSE & ASX.
Burns assumes a number of directorships of both private and public companies and his current appointments in public interest companies include. Forum Energy Metals Corp. (TSX-V: FMC), in 2019 FMC executed a $30,000,000 project earn-in agreement with Rio Tinto on its Janice Lake sedimentary copper project and a $6,000,000 project earn-in with Orano. Burns is also Chairman of DiscovOre plc (AQSE: ORE), the CEO and a Director of IamFire plc (AQSE: FIRE) & the CEO and a Director of, Evrima plc (AQSE: EVA).
Active in North American capital markets, Burns is also the founder of LC, a specialised private investment vehicle that syndicates and connects global capital investment for private transaction origination & pre-IPO opportunities.
Glenpani Group maintains an extensive international network that includes corporate brokers/financiers, investment bankers, merchant banks, UHNWIs, project financiers, asset-banks and technical teams. Burns graduated from the University of Glasgow with a degree in Economics/Social Sciences.
| Current Directorships and/or Partnerships |
Former Directorships and/or partnerships (within the last five years):
|
| Forum Energy Metals Corp |
|
| Evrima plc |
|
| IamFire plc |
|
| DiscovOre plc |
|
| Glenpani Group Limited |
|
| Glenpani Capital Limited |
|
| Lincoln Road Ltd |
|
| Capital Homes (London) Ltd |
|
| Residenital Sales (London) Ltd |
|
| Glenpani Capital Group Ltd |
|
| VNS Global Ltd |
|
| Eastport Ventures Inc. |
|
| Botsjuana Ltd |
|
| Loncann Limited |
|
| Loncad Limited |
|
| Tomas Capital Limited |
|
| GPC 101 Ltd |
|
| DVYH196 Ltd |
|
| Loncad Holdings Ltd |
|
The Company has raised gross proceeds, before expenses of, £42,000 through the issue of 1,627,496,948 new ordinary shares of £0.00002. The placing was conducted at a price of, 0.00258065 pence per share.
The participants to the placing along with an additional party (together "the Investors") are also advancing £90,000 in the form of a Convertible Loan Facility ("CLF") that will ensure the Company has sufficient working capital until such a point that it can access further capital.
The CLF shall bear no interest, be convertible at the placing price announced today (£0.00258065) and shall only be convertible such that upon conversion, the combined holdings of the Investors do not exceed 29.9% of the issued ordinary share capital.
The proceeds from this placement will be used for general working capital purposes. It is anticipated that the Company will raise further capital in line with the communication of a revised corporate strategy.
Richard Walker commented: "I am pleased to close this placing and welcome both Simon and Burns to the Board of Angelfish Investments plc. With the combination of fresh capital investment and complimentary Directors, I look forward to progressing the company and providing updates to shareholders in relation to our internal developments.
I would like to also take this opportunity to thank Brian Jones and Ken Hillen for their contribution to Angelfish Investments and wish them well for the future."
Application will be made for the new ordinary shares to be admitted to trading on AQSE Growth Market.
Following the issue of the new ordinary shares, the Company's issued ordinary share capital shall consist of 5,504,155,335 ordinary shares of 0.002 pence each. This number represents the total voting rights in the Companywhich may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure & Transparency Rules. The Placing Shares shall rank pari passu in all respects with the existing ordinary shares of the company.
The Directors of the Company, who have issued this RIS announcement after due and careful enquiry, accept responsibility for its content.
Enquiries
Company:
Richard Walker (Director)
Direct Line: +44 (0) 7772013116
Novum Securities Limited (AQSE Corporate Adviser):
David Coffman/ Lucy Bowden: +44 (0) 207 399 9400
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.