- Increase in Share Capital

On 23 December, Melita Capital plc announced that with effect from the 21 December 2010 the authorised share capital was increased from €1,000,000 to €5,000,000. Concurrently the issued share capital was raised by €4.5 million to €4,676,400 divided into 4,676,400 ordinary shares of a nominal value of €1 per share. The capital injection of €4.5 million was made by the company’s major shareholder, Superholdco Limited, details of which were given in the previous announcement. The funds from this cash capital injection will be on-lent to Melita Mobile Limited (30% owned by Melita Capital plc) to be used for the continued operation and development of its mobile business.

As a result, the shareholding in Melita Capital is now split as follows:

Superholdco Limited 4,676,399 ordinary shares 99.99998%
Honey II Group Limited 1 ordinary share 0.00002%

In the announcement the Directors also gave an update on the performance of Melita Capital plc. The Directors explained that the performance of its fully owned subsidiary, Melita Infrastructure Limited, was in line with expectations backed by the growth in demand for IP based services from Melita plc. Furthermore, the Directors also stated that the afore-mentioned capital injection in Melita Capital plc to fund the ongoing growth of Melita Mobile Ltd is a reflection of the shareholders’ confidence in the mobile business.

Comments are closed.