Duke Royalty Limited Re-Admission and First Day of Dealings (3903A)
March 23 2017 - 1:00PM
UK Regulatory
TIDMDUKE
RNS Number : 3903A
Duke Royalty Limited
23 March 2017
Duke Royalty Limited
("Duke Royalty" or the "Company")
Re-Admission and First Day of Dealings
St. Peter Port, Guernsey - March 23, 2017 - Duke Royalty
Limited, a public diversified royalty company (AIM: DUKE), is
pleased to announce the commencement of dealings earlier today in
its ordinary shares having successfully raised GBP15 million before
expenses (the "Fundraising"), as announced on 17 March 2017.
The Company's Nominated Adviser, Grant Thornton UK LLP, advised
the Company in relation to its re-admission to AIM and Fundraising
and Cantor Fitzgerald Europe and Mirabaud Securities LLP acted as
Joint Brokers to the Company.
SUMMARY
-- Pursuant to the Fundraising, a total of 37,500,000 New Shares
have been successfully placed or subscribed for in the Company at a
price of 40 pence per share (the "Issue Price"), with new and
existing institutional investors, as well as certain Directors.
-- Gross proceeds of GBP15.0 million (net proceeds GBP13.8
million after expenses) were raised pursuant to the Fundraising
which will be used for the Company's inaugural royalty investments
and working capital, in anticipation of delivering its maiden
dividend to shareholders.
-- The Company is pleased to have several significant
institutional shareholders holding over 3 per cent. of the Company,
including Hargreaves Hale, Brookfield's Partner Value Investments
Inc., AXA Investment Managers, Artemis Investment Management, and
Henderson Global Investors.
-- The number of ordinary shares in issue immediately after
Re-admission is 45,377,459, giving the Company a market
capitalisation of approximately GBP21.6 million as at market
close.
Commenting on the re-admission to AIM and the Fundraising, Neil
Johnson, Chief Executive Officer, said:
"Duke Royalty is the first quoted diversified royalty company in
Europe, and we look forward to bringing our alternative financing
solutions to the European marketplace to help fill the funding gap
for well-run, profitable, private companies across Europe and
abroad.
"The Board has been delighted by the support of its new
investors which are some of the largest investment managers in the
world. The quality of our investors and exclusive global
collaboration partner Oliver Wyman validates our belief in the
exciting opportunity to bring royalty financing to European
companies and UK investors. We look forward to delivering value for
our shareholders in the months and years ahead."
Other than where defined, capitalised terms used in the
announcement have the meanings given to them in the Fundraising
announcement of 17 March 2017.
For further information, please contact:
Duke Royalty Limited Neil Johnson / Charlie Cannon-Brookes
+44 (0) 1481 741 240
Grant Thornton UK LLP Colin Aaronson / Samantha
(Nominated Adviser) Harrison / Jamie Barklem/
Carolyn Sansom
+44 (0) 20 7383 5100
Cantor Fitzgerald Europe Marc Milmo / Catherine Leftley
(Joint Broker) / Callum Butterfield
+44 (0) 207 894 7000
Mirabaud Securities Peter Krens / Edward Haig-Thomas
LLP (Joint Broker)
+44 (0) 20 3167 7222
About Duke Royalty
Headquartered in Guernsey, Duke Royalty Limited provides
alternative financing solutions to a diversified range of
businesses in Europe and abroad. Duke Royalty's experienced team
and exclusive partnership provide financing solutions to private
companies that are in need of capital but whose owners wish to
maintain equity control of their business. Duke Royalty's royalty
investments are intended to provide robust, stable, long term
returns to its shareholders.
Duke Royalty is quoted on AIM, a market operated by the London
Stock Exchange, under the ticker DUKE. For more information, visit
dukeroyalty.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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