Editor's Pick: Markets: The week that was (16-20/11/09)

(TVZ.L) Travelzest PLC Buy/Sell

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Date/Time	Headline	Source
1
Tue 11:30	Travelzest plc - Trading Update and Group Restructuring	RNS
RNS Number : 6281C Travelzest plc 17 November 2009 `Date: 17 November 2009` `On behalf of: Travelzest plc ('Travelzest', 'the Company' or 'the Group')` Embargoed until: 11:30hrs Travelzest plc Trading Update and Group Restructuring Travelzest (AIM: TVZ), the UK and Canadian holiday retailer, is pleased to provide the following trading update and details on the Group's restructuring initiatives. The Board of Travelzest announces that it anticipates underlying trading for the year ended 31 October 2009 to be in line with its expectations. Canadian Operations Operations in Canada continue to improve with an increase in consumer demand in the market after slightly lower summer trading levels. Restructuring of the operations at itravel2000 has resulted in a more efficient and productive business. Integration of The Cruise Professionals into the new structure continues and we anticipate improved operating performance as a result. UK Operations The restructuring of the UK operations, detailed below, will provide much needed strategic refocus on retail distribution, product and sales operations. Summer trading was slightly behind expectations; however we continue to see improvements in operational efficiencies that we believe will provide stronger operational results going forward. Nishma Robb steps down as Group Distribution Director The Board announces that Nishma Robb has today resigned as the Group Distribution Director. Ms Robb will remain on the Board and an employee of the Company until 31 January 2010. Details of Group Restructuring The executive management team has been focused on restructuring operations to align the Group with current market opportunities. The Group's tour and retail operations have been merged to ensure resources and knowledge are shared throughout the Group. This will broaden the product offering to the Group's combined client base. A new retail distribution strategy that will expand the market presence of Travelzest's unique brands and products is also being pursued. To facilitate this process, the following four new positions have been created, each reporting to Jonathan Carroll, CEO, and Jack Fraser, COO/FD of Travelzest: STUART MORRIS, PREVIOUSLY VICE PRESIDENT OF MARKETING OF ITRAVEL2000, HAS BEEN APPOINTED GROUP VICE PRESIDENT OF MARKETING FOR THE CANADIAN AND UK OPERATIONS. ITRAVEL2000 IS THE LEADING ONLINE HOLIDAY PORTAL IN THE CANADIAN MARKET AND STUART'S ROLE IS TO LEVERAGE THIS EXPERIENCE ACROSS THE GROUP, PROMOTING ALL PRODUCTS IN BOTH THE UK AND CANADIAN MARKETS. HE IS ALSO LEADING THE REDEVELOPMENT OF TRAVELZEST'S RETAIL DISTRIBUTION IN THE UK MARKET. NICK WRIGHTMAN, PREVIOUSLY GENERAL MANAGER OF TAPESTRY COLLECTION, A LEADING TOUR OPERATOR FOR TURKEY, HAS BEEN APPOINTED VICE PRESIDENT OF PRODUCT (UK OPERATIONS). NICK'S EXTENSIVE EXPERIENCE WITH SUCCESSFULLY MANAGING SUPPLIER RELATIONSHIPS WILL ASSIST WITH THE UNIFICATION OF TRAVELZEST'S PRODUCTS AND DEVELOPMENT OF NEW LINES. STEVE DIEDERICH, PREVIOUSLY MANAGING DIRECTOR OF BEST OF MOROCCO/FARAWAY HOLIDAYS, A LEADING TOUR OPERATOR TO MOROCCO AND THE FAR EAST, HAS BEEN APPOINTED VICE PRESIDENT OF SALES OPERATIONS (UK OPERATIONS). STEVE WILL BE USING HIS PREVIOUS EXPERIENCE IN MANAGING SALES AND CUSTOMER SERVICE REQUIREMENTS TO IMPROVE THE STRENGTH AND CONSISTENCY OF TRAVELZEST'S UK CUSTOMER SERVICE OFFERING. JONATHAN BLIZZARD, PREVIOUSLY GENERAL MANAGER OF JMB AND WOW HOUSE, HAS BEEN APPOINTED GENERAL MANAGER (UK OPERATIONS). JONATHAN'S RESPONSIBILITY WILL BE TO IMPROVE THE OVERALL EFFICIENCY OF OPERATIONS IN THE UK AS PRODUCT, SALES AND DISTRIBUTION FUNCTIONS ARE UNIFIED. The Board believes that this new management structure will create a more cohesive offering across its product portfolio and deliver significant improvements to the customer's booking experience. The restructuring of the Group's infrastructure is progressing well with further substantial cost efficiencies expected. Once completed, Travelzest will have centralised its UK based operations into three offices from seven, enabling the Group to maximise resources and cross selling opportunities. Jonathan Carroll, Travelzest's Chief Executive Officer, commented: "Our Canadian operations have performed exceptionally over the year considering the difficult market conditions. We are particularly happy with the team and their dedication