Business
Proposed Placing
Proposed Placing.
About this update from Asos Plc
[{"type":"text","content":"\n \nRNS Number : 2454R ASOS PLC 23 October 2013 \n \n\nNOT 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. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nPROPOSED PLACING OF APPROXIMATELY 1.88 MILLION ORDINARY SHARES IN ASOS PLC (THE \"COMPANY\") BY OR ON BEHALF OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM\n \n23 October 2013\n \nOn 24 May 2012 the Company announced that under the Management Incentive Plan (the \"Plan\") it approved the exchange of subordinated ordinary shares in ASOS.com Limited, for a total of 4,000,822 ordinary shares with a nominal value of 3.5 pence each in the Company (\"Ordinary Shares\"), which were allotted to the participants in the Plan. \n \nFollowing the release of the second tranche of these Ordinary Shares under the Plan on 30 September 2013, certain members of the Senior Management team of the Company, including Nicholas Robertson (CEO) and Nicholas Beighton (CFO) (together the \"Sellers\"), announce their intention to sell in aggregate approximately 1.04 million Ordinary Shares (the \"Plan Shares\"). In addition, Nicholas Robertson announces his intention to sell approximately 0.84 million Ordinary Shares issued to him pursuant to the exercise of share options (together with the Plan Shares, the \"Placing Shares\"). The Placing Shares represent approximately 2.3% of the Company's issued share capital.\n \nThe Placing Shares are being offered to institutional investors by way of an accelerated bookbuild (the \"Placing\"), which will be launched immediately following release of this announcement. J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) (\"J.P. Morgan Cazenove\") and Numis Securities Limited (\"Numis Securities\") are acting as joint bookrunners in connection with the Placing.\n \nAny Ordinary Shares held by the Sellers which are not sold in the Placing will be subject to a 180-day lock-up. The Placing Shares, in all respects, rank pari passu with the Company's ordinary shares.\n \nThe final number of Placing Shares to be placed will be agreed by J.P. Morgan Cazenove, N...