Tower Gate Capital Limited

April 18, 2012 02:00 ET

Shareholdings and annual report update

18 April 2012

                                TOWER GATE CAPITAL PLC ("the Company")
                                   SHAREHOLDINGS AND ANNUAL REPORTS

The Board announces that:

    1.      Loan Extension
The  Company's secured lender and wife of Matthew Hudson, Katherine Hudson, has agreed to  extend  the
loan  repayment  of her Loans from 31 March 2012 to 31 March 2013, save if cash becomes  available  to

    2.      Warrants

In  consideration  for the Loan extension, the Company has issued  Warrants to Katherine  and  Matthew
Hudson for 3,000,000 Ordinary Shares at a strike price of 9.5p per share over 2 million shares and 11p
per share over 1 million shares. Exercise of the Warrants can be in whole or in part at any time until
31 March 2013.


The Company's total issued share capital is 30,641,118 Ordinary Shares of 0.5 pence each.

On  12  April  2012  the  Company received notification that Matthew Hudson had transferred  1,000,000
Ordinary Shares to Sape Group Holdings Limited and 175,000 Ordinary Shares to Tim Hudson, director. As
the result following the above transactions:

    *       Sape Group Holdings Limited's total shareholding is 2,351,351, Ordinary Shares in the Company
        (7.67% of the total issued  share capital);
    *       Matthew Hudson's total shareholding is 23,431,776 Ordinary Shares in the Company (76.47% of
        the total issued share capital), which includes 3,752,697 Ordinary Shares held by his wife (12.25% of
        the total issued share capital);
    *       Tim Hudson's total shareholding is 500,000 Ordinary Shares in the Company (1.63% of the total
        issued share capital);
    *       Total Directors' shareholdings following the above transaction are 24,332,518 (79.41% of the
        issued share capital). The Directors' shareholdings represent legal and beneficial holdings;
    *        Total  Warrants and options are for 3,200,000 Ordinary Shares, 3 million of which are  to
        Katherine and Matthew Hudson.

    4.      Annual accounts
The  Company  had  postponed the publishing of its annual accounts to 30  September  2011,  as  it  is
currently reviewing the valuation of one of its principal investment assets that might have a material
impact on the results.

We  can  announce  that  the results to the end of September 2011 will show a small  operating  income
profit for the period - reversing the operational loss from the previous period.

    5.      Listed Status
The Board will make further announcements shortly regarding moving its listing to another stock market
or going private, following our previous announcement.

The Board accepts responsibility for the content of this announcement



Tower Gate Capital PLC:  Matthew Hudson   Tel: 020 7409 0500

Contact Information

  • Tower Gate Capital Limited