Business
Buy-back of shares from Antler EquityCo S.à r.l.
Buy-back of shares from Antler EquityCo S.à r.l..
About this update from Baltic Classifieds Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OR THE SOLICITATION OF AN OFFER TO BUY IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, OF THE SECURITIES REFERRED TO HEREIN IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SALES WOULD BE PROHIBITED BY APPLICABLE LAW.\n \n15 July 2024\nBaltic Classifieds Group PLC \n(the \"Company\") \nBuy-back of 4.2 million shares in the Company from Antler EquityCo S.à r.l. and sale of approximately 59 million shares in the Company by Antler EquityCo S.à r.l. through a secondary placing\n \nAntler EquityCo S.à r.l. (\"Antler\"), which is controlled by funds advised by Apax Partners LLP (\"Apax\"), has announced that it has sold approximately 63 million ordinary shares in the capital of the Company, representing approximately 13% of the Company's issued ordinary share capital, at a price of 247 pence per share (the \"Placing Price\") raising gross sale proceeds of approximately £156 million. This represents a full exit by Antler of its position in the Company.\n \nThe sale comprises approximately 59 million ordinary shares of the Company sold by Antler to institutional investors raising gross proceeds of approximately £146 million (the \"Placing\") and 4.2 million ordinary shares of the Company sold by Antler to the Company raising gross sale proceeds of approximately £10 million (the \"Off-Market Purchase\"). The Placing was upsized by approximately 100% from the original Placing size of 30 million ordinary shares (as announced on 12 July 2024).\n \nThe Off-Market Purchase was conducted at the Placing Price pursuant to a contract (the \"Buyback Contract\") between Antler and the Company, which was approved by the shareholders of the Company at its Annual General Meeting on 27 September 2023.\n \nBofA Securities Europe SA (\"BofA Securities\") acted as sole Global Coordinator in connection with the Placing. Settlement of the Placing and the Off-Market Purchase is...