News blog
designcapital
- BY: Andrew Hore |
- POSTED: 02/04/2008 |
The deferred subscribers for shares in designcapital are not going to subscribe for the shares they said that they would.
L-A Finances SA, Jacques Langeard, Georges Schulmann and Jean-Jacques Senseby were supposed to subscribe for 19m shares at 10p a share within 30 days of the company joining Aim. That deadline expired more than one month ago. L-A Finances was supposed to subscribe for £1.38m of the £1.9m worth of shares.
The original agreement stated that designcapital had to join Aim by 30 November 2007. The admission deadline was extended three times. The last deadline was 21 January 2008 – the day designcapital did join Aim.
A further subscription for 37.16m shares at 10p a share is due 12 months after admission – 21 January 2009. L-A Finances is expected to subscribe for some of these shares but the other people who have failed to subscribe for the shares after 30 days aren’t involved. Most of this subscription is due from Stunning Partners LLC, which provides management services to designcapital and in which chairman Frederic Bobo is interested, and Luxadvor, which owns 38.2% of the company.
The shares remain suspended at 10p.
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