Business
Results of Placing
Results of Placing.
About this update from Autotrader Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4331I\n Auto Trader Group plc\n 01 April 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.\n \n \n \n \n \n 1 April 2020\n \n \n AUTO TRADER GROUP PLC\n \n \n \n \n \n RESULTS OF PLACING\n \n \n Auto Trader Group plc (\"Auto Trader\" or the \"Company\" or, together with its subsidiaries, the \"Group\"), announces the successful completion of the placing of ordinary shares announced earlier today (the \"Placing\").\n \n \n The Placing will raise gross proceeds of approximately £186 million for the Company. A total of 46,468,300 new ordinary shares in the Company (the \"Placing Shares\") have been placed by BofA Securities, the sole bookrunner, at a price of 400.0 pence per Placing Share (the \"Placing Price\"), a discount of 8.9 per cent to the closing share price of 439.1 pence on 31 March 2020 and a premium of 0.9 per cent to the middle market price at the time at which the Company and BofA Securities (as sole bookrunner) agreed the Placing Price. The Placing Shares being issued represent approximately 5% of the current issued ordinary share capital of Auto Trader.\n \n \n The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares in the Company, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.\n \n \n Applications have been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority (the \"FCA\") and to be admitted to trading on the main market for listed securities of London Stock Exchange plc (together, \"Admission\"). Settlement for the Placing Shares and Admission is expected to take place on or before 8.00 a.m. on 3 April 2020. The Placing is conditional, among other things, upon Admission becoming effective and the placing agreement between the Company and BofA Securities (as sole bookrunner...