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Transaction Reports Ortac Resources Ortac Resources’ Share Placing Ortac Resources Ltd, the AIM listed
exploration and development company focussed on natural resource based projects, has announced that it has raised gross proceeds of £500,000 via a placing of new ordinary shares. The Placing is comprised of 200,000,000 new ordinary shares at a price of 0.25 pence per ordinary share.The funds raised will be used by the Company to strengthen the Company’s cash position and enable it to advance it projects in Slovakia and Eritrea.
Following this issue of equity, the issued share capital of the Company will be 2,515,679,020. The Placing Shares will rank pari passu with the existing ordinary shares.
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company
hereby announces that it has 2,515,679,020 ordinary shares of no par value each in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.
The above figure of 2,515,679,020 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
Ortac Resources CEO Vassilios Carellas said, “Ortac is pleased that it has a new institutional shareholder and simultaneously further bolster the Company’s cash position so that it now has over £3 million in treasury”.
Ortac Resources’ share placing
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SET Environnement TCR in SET Environment MBO
TCR Capital has invested in the management buyout of SET Environment, a French business specialising in asbestos removal.
Founded in 1996, SET specialises in asbestos removal services for commercial and industrial buildings. The company employs 12 people and posted an €18m turnover in 2013.
The deal allows SET’s founder to pass the business onto the current management team, backed by TCR. TCR Capital is an independent private equity partnership with one of the most experienced teams in the French middle market, managing some €M
300 in capital. The group invest throughout France in market leading businesses with high-growth potential.
The Funds managed by TCR have a clearly defined objective of investing in middle market buyout opportunities in France (companies with sales €M 20 - €M 200) where TCR can add value post- investment, particularly where there are build up opportunities and in corporate spin out situations. The company will now look to develop its business with existing customers, target new markets and bolster its services offering.
Environnement MBO TCR in SET Legal advisor to the management team:
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ACBS Mezzanine:
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