SORB Sorbic Int

TIDMSORB

RNS Number : 7945K

Sorbic International PLC

27 June 2014

 
 Press Release   27 June 2014 
 

Sorbic International plc

("Sorbic" or the "Company")

Notice of General Meeting

Sorbic International plc (AIM:SORB), a leading sorbates producer in China, announces that, further to the announcement of 23 June 2014, a Circular convening a general meeting of the Company to be held at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH on Tuesday, 15 July 2014 at 10 a.m. is today being posted to shareholders. Copies of the Circular and the Form of Proxy are available on the Company's website, www.sorbicinternational.com, in accordance with AIM Rule 20.

On 23 June 2014, the Company announced a conditional placing to raise GBP250,000 by means of the issue of 2,500,000 New Ordinary Shares at 5 pence per share and of 125 new Loan Notes at GBP1,000 per Loan Note.

The Placing is conditional upon approval by both the existing loan note holders and Shareholders and admission of the New Ordinary Shares to trading on AIM. Given the placing price is below the nominal value per Existing Ordinary Share, the placing is also conditional on the Company's Shareholders passing resolutions to subdivide each Existing Ordinary Share into one New Ordinary Share and one Deferred Share. The Placing has not been underwritten.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that such admission will be effective and dealings in the New Ordinary Shares will commence at 8:00 a.m. on 16 July 2014.

- Ends -

 
 For further information: 
 Sorbic International plc               Tel: +44 (0)7768 
                                                 031 454 
 John McLean, Chairman       www.sorbicinternational.com 
 finnCap (Nomad) 
 Geoff Nash / Ben Thompson               Tel: +44 (0) 20 
                                               7220 0500 
 Hybridan LLP (Broker) 
 Claire Louise Noyce                     Tel: +44 (0) 20 
                                               3713 4581 
 

Media enquiries:

 
 Abchurch Communications 
 Henry Harrison-Topham /             Tel: +44 (0)20 7398 
  Canace Wong                                       7714 
 canace.wong@abchurch-group.com   www.abchurch-group.com 
 

Notes to Editors: www.sorbicinternational.com

About Sorbic International plc

Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets and half into the Chinese domestic market.

Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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