Castelnau Group Ltd Results of Issue
May 05 2023 - 3:00AM
UK Regulatory
TIDMCGL
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5 May 2023
Castelnau Group Limited
Results of Issue
On 1 February 2023, Castelnau Group Limited ("Castelnau" or the "Company")
published a prospectus (as amended by a supplementary prospectus published by
the Company on 4 April 2023) (the "Prospectus") containing details of a
proposed placing of new ordinary shares (the "Placing") to raise proceeds for
the Company's funding obligations in respect of the recommended cash offer (the
"Takeover Offer") for Dignity Plc by Yellow (SPC) Bidco Limited ("Bidco"), a
newly formed company indirectly owned or controlled by a consortium comprised
of joint offerors SPWOne V Limited, Castelnau and Phoenix Asset Management
Partners Limited. The Company is pleased to announce that it has raised gross
proceeds of £56.6 million through the Placing of an aggregate of 75,461,138 new
ordinary shares ("Ordinary Shares"). The Placing was well supported by both
existing shareholders of the Company as well as new investors.
A further 26,727,844 Ordinary Shares will be issued in connection with the
Takeover Offer to those Dignity Shareholders who opted for the Listed Share
Alternative. In addition, 32,442,737 Ordinary Shares are to be issued pursuant
to the Consortium Rollover as described in the Prospectus. The aggregate number
of new Ordinary Shares to be issued pursuant to the Placing, Takeover Offer and
Consortium Rollover will be 134,631,719.
Application has been made for the admission ("Admission") of 134,631,719
Ordinary Shares to trading on the Specialist Fund Segment of the Main Market of
the London Stock Exchange, with Admission expected to take effect from 8.00
a.m. on 10 May 2023.
Following Admission, the Company's issued share capital will consist of
318,627,778 Ordinary Shares, with no shares held in treasury. Therefore, the
total number of shares with voting rights in the Company will be 318,627,778.
This figure 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 the Company under the FCA's Disclosure
Guidance and Transparency Rules.
Except where the context requires otherwise, defined terms in this announcement
shall have the meanings given to them in the Prospectus. A copy of the
Prospectus is available on the Company's website at www.castelnaugroup.com,
subject to certain access restrictions.
Graham Shircore, CEO for Castelnau at Phoenix Asset Management Partners
Limited, commented:
"We are pleased with the result of the placing in what is a difficult market
environment. We welcome the new shareholders in Castelnau, who have either
subscribed for new shares or exchanged their Dignity shares, and thank existing
holders who have added to their investment. We think this acquisition will add
substantial value per share to Castelnau Group and we are now focused on
demonstrating that value and justifying your trust in us."
- Ends -
Enquiries
Phoenix Asset Management Limited
+44 (0) 208 600 0100
Gary Channon
Steve Tatters
Liberum Capital Limited (Financial
adviser and sole bookrunner to
Castelnau)
+44 (0) 20 3100 2222
Darren Vickers
Owen Matthews
Will King
Morgan Stanley (Financial adviser to
Bidco)
+44 (0) 20 7425 8000
Laurence Hopkins
Richard Brown
Anusha Vijeyaratnam
Citigate Dewe Rogerson
+44 (0) 20 7638 9571
Caroline Merrell
Toby Moore
Notes
The Company's LEI is: 213800PED8RFUBMK1T64.
A copy of this announcement will be available on the Company's website at
www.castelnaugroup.com. Neither the content of the Company's website, nor the
content on any website accessible from hyperlinks on its website for any other
website, is incorporated into, or forms part of, this announcement nor, unless
previously published by means of a recognised information service, should any
such content be relied upon in reaching a decision as to whether or not to
acquire, continue to hold, or dispose of, securities in the Company.
END
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