to working through these difficult times. "We are very excited about the new management team we have put together for both the UK and Canada and are looking forward to a stronger performance from our operations with the new structure in place." Jack Fraser, Travelzest's Chief Operating Officer and Financial Director, added: "We are very happy with the progress we have made in restructuring our business and have set a clear structure and direction for the Group. The fully integrated platform we are developing will assist us in building a stronger and more unified offering. "We would also like to take this opportunity to thank our exceptional team of managers for their hard work and the great commitment they have shown to the Group. We are now well positioned as a Group and are all focused on a new vision to drive the Company forward." Ends - Enquiries: `Travelzest plc 0844 335 6623` Jack Fraser / Mark Molyneux `Redleaf Communications 020 7566 6700` Samantha Robbins / Rebecca Sanders-Hewett / Anna travelzest@redleafpr.com Dunkin `Investec Investment Banking 020 7597 5970` Martin Smith / Erik Anderson Notes to Editors: The Travelzest group currently comprises: Canadian Operations itravel2000.com - itravel2000.com The Cruise Professionals - www.cruiseprofessionals.com UK Operations Holiday.co.uk - www.holiday.co.uk Flight.co.uk - www.flight.co.uk Best of Morocco - www.bestofmorocco.co.uk VFB Holidays - www.vfbholidays.com Peng Travel - www.pengtravel.co.uk Faraway Holidays - www.farawayholidays.co.uk The Malaysia Experience - www.malaysiaexperience.co.uk Tapestry Collection - www.thetapestrycollection.com The Wow House Company - www.thewowhousecompany.co.uk Captivating Cuba - www.captivatingcuba.com JMB Travel - www.jmb-travel.co.uk Fair's Fare - www.fairsfare.com This information is provided by RNS The company news service from the London Stock Exchange END MSCCKOKBDBDDDDD More
04-11-09	Travelzest plc - Director/PDMR Shareholding	RNS
RNS Number : 9610B Travelzest plc 04 November 2009 4 November 2009 Travelzest plc (the "Company") Director's dealing On 4 September 2009, Jack Fraser, Group Chief Operating Officer and Financial Director, entered into an agreement granting security over 3,914,113 ordinary shares in the Company (the "Pledged Shares") held by him in favour of LDC Logistics Development Corporation ("LDC"), a Canadian federally incorporated corporation, as security against a personal loan of value CAD350,000(the "Pledge Agreement"). In conjunction with the Pledge Agreement, LDC granted to Jack Fraser a put option (the "Put Option") under which Jack Fraser could put all (but not less than all) of the Pledged Shares to LDC for a consideration payable to Jack Fraser of 6 pence per Pledged Share. The Put Option was available to Jack Fraser for a period of 180 days commencing 9 September 2009. The Company was notified on 3 November 2009 that on 13 October 2009 Jack Fraser exercised the Put Option. Following exercise of the Put Option, Jack Fraser has an interest in 9,365,887 ordinary shares in the Company, representing approximately 6.5 per cent. of the Company's issued share capital of 145,136,110 ordinary shares. For further information contact: `Travelzest plc 020 7887 1981` Mark Molyneux / Jack Fraser `Investec Investment Banking 020 7597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END RDSBIBITMMJMBLL More
30-09-09	Travelzest plc - Total Voting Rights	RNS
RNS Number : 8789Z Travelzest plc 30 September 2009 30 September 2009 Travelzest plc ("Travelzest") Total Voting Rights Pursuant to the Transparency Directive's transitional provision 6, Travelzest's share capital now consists of 145,136,110 ordinary shares of 2 pence each with voting rights. Travelzest holds no ordinary shares in Treasury. The above figure (145,136,110) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Travelzest under the FSA's Disclosure and Transparency Rules. END Enquiries: `Travelzest plc 020 7887 1981` Jack Fraser `Investec Investment Banking 0207 597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END TVRSEAFLUSUSEEU More
29-09-09	Travelzest plc - Holding(s) in Company	RNS
