CORRECTION TO PUBLIC OFFERING & PLACEMENT ANNOUNCEMENT & NEWS UPDATE
The directors of Arrinera Automotive Holding PLC ("AAH") would like to announce a correction to its previous statement dated 12th June 2014, AAH is looking to undertake a private placement of its shares and not as previously stated undertake a public offer.
The directors of Arrinera Automotive Holding PLC ("AAH") are pleased to announce that with the recent admission to the GXG First Quote market on the GXG Global Exchange, AAH has now commenced a Euro 2.5 million placement at 10 euros per ordinary share. This placement is not open to Danish investors, nor is being marketed in Denmark.
The proceeds of funds will be used in the completion of the project, build of 3 prototypes of the Arrinera Hussarya, and presentation the supercar at the Geneva Motor Show in March 2015. The Hussarya preliminary catalogue will be issued to potential buyers in the 3rd quarter as well as tests of Arrinera Hussarya will be provided in the 4th quarter of this year.
AAH is planning to commence production and selling of its Arrinera Hussarya supercar in the second half of 2015.
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