Catena Group PLC Equity Subscription & Issue of Conv Loan Notes (9210E)
March 04 2020 - 2:00AM
UK Regulatory
TIDMCTNA
RNS Number : 9210E
Catena Group PLC
04 March 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
4 March 2020
Catena Group PLC
("Catena" or the "Company")
Result of Equity Subscription and Issue of Convertible Loan
Notes
Further to the announcement made on 3 March 2020, Catena Group
plc is pleased to announce that it has raised gross proceeds of
GBP1.5 million before expenses by way of a subscription of
4,000,000 new Ordinary Shares (the "Subscription Shares") at a
price of 25 pence per share ("Issue Price") (the "Subscription")
and the issue of GBP0.5 million convertible loan notes ("Loan
Notes"). The net proceeds will be used to finance the proposed
investment in Insight Capital Partners Ltd.
The Issue Price represents a discount of 9.1 per cent. to the
closing price of 27.50 pence on 2 March 2020. The Subscription and
the issue of the Loan Notes are both conditional on admission of
the Subscription Shares to trading on AIM. The Subscription Shares
represent approximately 10.1 per cent. of the Company's issued
share capital as enlarged by the Subscription. If the Loan Notes
were to be converted in full, this would then result in the issue
and allotment of a further 2,000,000 new Ordinary Shares.
Related Party Transactions
Matthew Farnum-Schneider, Chief Executive of the Company, has
subscribed for Subscription Shares as outlined below:
Shareholder Number of Number of Shareholding % of Enlarged
Existing Ordinary Subscription following Issued Share
Shares Shares subscribed the Subscription Capital
for
Matthew Farnum-Schneider 0 100,000 100,000 0.25%
------------------- ------------------- ------------------ --------------
Matthew Farnum-Schneider is a director of the Company and
therefore classified as a related party under the AIM Rules.
Matthew has participated in the Subscription in respect of 100,000
Subscription Shares at the Issue Price and his participation is
considered a related party transaction for the purposes of the AIM
Rules. The Directors, excluding Matthew Farnum-Schneider, having
consulted with the Company's nominated advisor, Cantor Fitzgerald
Europe, consider the terms of Matthew's participation in the
Subscription to be fair and reasonable insofar as the Company's
shareholders are concerned.
Richard Bernstein, a significant shareholder, has subscribed for
Subscription Shares as outlined below:
Shareholder Number of Number of Shareholding % of Enlarged
Existing Ordinary Subscription following Issued Share
Shares Shares subscribed the Subscription Capital
for
Richard Bernstein 10,606,000 140,000 10,746,000 27.16%
------------------- ------------------- ------------------ --------------
Richard Bernstein is a significant shareholder in the Company
and therefore classified as a related party under the AIM Rules.
Richard has participated in the Subscription in respect of 140,000
Subscription Shares at the Issue Price and his participation is
considered a related party transaction for the purposes of the AIM
Rules. The Directors, having consulted with the Company's nominated
advisor, Cantor Fitzgerald Europe, consider the terms of Richard's
participation in the Subscription to be fair and reasonable insofar
as the Company's shareholders are concerned.
Admission
Application has been made to the London Stock Exchange for the
Subscription Shares to be admitted to trading on AIM ("Admission")
and it is expected that Admission will occur at 8.00 a.m. on 9
March 2020.
Total Voting Rights
Following Admission, the Company will have 39,561,638 Ordinary
Shares in issue, none of which will be held in treasury.
Accordingly, the total number of voting rights in the Company will
be 39,561,638 and shareholders may use this figure 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.
Definitions
Other than where defined, capitalised terms used in this
announcement shall have the same meaning as those set out in the
"Equity subscription and convertible loan note" announcement
released at 7:01 a.m. on 3 March 2020.
* ENDS *
This announcement has been released by Matthew Farnum-Schneider,
Chief Executive, on behalf of the Group.
For further information, please visit www.catenagroup.co.uk or
contact:
Catena Group PLC
Matthew Farnum-Schneider +44 (0)20 3743 2543
Cantor Fitzgerald Europe (Nomad and Broker)
David Foreman/Michael Boot/Adam Dawes +44 (0)20 7894 7000
St Brides (Financial PR)
Catherine Leftley/Beth Melluish +44 (0)20 7236 1177
Notification of Dealing Forms
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Matthew Farnum-Schneider
2 Reason for the notification
a) Position/status Chief Executive
b) Initial notification/ Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Catena Group PLC
b) LEI 21380098CKBAG1NWCD98
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code GB00BYV31355
b) Nature of the transactions Subscription for Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
25p 100,000
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 3 March 2020
f) Place of the transaction London Stock Exchange
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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