RNS Number : 8971Z Travelzest plc 29 September 2009 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES `1. Identity of the issuer or the underlying issuer of Travelzest plc` existing shares to which voting rights are attached: 2 Reason for the notification (please tick the appropriate box or boxes): `Yes` An acquisition or disposal of voting rights `No` An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached `No` An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments `No` An event changing the breakdown of voting rights `Placing Yes` Other (please specify): `3. Full name of person(s) subject to the Gartmore Investment Limited` notification obligation: `4. Full name of shareholder(s) (if different See schedule below` from 3.): `5. Date of the transaction and date on which 10th September 2009` the threshold is crossed or reached: `6. Date on which issuer notified: 11th September 2009` `7. Threshold(s) that is/are crossed or reached: 30%` 8. Notified details: A: Voting rights attached to shares `Class/type of Situation previous Resulting situation after the triggering transaction` `shares to the triggering` `transaction` if possible using the ISIN CODE `Number Number Number Number of voting % of voting` `of of of shares rights rights` `Shares Voting` `Rights` `Direct Direct Indirect Direct Indirect` `GB0032849084 3,724,491 3,724,491 43,724,491 43,724,491 30.127%` B: Qualifying Financial Instruments Resulting situation after the triggering transaction `Type of financial Expiration Exercise/ Number of voting % of voting` `instrument date Conversion rights that may be rights` `Period acquired if the` `instrument is` `exercised/` `converted.` C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction `Type of financial Exercise Expiration Exercise/ Number of voting % of voting rights` `instrument price date Conversion rights instrument` `period refers to` `Nominal Delta` Total (A+B+C) Number of voting rights Percentage of voting rights `43,724,491 30.127%` 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: `13. Additional information: All figures are based on the Company's issued` `share capital of 145,136,100 as provided by` `Exshare` `E mail contactRDU@Gartmore.com` `14. Contact name: RDU` 15. Contact telephone number: 0207 782 2324 Current Holdings By Instrument Type `Stock Line: 3284908 TRAVELZEST ORD GBP0.02 Issued Share Capital: 145,136,100` `Share Description Fund Share Held % of Issued Share UK Registered Owner Beneficial Owner` `Managing Co. Capital` Equities TRAVELZEST ORD GBP0.02 `Gartmore Fund Managers Limited 11,660,377 8.034% HSBC GLOBAL CUSTODY GARTMORE FUND MANAGERS LTD A/C` `NOMINEE UK LTD GARTMORE UK & IRISH SMALLER` COMPANIES `Gartmore Investment Limited 6,000,000 4.134% TARTAN INVESTMENT TARTAN INVESTMENT PARTNERS` PARTNERS `517,414 0.357% GARTMORE GROWTH GARTMORE GROWTH OPPORTUNITIES PLC` OPPORTUNITIES `6,000,000 4.134% GOLDMAN SACHS THE GARTMORE UK SMALL CAP BEST` NOMINEES LTD IDEAS FUND LIMITED `19,546,700 13.468% VIDACOS NOMINEES LTD THE ALPHAGEN VOLANTIS FUND LIMITED` A/C 2303 `43,724,491 30.127%` `43,724,491 30.127%` This information is provided by RNS The company news service from the London Stock Exchange END HOLQKLFLKKBBBBV More
14-09-09	Travelzest plc - Holding(s) in Company	RNS
RNS Number : 0133Z Travelzest plc 14 September 2009 TR-1: Notifications of Major Interests in Shares 1. Identity of the issuer or the underlying issuer of `existing shares to which voting rights are attached: Travelzest Plc` 2. Reason for notification (yes/no) An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights `Other (please specify): Placing - change in holding and shares in issue X` `3. Full name of person(s) subject to Universities Superannuation` `notification obligation: Scheme Ltd` 4. Full name of shareholder(s) (if different from 3): `5. Date of transaction (and date on which the 09/09/09` threshold is crossed or reached if different): `6. Date on which issuer notified: 10/09/09` `7. Threshold(s) that is/are crossed or 4%` reached: 8: Notified Details A: Voting rights attached to shares `Class/type of shares Situation previous to the triggering Resulting situation after the triggering transaction` If possible use ISIN code transaction `Number of shares Number of voting Number of shares Number of voting rights Percentage of voting` `rights rights` `Direct Indirect Direct Indirect` `Sedol: 1,385,429 1,385,429 5,385,429 5,385,429 3.711%` 3284908 B: Financial Instruments Resulting situation after the triggering transaction Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting `period/date that may be acquired rights` `(if the instrument` `exercised/converted)` Total (A+B) Number of voting rights Percentage of voting rights `5,385,429 3.711%` 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: `14 Contact name: Philip Brayne` `15. Contact telephone number: 0151 227 4711` For notes on how to complete form TR-1 please see the FSA website. This information is provided by RNS The company news service from the London Stock Exchange END HOLXZLFFKKBFBBZ More
