LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/BerkshireHathaway?src=hash” target=”_blank”gt;#BerkshireHathawaylt;/agt;–Further to our recent announcement (available at https://staminier.com/wp-content/uploads/2019/04/Berkshire-Hathaway-Announcement.pdf),
the board of Staminier Limited (“Staminier” or “the Company”) is pleased
to confirm that the Company has now completed the purchase of an
additional 1,815 Berkshire Hathaway Class B common stock in exchange for
the issue to the vendor of £295,466 of Staminier 10 year 2.5%
convertible loan notes (“Loan Notes”).
The Loan Notes are convertible into new Staminier ordinary shares of
£0.05 each (“Staminier Shares”) at a conversion price of £0.18 per
Staminier Share if converted within the first year of issue, with the
conversion price rising by £0.01 per annum thereafter, such that
£295,466 of Loan Notes converted on or before 30th April 2020 would
result in the issue of 1,641,478 new Staminier Shares; if, however, the
Loan Notes were converted on the 30th of April 2029, the conversion
price would be £0.27 per Staminier Share resulting in the issue of
1,094,319 new Staminier Shares. The last traded price of Staminier
Shares immediately prior to this announcement was £0.10 per Share.
Tim Stanton, commenting on the transaction said “We are delighted to
have acquired the additional Berkshire Hathaway shares. We very much
admire the outstanding investment skills of Warren Buffett and Charlie
Munger, and we are also very focused on trying to add substantial value
to our shareholders. This transaction increases our liquid capital base
as we gear up to make value enhancing acquisitions. We look forward to
completing our first significant acquisition in due course”
About Staminier: Staminier has been established to act as an
aggregator – acquiring businesses and assets at what the Company
believes to be a discount to their intrinsic value, and to then benefit
from scale: both by sharing resources between group companies but also
by achieving sufficient scale to list the Company’s shares on the
capital markets with sufficient liquidity to ensure that Staminier stock
can be used as a liquid currency to make further value-enhancing
acquisitions and to accelerate future growth. By acquiring businesses
and assets at a discount to intrinsic value the Company aims to rapidly
enhance shareholder value. www.staminier.com
To join the Staminier conversation, link here https://discord.gg/rAxnWEH.
For the full announcement see www.staminier.com/news/
and https://staminier.com/latest-share-price/
Contacts
Tim Stanton
Telephone: 020 7268 4928
[email protected]
