3. SHARE CAPITAL (ETT)
Who is Katharine Stephens who paid them up at par? Anyone know? Please advise…
TIA,
Cayman
3.1 The Company was incorporated with an authorized share capital of £15,000,000 divided into 50,000,000 ordinary shares of 30p each, of which two shares were issued, nil paid, to the subscribers to the Memorandum of Association following which the following changes have taken place:
3.1.1 on 12th June 2000, two subscriber Ordinary Shares of 30p each were transferred to Intek Corporation and Katharine Stephens who paid them up at par;
3.1.2 on 10th November 2000, resolutions of the Company were passed for the following purposes:
3.1.2.1 to adopt new Articles of Association of the Company in substitution for its existing Articles of Association and which are summarized in paragraph 4 below;
3.1.2.2 to sub-divide each issued and unissued ordinary share of £0.30 in the Company into 30 Ordinary Shares of 1p each; and
3.1.2.3 to reduce the authorized share capital from £15,000,000 to £1,000,000 by the cancellation of 1,400,000,000 ordinary shares of 1p each in accordance with Section 121 (2)(e) of the Companies Act 1985.
3.1.3 On 10th November 2000:
3.1.3.1 -- 563,334 shares were issued and allotted to Intek Corporation at a premium of 2p per share, paid for in cash;
3.1.3.2 -- 3,125,240 shares were issued and allotted to Intek Corporation at a premium of 4p per share. The shares were allotted by way of conversion of the Second Loan Note and the Third Loan Note; and
3.1.3.3 -- 16,666,666 shares were issued and allotted to SPRL Planet Earth Operating Systems BVBA at a premium of 24p per share. The shares were allotted by way of conversion of the First Loan Note.
3.1.4 on 10th November 2000, resolutions of the Company were passed for the following purposes:
3.1.4.1 to authorize the Directors pursuant to and in accordance with Section 80 of the Act exercise all the powers of the Company to allot relevant securities (as defined in section 80 (2) of the Act) up to an aggregate nominal amount of the authorized but unissued share capital of the Company, such authority to expire 15 months after the passing of the resolution but the Company may make an offer or agreement which would or might require relevant securities to be allotted after the expire of this authority and the Directors may allot relevant securities in pursuance of that offer or agreement; and
3.1.4.2 to empower the Directors pursuant to Section 95 of the Act (with such power expiring at the same time as the authority conferred by the resolution in paragraph 3.1.4.1
Source:
See Prospectus from Investor Relations Page 32:
Company Website: ettech.com
European Thermo Technology Ltd. (ETT) Symbol: OFEX
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