Staminier Acquires Second Tranche of Berkshire Hathaway Shares
LONDON, UK / ACCESSWIRE / May 24, 2019 / 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.
However if any of the Loan Notes have not converted by 2nd May 2029, the Company has the right either to redeem the Loan Notes then in issue at the principal amount plus any outstanding interest, or to require the holders to convert any outstanding Loan Notes plus any outstanding interest into new Staminier Shares at a price of £0.15 per Staminier Share, such that £295,466 of unconverted Loan Notes (excluding any outstanding interest) would result in the issue of 1,969,774 new Staminier Shares.
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
The Directors of Staminier Limited accept responsibility for this announcement.
Enquiries about this announcement should be addressed to :
Tim Stanton, Director of Staminier
Tel: 020 7268 4928
Email: [email protected]
One Mayfair Place,
The ordinary shares of Staminier Limited have been admitted to matched bargain trading on Britdaq. https://www.britdaq.com/Chinafe
Before making any investment decision you should seek advice from an independent investment adviser.
This announcement has been approved as a financial promotion under section 21 of the Financial Services and Markets Act 2000 (FSMA) by London Court Limited who are authorised and regulated by the Financial Conduct Authority.
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SOURCE: Staminier Limited
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