Begbies Traynor Group PLC Result of Placing (8898G)
July 26 2019 - 6:51AM
UK Regulatory
TIDMBEG
RNS Number : 8898G
Begbies Traynor Group PLC
26 July 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
26 July 2019
Begbies Traynor Group plc
Result of Placing
Begbies Traynor Group plc (the "Company" or the "Group"), the
business recovery, financial advisory and property services
consultancy, is pleased to announce that, further to the
announcement made earlier today regarding the proposed Placing (the
"Placing Announcement"), the Bookbuild has been successful and is
now closed.
The Company has successfully placed 11,041,440 new Ordinary
Shares (the "Placing Shares") at a Placing Price of 75 pence per
share, raising gross proceeds of GBP8.3 million.
The Placing Price represents a discount of approximately 3.8 per
cent. to the closing mid-market price of an Ordinary Share of 78
pence on 25 July 2019, the latest practicable date prior to the
publication of the Placing Announcement. The Placing, which was
oversubscribed, was supported by new and existing investors and was
conducted through an accelerated bookbuild process. Canaccord
Genuity and Shore Capital acted as joint bookrunners in connection
with the Placing.
The Placing Shares represent approximately 9.6 per cent. of the
existing issued share capital of the Company.
The Placing Shares will, when issued, rank pari passu in all
respects with the existing Ordinary Shares. Application will be
made for the Placing Shares to be admitted to trading on AIM and
Admission is expected to take place on or around 1 August 2019.
Completion of the Placing is conditional on, inter alia,
Admission.
Following the issue of the Placing Shares, the Company's issued
share capital will consist of 125,563,923 Ordinary Shares, with
voting rights. This figure may be used by shareholders of the
Company as the denominator for the calculation by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
Capitalised terms used in this announcement have the meanings
given to them in the Placing Announcement, unless the context
provides otherwise.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via Regulatory Information Service, this
inside information is now considered to be in the public domain.
The person responsible for arranging the release of this
announcement on behalf of the Company is John Humphrey, General
Counsel and Group Company Secretary.
Enquiries please contact:
Begbies Traynor Group plc 0161 837 1700
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director
Canaccord Genuity Limited 020 7523 8350
(Nominated Advisor and Joint Broker)
David Tyrrell / Emma Gabriel
Shore Capital 020 7408 4090
(Joint Broker)
Mark Percy / Anita Ghanekar
MHP Communications 020 3128 8572
Reg Hoare / Katie Hunt / Pete
Lambie
Information on Begbies Traynor Group can be accessed via the
group's website at www.begbies-traynorgroup.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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July 26, 2019 06:51 ET (10:51 GMT)
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