Business
Results of Placing
Results of Placing.
About this update from Asos Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\nPLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \nLEI: 213800H8DBB8JSKDW630\nFor immediate release\n26 May 2023\n \nASOS plc\n(\"ASOS\" or the \"Company\")\nResults of Placing\nASOS announces the successful completion of a placing of new ordinary shares in the capital of the Company (\"Ordinary Shares\"), raising gross proceeds of approximately £75 million in support of its Driving Change agenda, designed to return the business to sustainable profitability and cash generation in H2 FY23 and beyond.\nA key pillar of the Driving Change agenda is a robust and flexible balance sheet. This, in conjunction with the new financing arrangements detailed in the announcement made on 25 May 2023, provides financial flexibility and creates a stable base for ASOS' continued execution of its strategy and future return to growth.\nAs announced yesterday, the equity raise includes a fully underwritten non-pre-emptive placing of ordinary shares in the capital of the Company (the \"Placing\") and a retail offer via the PrimaryBid platform (the \"Retail Offer\"). The Retail Offer remains open to enable retail investors more time to participate in the equity raise. The Company will announce the number of Ordinary Shares subscribed to by retail investors via the PrimaryBid platform (the \"Retail Shares\") after the Retail Offer has closed.\nA total of 17,938,292 new Ordinary Shares in the capital of the Company (the \"Placing Shares\") have been placed by J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove (\"J.P. Morgan\" or \"JPMC\") and Numis Securities Limited (\"Numis\"), acting as joint global coordinators (the \"Joint Global Coordinators\"), and Joh. Berenberg, Gossler & Co. KG, London Branch (\"Berenberg\") (who, together wit...