Three directors invest in offering to support operations through 2011
By Marisa Wong
Madison, Wis., Nov. 2 - Camper & Nicholsons Marina Investments Ltd. issued 6,007,711 new ordinary shares at 15p per share, raising €901,157, according to a news release.
The price per share represents a 3.23% discount to the closing share price of 15.5p on Nov. 1.
The fund raise was supported by existing institutional shareholders and certain directors of the company, including Nick Maris, Sir Christopher Lewinton and Roger Lewis. They subscribed for 2,183,405, 553,129 and 166,666 shares, respectively.
Proceeds will be used for overall operating and capital requirements through 2011.
The company's board of directors, excluding Maris, Lewinton and Lewis, decided it was in the best interests of the company and the shareholders to seek a modest capital raise from a small number of existing investors, according to the release.
Collins Stewart Europe Ltd. acted as adviser and broker for the offering.
The new shares are expected to be admitted to trading on Nov. 5.
Based in Guernsey, Camper & Nicholsons acquires, develops, redevelops and operates marinas and marina related real estate.
| Issuer: | Camper & Nicholsons Marina Investments Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | €901,157
|
| Shares: | 6,007,711
|
| Price: | 15p
|
| Warrants: | No
|
| Investors: | Camper directors Nick Maris, Sir Christopher Lewinton and Roger Lewis; existing institutional investors
|
| Agent: | Collins Stewart Europe Ltd.
|
| Announcement date: | Nov. 2
|
| Stock symbol: | London: CNMI
|
| Stock price: | 15.5p at close Nov. 1
|
| Market capitalization: | £8.4 million
|
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