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Dukemount Capital Plc announced on March 7, 2024, the completion of its Facility Agreement redemption, with Lenders receiving a total consideration of £375,000, comprising 225,000,000 ordinary shares (valued at £225,000) and £150,000 in cash, as per a settlement deed signed on March 4, 2024. CEO Paul Gazzard acquired the Facility Agreement's £900,000 outstanding balance, capitalised it into 900,000,000 new ordinary shares at £0.001 per share, reducing the balance to nil. He then transferred 225,000,000 shares to the Lenders and sold the remaining 675,000,000 shares to new investors for £150,000 to fund the cash payment. The Company's total voting rights now stand at 969,316,623 ordinary shares of £0.001 par value.
| Date | 7 Mar 2024 |
| Time | 10:51:45 |
| Category | Miscellaneous |
| ID | 0116G |
7 March 2024
Dukemount Capital Plc
("Dukemount" or the "Company")
Update on the completion of redemption of the Facility Agreement and Total Voting Rights
Further to the announcement made on 4 March 2024, the Company confirms that the Lenders under the Facility Agreement dated 14 September 2021 (the "Facility Agreement") are receiving a total consideration of £375,000 for the Facility Agreement, being represented by 225,000,000 ordinary shares of £0.001 ("Ordinary Shares") at £0.001 per share representing £225,000 in shares and £150,000 in cash as per the terms of a settlement deed signed on 4 March 2024 (the "Settlement Deed").
Paul Gazzard acquired the outstanding balances pursuant to the Facility Agreement, being £900,000 (the "Outstanding Balance"). The Outstanding Balance has been capitalised into 900,000,000 new Ordinary Shares at £0.001 per share (the "Capitalisation Shares"). Following such capitalisation the Outstanding Balance has been reduced to nil (i.e. £0).
The Lenders were transferred 225,000,000 Capitalisation Shares at £0.001 per share representing £225,000 by Paul Gazzard in accordance with the Settlement Deed.
Paul Gazzard sold the balance of 675,000,000 Capitalisation Shares to new investors for £150,000 at a price of £0.00022 per Capitalisation Share. The £150,000 cash will be used to satisfy the cash element due to the Lenders under the Settlement Deed.
There are now no outstanding debts due under the Facility Agreement.
Total Voting Rights
The Company has 969,316,623 ordinary shares of £0.001 par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 969,316,623. This figure of 969,316,623 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed. For further information, please visit www.dukemountcapitalplc.com or contact:
Dukemount Capital Plc: Email [email protected]
CEO: Paul Gazzard
Non-Executive Director: Geoffery Dart
Broker Enquiries:
Peterhouse Capital Limited Tel: +44 (0) 207 469 0930
Lucy Williams/Duncan Vasey