Can Can Lingerie Holding AG Secures Expansion Funding
(firmenpresse) -
Can Can Lingerie Holding AG Secures Expansion Funding
Kensington,11th January 2010 - Further to the announcement of a proposed major acquisition (21st December 2009), Can Can Lingerie Holding AG (ISIN: CH0044678180 / symbol: CCH) announces that the company has successfully placed a convertible offering of 350,000 Euro to a sophisticated investor. This transaction has now been settled.
The key points of the convertible note are:
-a conversion price of 0.25 Euro per share. The note will be convertible at the investor's option at any time into 1.4 million common shares of Can Can Lingerie Holding AG (CCH)
-a maturity date of 2nd November 2011
-a coupon rate of 12 percent annually in arrears
-the investor also has an option to buy up to 5.6 million additional shares in CCH at a fixed price of 0.25 Euro for which CCH would receive an additional 1.4 million Euro in cash.
The funds raised will be used to support the development and growth of CCH and reflect the investor’s confidence with regards to CCH's business plans and strategy.
On 22nd December 2009, the ALF Group, the proposed acquisition, issued a press release with further details of the proposed transaction. The announcement can be found at: http://www.prlog.org/10461756-alf-group-to-sell-50-interest-to-listed-european-company.html
As required under the Agreement (21/12/09), CCH will appoint auditors, enter into a compliance plan, appoint Independent Directors and move from the Open Market onto the General Standard Market of the Frankfurt Stock Exchange.
The Directors of CCH also wish to advise that they are preparing resolutions for the next AGM including a share buy back scheme and a reverse split of shares. Further announcements will be made once a decision and the timing is finalised.
About CCH
Can Can Lingerie Holding AG develops, acquires or invests in innovative companies operating or expanding internationally. We leverage our expertise in international operations and expansions with a focus on emerging markets and China, as we believe emerging markets provide an excellent environment for growth. We also believe innovative companies provide opportunity for growth in all international markets. By developing and partnering with innovative companies and taking advantage of the benefits of operating in emerging markets we maximize growth potential.
To more accurately reflect the company’s activities, it is proposed to change the name of the company to Can Can Holding AG, at the next AGM.
For further information please contact:
Can Can Lingerie Holding AG
77-79 Anzac Parade
Kensington, NSW 2033
Australia
Tel.: +61 2 9663 2842
Website: www.cancanholdings.com
public eye CONSULTING BUSCHE
Karsten Busche
Managing Director
Tel.: +49 30 43 05 89 22
eMail: info(at)publiceye-consulting.com
Leseranfragen:
Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
Datum: 11.01.2010 - 08:52 Uhr
Sprache: Deutsch
News-ID 10516
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Town:
Wien
Kategorie:
Business News
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