Driver Group plc Share Placing (4127K)
July 30 2013 - 2:01AM
UK Regulatory
TIDMDRV
RNS Number : 4127K
Driver Group plc
30 July 2013
30 July 2013
Driver Group plc
("Driver" or the "Company")
Share Placing
Driver, the global construction consultancy to the construction
and engineering industries, today announces that Charles Stanley
Securities has undertaken a placing of shares on behalf of Stephen
Driver, the former Chairman, as well as certain other
investors.
It was announced on 14 June 2013 that Mr Driver had resigned
from his position as Non-Executive Director as part of a succession
plan agreed at the time of the Board restructuring in 2011.
Subsequently Stephen Driver indicated he wished to place his entire
shareholding in the Company.
Following a recent round of investor presentations by the
Company, Charles Stanley Securities has identified significant
investor demand for the Company's shares. As a result, a
combination of both new and existing institutional investors have
acquired a total of 4,503,766 ordinary shares in the Company,
representing approximately 17.1 per cent. of the total issued share
capital of the Company, in an oversubscribed placing.
Alan McClue, Non-Executive Chairman, commented:
"We welcome the recent investment, interest and support for
Driver demonstrated by the number of highly regarded institutional
investors that have participated in this oversubscribed placing. We
believe that our shareholders, both new and existing, have
recognised that our strategy to grow the business will generate
significant returns for all our shareholders and I specifically
would like to welcome the new investors onto the Driver share
register."
Enquiries:
Driver Group plc
David Webster, Chief Tel: +44 (0) 1706 223999
Executive
Damien McDonald, Group
Finance Director
Alan McClue, Non-executive Tel: +44 (0) 7791 546798
Chairman
Charles Stanley Securities
Nominated Adviser &
Broker
Marc Milmo / Carl Holmes Tel: +44 (0) 207 149
6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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