14-09-09	Travelzest plc - Holding(s) in Company	RNS
RNS Number : 0130Z Travelzest plc 14 September 2009 14 September 2009 Re: Notification of Major Interest in Shares Travelzest plc was notified on 11 September 2009 that Merchant Securities Group Limited (MSGL), on behalf of its private clients, has a beneficial interest in the shares of Travelzest plc totalling 36,001,955, representing 24.81% of issued share capital. The shares are held on behalf of MSGL's clients with Pershing Nominees Limited. Included in the holding is 39,682 shares held in favour of Mark Molyneux, Chairman of Travelzest plc, representing 0.03% of issued share capital. Also included is 10,751,285 shares held in favour of Andrew Gardner representing 7.41% of issued share capital. This information is provided by RNS The company news service from the London Stock Exchange END HOLXZLFFKKBFBBL More
10-09-09	Travelzest plc - Pledge of ordinary shares	RNS
RNS Number : 8760Y Travelzest plc 10 September 2009 10 September 2009 Travelzest plc (the "Company") Pledge of ordinary shares in the Company Following completion of the placing of 114,170,000 new ordinary shares of 2p each in the Company announced on 9 September 2009, the Company was notified on 9 September 2009 that Jack Fraser, Group Chief Operating Officer and Financial Director, entered into an agreement on 4 September 2009 whereby security over 3,914,113 ordinary shares in the Company (the "Pledged Shares") held by him was granted in favour of LDC Logistics Development Corporation ("LDC"), a Canadian federally incorporated corporation, as security against a personal loan of value CAD350,000 entered into on 4 September 2009 (together the "Pledge Agreement"). Under the terms of the Pledge Agreement, title to the Pledged Shares can be transferred to LDC following the occurrence of certain events including, but not limited to, a default event on the securitised personal loan. In conjunction with the Pledge Agreement, LDC granted to Jack Fraser a put option (the "Put Option") under which Jack Fraser may put all (but not less than all) of the Pledged Shares to LDC for a consideration payable to Jack Fraser of 6 pence per Pledged Share. The Put Option is available to Jack Fraser for a period of 180 days commencing 9 September 2009. In total, Jack Fraser has an interest in 13,280,000 ordinary shares in the Company representing approximately 9.2 per cent. of the Company's issued share capital of 145,136,110 ordinary shares. The Pledged Shares represent approximately 2.7 per cent. of the Company's issued share capital. For further information contact: `Travelzest plc 020 7887 1981` Mark Molyneux / Jack Fraser `Investec Investment Banking 020 7597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END MSCEALNEFSENEFE More
09-09-09	UPDATE 1-Travelzest 2 mln stg placing shortfall met	AFX UK Focus
SECURES 2 MLN STG PLACING SHORTFALL `* Says shares restored on AIM` (Adds details) `Sept 9 (Reuters) - British travel group Travelzest Plc said it had secured a further 2 million pounds to meet its shortfall in planned share placing and that the AIM suspension on its shares was lifted.` `Travelzest said it secured the additional funding by placing about 40 million shares to Merchant Securities, Mark Molyneux, Jack Fraser and others.` `The company said the number of new shares to be issued through the placing remained at 114.2 million, as planned, and that the placing price remained at 5 pence per share.` `Mark Molyneux, the group's non-executive chairman and chief operating officer, now holds 15.6 million shares, or 10.7 percent of the issued shares.` Finance Director Jack Fraser holds 9.2 percent of the company while Merchant Securities holds 36 million shares or 24.8 percent of the company's shares in issue. `The tour operator that offers holidays to naturist resorts requested its shares to be suspended on Sept. 1, after two shareholders had missed the payment of 2 million pounds, as it failed to meet lending agreements with its banks.` `Travelzest said it would have about 145.1 shares in issue after the admission of its new shares.` `Shares of the company were unchanged at 0723 GMT on the London Stock Exchange.` (Reporting by Ramkumar in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: TRAVELZEST/ (ram.kumar@thomsonreuters.com +91 80 41355800; Reuters Messaging: ram.kumar.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
09-09-09	BRIEF-Travelzest directors, shareholders cough up placing shortfall	AFX UK Focus
