Business
Proposed Acquisition, Primary & Secondary Placing
Proposed Acquisition, Primary & Secondary Placing.
About this update from Brck Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5487A\n Brickability Group PLC\n 02 June 2021\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER, THIS \"ANNOUNCEMENT\") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n 2 June \n 2021\n \n \n \n \n \n Brickability Group plc\n \n \n Proposed acquisition of Taylor Maxwell\n \n \n \n \n \n \n Proposed primary placing to raise gross proceeds of £\n \n \n 55\n \n \n million\n \n \n \n and\n \n \n Proposed secondary placing to raise gross proceeds of £38 million\n \n \n \n \n \n Brickability Group plc (AIM: BRCK)\n (\"Brickability\", the \"Company\" or, together with its subsidiary undertakings, the \"Group\"), \n the leading construction materials distributor,\n is pleased to announce the conditional acquisition of \n Taylor Maxwell Group (2017) Limited (\"Taylor Maxwell\")\n , one of the UK's leading suppliers of timber and non-combustible cladding to the construction industry, for a consideration of up to £63 million. In order to finance the Acquisition and to \n help fund future bolt-on acquisitions\n , the Company has conditionally raised £55 million (before fees and expenses) by way of a placing \n of 57,894,737 new ordinary shares of one penny each (\"Ordinary Shares\") at a price of \n 95\n pence per share (the \"Issue Price\") with new and existing institutional investors (the \"Placing\"). In addition, in order to meet market demand, certain selling shareholders have also conditionally raised a further £38 million through the sale of \n 40,000,000\n existing Ordinary Shares at the Issue Price (the \"Sale\").\n \n \n \n \n \n Highlight...