TIDMTEG
RNS Number : 1590M
Numis Securities Limited
26 April 2018
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION,
INCLUDING THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.
RESULT OF PLACING OF 9.7 MILLION ORDINARY SHARES IN TEN
ENTERTAINMENT GROUP PLC ("TEG") BY CERTAIN HARWOOD FUNDS AND
MANAGEMENT SELLERS
26 April 2018
Further to yesterday's announcement, Harwood Capital LLP (and
certain of its associates) (together, the "Harwood Funds") have
sold 8,921,834 ordinary shares of 1 pence each in TEG ("Ordinary
Shares"), Nick Basing (Chairman of TEG, the "Chairman") has sold
450,000 Ordinary Shares, Alan Hand (Chief Executive Officer of TEG)
has sold 217,037 Ordinary Shares and Graham Blackwell (Chief
Commercial Officer of TEG) has sold 130,798 Ordinary Shares
(together the "Sellers"). In aggregate the Sellers have sold
9,719,669 Ordinary Shares (the "Placing Shares") representing 15.0
per cent. of TEG's existing issued share capital, at a price of 240
pence per share (the "Placing").
The Harwood Funds and the Chairman have entered into lock-up
arrangements with Numis and Peel Hunt in relation to the remainder
of the Ordinary Shares held by them which expire 7 days after the
publication of TEG's 2018 interim results (subject to waiver by
Numis and Peel Hunt and to certain exceptions). Alan Hand and
Graham Blackwell have entered into 365 day lock-up arrangements in
relation to the remainder of the Ordinary Shares held by them with
Numis and Peel Hunt (subject to waiver by Numis and Peel Hunt and
to certain exceptions).
The Placing was conducted through an accelerated bookbuild.
Numis and Peel Hunt acted as Joint Bookrunners for the Sellers in
connection with the Placing.
The proceeds of the Placing are payable in cash on usual
settlement terms, and settlement of the Placing is expected to
occur on a T+2 basis on 30 April 2018.
Contacts / Enquiries
Numis
Oliver Cardigan / Michael Burke
+44 (0)20 7260 1000
Peel Hunt
Rory James-Duff / Adrian Trimmings / George Sellar
+44 (0)20 7418 8900
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
Important Notice
MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN
THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH
IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT (1) IN ANY MEMBER
STATE OF THE EUROPEAN ECONOMIC AREA, PERSONS WHO ARE QUALIFIED
INVESTORS WITHIN THE MEANING OF ARTICLE 2(1)(E) OF EU DIRECTIVE
2003/71/EC (AND ANY AMENDMENTS THERETO, INCLUDING DIRECTIVE
2010/73/EU) AND ANY RELEVANT IMPLEMENTING MEASURES (THE "PROSPECTUS
DIRECTIVE"); AND (2) IN THE UNITED KINGDOM, PERSONS WHO (I) HAVE
PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL
WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
(FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER"); OR
(II) FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR (III) ARE
PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE
LAWFULLY BE MADE (ALL SUCH PERSONS REFERRED TO IN (1) AND (2)
TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION
REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE
ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY
INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT
RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED
IN ONLY WITH RELEVANT PERSONS.
This announcement and the information contained herein is for
information purposes only and does not constitute or form part of
any offer of, or the solicitation of an offer to acquire or dispose
of securities in the United States, Canada, Australia, South Africa
or Japan or in any other jurisdiction in which such an offer or
solicitation is unlawful.
The securities referred to herein have not been, and will not
be, registered under the US Securities Act of 1933, as amended (the
"US Securities Act"), or under the applicable securities laws of
any state or other jurisdiction of the United States or of Canada,
Australia, South Africa or Japan. Such securities may not be
offered or sold in the United States unless registered under the US
Securities Act or offered in a transaction exempt from, or not
otherwise subject to, the registration requirements of the US
Securities Act and the securities laws of any relevant state or
other jurisdiction of the United States. There will be no public
offering of such securities in the United States or in any other
jurisdiction.
The securities referred to herein have not been approved or
disapproved by the US Securities and Exchange Commission, any state
securities commission or other regulatory authority in the United
States, nor have any of the foregoing authorities passed upon or
endorsed the merits of the Placing or the accuracy or adequacy of
this announcement. Any representation to the contrary is a criminal
offence in the United States.
No prospectus or offering document has been or will be prepared
in connection with the Placing. Any investment decision to buy
securities in the Placing must be made solely on the basis of
publicly available information. Such information is not the
responsibility of and has not been independently verified by any of
the Sellers, Numis, Peel Hunt or any of their respective
affiliates.
Neither this announcement nor any copy of it may be taken,
transmitted or distributed, directly or indirectly, in or into or
from the United States (including its territories and possessions,
any state of the United States and the District of Columbia),
Canada, Australia, South Africa or Japan. The distribution of this
announcement may be restricted by law in certain jurisdictions and
persons into whose possession this document or other information
referred to herein comes should inform themselves about and observe
any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction.
The distribution of this announcement and the offering or sale
of the Placing Shares in certain jurisdictions may be restricted by
law. No action has been taken by the Sellers, Numis, Peel Hunt or
any of their respective affiliates that would, or which is intended
to, permit a public offer of the Placing Shares in any jurisdiction
or possession or distribution of this announcement or any other
offering or publicity material relating to the Placing Shares in
any jurisdiction where action for that purpose is required. Persons
into whose possession this announcement comes are required by the
Sellers, Numis and Peel Hunt to inform themselves about and to
observe any applicable restrictions.
Numis and Peel Hunt, who are authorised and regulated by the
Financial Conduct Authority in the United Kingdom are acting only
for the Sellers and no-one else in connection with the Placing.
They will not regard any other person as their client in relation
to the Placing and will not be responsible to anyone other than the
Sellers for providing the protections offered to the clients of
Numis or Peel Hunt nor for providing advice in relation to the
Placing or any matters referred to in this announcement.
This document includes statements that are, or may be deemed to
be, forward-looking statements. These forward-looking statements
may be identified by the use of forward-looking terminology,
including the terms "intends", "expects", "will", or "may", or, in
each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward-looking
statements include all matters that are not historical facts. Any
forward-looking statements are subject to risks relating to future
events and assumptions relating to TEG's business, in particular
from changes in political conditions, economic conditions, evolving
business strategy, or the retail industry. No assurances can be
given that the forward-looking statements in this document will be
realised. As a result, no undue reliance should be placed on these
forward-looking statements as a prediction of actual results or
otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIPGUQPCUPRPWA
(END) Dow Jones Newswires
April 26, 2018 02:01 ET (06:01 GMT)
Ten Entertainment (LSE:TEG)
Historical Stock Chart
From Apr 2024 to May 2024
Ten Entertainment (LSE:TEG)
Historical Stock Chart
From May 2023 to May 2024