Hilton Food Group PLC Result of Placing (9194T)
October 18 2017 - 3:52AM
UK Regulatory
TIDMHFG
RNS Number : 9194T
Hilton Food Group PLC
18 October 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014).
18 October 2017
Hilton Food Group plc ("Hilton" or the "Company")
Result of Placing
Hilton (LSE: HFG), a leading specialist international meat
packing business, is pleased to announce the result of the placing
announced earlier today (the "Placing").
A total of 7,350,000 new ordinary shares in the Company of 10p
each (the "Placing Shares") have been conditionally placed at a
price of 760p per Placing Share (the "Placing Price"), raising
proceeds of GBP55.9 million (before expenses) to part-fund the
proposed acquisition of Icelandic Group UK Limited ("Seachill"), a
leading chilled fish processor in the UK ("the Acquisition").
The Placing Shares to be issued represent approximately 9.93% of
the Company's existing issued ordinary share capital. The Placing
Price represents a discount of approximately 3.7% to the closing
price of 789p on 17 October 2017.
Numis Securities Limited ("Numis") and Panmure Gordon (UK)
Limited ("Panmure Gordon", and together with Numis, the
"Bookrunners") have acted as joint bookrunners in respect of the
Placing. Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the announcement
released by the Company this morning at 7.00am.
Director participation
The participation of Directors of Hilton who have taken up
Placing Shares at the Placing Price is as follows:
Director Interest Aggregate Number Aggregate Resulting
in Ordinary value of Placing interest holding
Shares of Placing Shares in Ordinary of Ordinary
as at Shares to be Shares Shares
17 October to be acquired following as % of
2017 acquired the Placing enlarged
(GBP) issued
share capital
---------------- ------------- ------------ ------------ ------------- ---------------
Nigel Majewski 93,715 49,992.80 6,578 100,293 0.12%
---------------- ------------- ------------ ------------ ------------- ---------------
Colin Smith 50,000 24,996.40 3,289 53,289 0.07%
---------------- ------------- ------------ ------------ ------------- ---------------
John Worby 7,000 15,200.00 2,000 9,000 0.01%
---------------- ------------- ------------ ------------ ------------- ---------------
Christine
Cross 5,000 76,000.00 10,000 15,000 0.02%
---------------- ------------- ------------ ------------ ------------- ---------------
Admission
The Company will apply for admission of the Placing Shares to
listing on the premium listing segment of the Official List of the
Financial Conduct Authority (the "FCA") and to trading on the main
market for listed securities of London Stock Exchange plc
(together, "Admission"). The Placing is conditional upon, inter
alia, Admission becoming effective and the Acquisition Agreement in
relation to Seachill having become unconditional (save as to
Admission). It is expected that settlement of subscriptions in
respect of the Placing Shares and Admission will take place and
that trading in the Placing Shares will commence at 8.00 a.m. on 7
November 2017, which follows the Hilton general meeting at 10a.m.
on 6 November 2017.
For further information please contact:
Hilton Food Group plc Tel: 01480 387214
Robert Watson OBE, Group
Chief Executive
Nigel Majewski, Chief
Financial Officer
Numis Tel: 020 7260 1000
Mark Lander
Luke Bordewich
Andrew Hackney
Panmure Gordon Tel: 020 7886 2500
Erik Anderson
Andrew Godber
Tom Salvesen
Citigate Dew Rogerson Tel: 020 7638 9571
Angharad Couch
Ellen Wilton
IMPORTANT NOTICE
The Bookrunners, which are both authorised and regulated in the
United Kingdom by the FCA, are acting for the Company and for
no-one else in connection with the matters referred to in this
announcement and will not be responsible to anyone other than the
Company for providing the protections afforded to clients of the
Bookrunners, or for providing advice in relation to the contents of
this announcement or any matters referred to herein.
Apart from the responsibilities and liabilities, if any, which
may be imposed on Numis and/or Panmure Gordon under FSMA or the
regulatory regime established thereunder, neither Numis nor Panmure
Gordon accept any responsibility whatsoever and make no
representation or warranty, express or implied, concerning the
contents of this announcement including its accuracy, completeness
and verification or concerning any other statement made or
purported to be made by it or on behalf of it, in connection with
the Company and the Acquisition. Numis and Panmure Gordon
accordingly disclaim to the fullest extent permitted by law all and
any responsibility and liability whether arising in tort, contract
or otherwise (save as referred to herein) which it might otherwise
have in respect of this document or any such statement.
Certain statements in this announcement may be forward-looking.
Although the Company believes that the expectations reflected in
these forward looking statements are reasonable, it can give no
assurance or guarantee that these expectations will prove to have
been correct. Because these statements involve risks and
uncertainties, actual results may differ materially from those
expressed or implied by these forward looking statements.
Neither the content of the Company's website (or any other
website) nor any website accessible by hyperlinks on the Company's
website (or any other website) is incorporated in, or forms part
of, this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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