CCCS completes new share issue conditions

CCCS completes new share issue conditions

10-May-2018
The Central Common Cold Store steering committee and its board of directors have announced the completion of five conditions precedents in relation to the new share issue of the Central Common Cold Store, a flagship project.
This follows the successful Central Common Cold Store (CCCS) share offering results and the allocation of the subscribed shares made end of September 2017.
The five conditions are:
1. Lease Agreement: the lease was signed on April 6, 2018;
2. Energy: this was validated in October 2017 by the Ministry of Environment, Energy and Climate Change;
3. 75% commitment on long term lease: As of today, the CCCS has 92% commitment;
4. Rental of processing area and other warehousing space and workshop: this has been fully committed; and
5. Committed term sheet: Two committed financing term sheets have been received.
Members of the CCCS board and CCCS steering committee have acknowledge the resolution of the CCCS shareholders to increase CCCS authorised share capital to 12,000 shares of US $1,000 each for a total amount of US $12,000,000.
The new subscribers will have 21 days effective from the date of the official launch of cash collection of the share payment to exercise their rights to purchase the new shares issued.
In the event that one or more of the new shareholders decline the offer to purchase its proportion of the new shares issued, it is resolved that Jaccar Holdings and Société Seychelloise d’Investissement will be authorised to exercise the option to buy those non-subscribed shares.
Furthermore, the CCCS welcomes Seychellois individual investors who have not previously applied for share purchase, to complete the formalities for subscription and payment in line with the prospectus requirement.
The official launch of cash collection and modalities will be communicated to the subscribers by email and by advert before May 31, 2018.
For any additional information, please contact the CCCCS by email [Only admins are allowed to see this link] or call number: 4303995.
[Only admins are allowed to see this link]