LONDON, Sept 9 (Reuters) - Travelzest Plc: HAS PROCURED A FURTHER GBP2.0 MILLION OF FUNDING ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
09-09-09	Travelzest plc - Update on Placing of New Ordinary Shares	RNS
RNS Number : 7366Y Travelzest plc 09 September 2009 9 September 2009 Travelzest plc ("Travelzest" or the "Company") Update on Placing of New Ordinary Shares All capitalised terms in this announcement have the same meaning as defined in the circular to Shareholders dated 5 August 2009. Further to the announcements made by the Company on 28 August 2009 concerning the passing of all the Resolutions at the General Meeting and the subsequent non-payment by NewCo of GBP2.0 million to Travelzest which led to a suspension of the Company's shares on 28 August 2009, the Company announces that it has procured a further GBP2.0 million of funding (the "Additional Funding") from certain Placees representing 40,000,000 New Ordinary Shares. In total, therefore, the number of New Ordinary Shares to be issued pursuant to the Placing remains 114,170,000, as was anticipated in the Circular. The Placing Price remains 5 pence per New Ordinary Share. The Additional Funding has been sourced from, inter alia, Merchant Securities, Mark Molyneux and Jack Fraser. Mark Molyneux and Jack Fraser, the Group's non-Executive Chairman and Chief Operating Officer and Financial Director respectively, are each a related party of the Company by virtue of their directorships. The placing of New Ordinary Shares in connection with the Additional Funding to Mark Molyneux and Jack Fraser will, accordingly, be treated as related party transactions under the AIM Rules. Merchant Securities is classified as a related party of the Company by virtue of its substantial shareholding (as defined in the AIM Rules) in the Company. The placing of New Ordinary Shares to Merchant Securities in association with the Additional Funding will, accordingly, be treated as a related party transaction under the AIM Rules. The Directors (other than Mark Molyneux and Jack Fraser), having consulted with Investec in its capacity as Nominated Adviser to the Company, consider that the terms of the related party transactions with the related parties described above are fair and reasonable insofar as the Company's shareholders are concerned. The number of New Ordinary Shares placed with related parties in connection with the Additional Funding and their expected resultant shareholdings following the Placing are set out below. `Name Existing holding % of Existing ISC Shares subscribed Resultant holding % of` `for under the Enlarged` `Placing (including ISC` `in connection with` `the Additional` `Funding)` `Merchant Securities 7,842,273 25.3 28,120,000 35,962,273 24.8%` `Jack Fraser* Nil Nil 13,280,000 13,280,000 9.2%` `Mark Molyneux* 39,682** 0.1 15,520,000 15,559,682 10.7%` EXCLUDES INTERESTS UNDER OPTIONS AND INCENTIVE OPTIONS AS SET OUT IN THE CIRCULAR TO SHAREHOLDERS DATED 5 AUGUST 2009 * REGISTERED IN THE NAME OF PERSHING NOMINEES LIMITED, AN ACCOUNT OF MERCHANT SECURITIES AND INCLUDED IN THE MERCHANT SECURITIES EXISTING AND RESULTANT HOLDING ABOVE The New Ordinary Shares will be issued credited as fully paid and will rank pari passu with the Issued Share Capital (including the right to receive all dividends or other distributions declared, made or paid thereon after the date of Admission). Admission of the New Ordinary Shares to trading on AIM and commencement of dealings are expected to take place on 9 September 2009. The Company has also requested the restoration of the Company's shares to trading on AIM, which is expected to occur at 07:30 on 9 September 2009. Barclays has agreed that the Amended Facility Agreement will become effective on admission of the New Ordinary Shares. On admission of the New Ordinary Shares, the Company will have 145,136,100 Ordinary Shares in issue. This announcement does not form part of any offer of securities, or constitute a solicitation of any offer to purchase or subscribe for securities in any jurisdiction. For further information contact: `Travelzest plc 020 7887 1981` Mark Molyneux / Jack Fraser `Investec Investment Banking 020 7597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END IOEILFLTADITIIA More
09-09-09	AIM - AIM Restoration - Travelzest plc	RNS
RNS Number : 7232Y AIM 09 September 2009 NOTICE (633) 09/09/2009 07:30am RESTORATION OF TRADING ON AIM TRAVELZEST PLC The trading on AIM for the under-mentioned securities was temporarily suspended. The suspension is lifted from 09/09/2009 07:30am, an announcement having been made. Ordinary Shares of 2p each (3284908)(GB0032849084) `fully paid` If you have any queries relating to the above, please contact the nominated adviser on 020 7597 5970. AIM Regulation Ref: AIMNOT633 This information is provided by RNS The company news service from the London Stock Exchange END EXCEVLFBKKBBBBZ More
