R8 Capital Investments Provides Corporate Update on VVV Resources
Why we think this is neutral
This RNS announcement from R8 Capital Investments provides a general corporate update, including details on the discharge of an outstanding loan and the issuance of shares in VVV Resources to the R8 note holders. The announcement does not contain any of the mandatory news types that would require a more detailed analysis, so a neutral sentiment score is appropriate.
Key Points
- R8 Capital Investments has discharged an outstanding loan to its note holders, amounting to £1,902,208 including capital and interest
- The note holders have received a total of 190,220,932 new ordinary shares in VVV Resources Limited (being renamed VVV Sports Limited) at a deemed price of £0.01 per share
- R8 Capital has issued 2,619,782 ordinary shares to VVV in consideration for the issuance of shares to the note holders
- The company is working on its audited accounts to 31 December 2024 and interim unaudited results to 30 June 2024
- A further announcement will be made once the audited and interim results have been released, and an application will then be made to the FCA for the restoration of the company's listing
Summary
R8 Capital Investments has discharged an outstanding loan to its note holders, amounting to £1,902,208 including capital and interest. The note holders have received a total of 190,220,932 new ordinary shares in VVV Resources Limited (being renamed VVV Sports Limited) at a deemed price of £0.01 per share. In consideration, R8 Capital has issued 2,619,782 ordinary shares to VVV.
The company is currently working on its audited accounts to 31 December 2024 and its interim unaudited results to 30 June 2024. A further announcement will be made once these have been released, and an application will then be made to the FCA for the restoration of the company's listing.