01-09-09	AIM - AIM Suspension - Travelzest plc	RNS
RNS Number : 2516Y AIM 01 September 2009 NOTICE (617) 01/09/2009 07:00am TEMPORARY SUSPENSION OF TRADING ON AIM TRAVELZEST PLC At the request of the company, trading on AIM for the under-mentioned securities has been temporarily suspended from 01/09/2009 07:00am pending clarification of the company's financial position. Ordinary Shares of 2p each (3284908)(GB0032849084) `fully paid` If you have any queries relating to the above, please contact the company's nominated adviser on 020 7597 5970. AIM Regulation Ref: AIMNOT617 This information is provided by RNS The company news service from the London Stock Exchange END EXCILFIDTIITFIA More
28-08-09	BRIEF-Travelzest seeks revised placing	AFX UK Focus
LONDON, Aug 28 (Reuters) - Travelzest Plc: 7198914 CANADA, INC. ("NEWCO") HAS MISSED THE PAYMENT DEADLINE TO INVEST &POUND;2.0 `million in Travelzest` REQUESTED THAT INVESTEC, AS AGENT FOR THE COMPANY, USES REASONABLE ENDEAVOURS TO PROCURE PLACEES TO SUBSTITUTE FOR THE &POUND;2.0 MILLION WHICH NEWCO HAD CONTRACTED TO INVEST GIVEN THE IMPORTANCE TO THE COMPANY OF THE PLACING THE COMPANY HAS TODAY REQUESTED THE IMMEDIATE SUSPENSION OF ITS ORDINARY SHARES FROM TRADING ON AIM PENDING CLARIFICATION OF ITS FINANCIAL POSITION. HAS HAD POSITIVE DISCUSSIONS WITH ITS BANKERS AND CERTAIN PLACEES AND INTENDS TO PURSUE A REVISED PLACING ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More
28-08-09	Travelzest plc - Suspension of Shares	RNS
RNS Number : 2506Y Travelzest plc 28 August 2009 28 August 2009 Travelzest plc ("Travelzest" or the "Company") Suspension of shares Following the announcement made today at 11.49am regarding the passing of all resolutions at a General Meeting relating to the placing of New Ordinary Shares, the Company announces that 7198914 Canada, Inc. ("Newco") has missed the payment deadline to invest £2.0 million in Travelzest as detailed in the circular to Shareholders dated 5 August 2009 (the "Circular"). Jonathan Carroll and Jack Fraser, two of the five shareholders in Newco, remain committed to investing on the agreed terms. The Company has requested that Investec, as agent for the Company, uses reasonable endeavours to procure placees to substitute for the £2.0 million which Newco had contracted to invest. Given the importance to the Company of the Placing, the Company has today requested the immediate suspension of its Ordinary Shares from trading on AIM pending clarification of its financial position. The Amended Facility Agreement as described in the Circular is dependent on the Placing. The Company has had positive discussions with its bankers and certain placees and intends to pursue a revised Placing. All capitalised terms in this announcement have the same meaning as defined in the circular to Shareholders dated 5 August 2009. For further information contact: `Travelzest plc 0207 887 1978` Mark Molyneux / Jack Fraser `Investec Investment Banking 0207 597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END SUSILFERTVITFIA More
28-08-09	Travelzest plc - Result of General Meeting	RNS
RNS Number : 1959Y Travelzest plc 28 August 2009 28 August 2009 Travelzest plc ("Travelzest" or the "Company") Announcement of result of General Meeting Travelzest plc (the "Company") announces that all resolutions were passed by the Company's shareholders at the General Meeting held earlier today. Full details of the resolutions are set out in the notice of General Meeting contained in the circular to shareholders dated 5 August 2009. Admission of the new ordinary shares of the Company to trading on AIM and commencement of dealings are expected to take place on 1 September 2009 subject to receipt of funds from placees. On admission of the new ordinary shares, the Company will have 145,136,100 ordinary shares in issue. This announcement does not form part of any offer of securities, or constitute a solicitation of any offer to purchase or subscribe for securities in any jurisdiction. For further information contact: `Travelzest plc 0207 887 1978` Mark Molyneux / Jack Fraser `Investec Investment Banking 0207 597 5970` Martin Smith / Duncan Williamson This information is provided by RNS The company news service from the London Stock Exchange END ROMEAEPPALKNEFE More

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