Business
Proposed Director Placing
Proposed Director Placing.
About this update from Cerillion Plc
[{"type":"text","content":"\n \n \n RNS Number : 3059P\n Cerillion PLC\n 08 June 2020\n \n \n \n \n 8 June 2020\n \n \n AIM: CER\n \n \n Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or any other jurisdiction in which such release, publication or distribution would be unlawful.\n \n \n Please see the Important Notice at the end of this announcement.\n \n \n Cerillion plc\n \n \n (\"Cerillion\" or \"the Company\")\n \n \n Proposed Director Placing\n \n \n Cerillion announces that, in response to investor demand, it has been notified by Guy O'Connor and Oliver Gilchrist (together the \"Executive Directors\") of their intention to respectively sell up to 2,391,853 and 352,895 ordinary shares of 0.5 pence each in the Company (\"Placing Shares\") to qualified investors (the \"Placing\"). The Placing will be priced at 255 pence per Placing Share. The Placing Shares represent approximately 9.3% of the Company's issued share capital.\n \n \n The Placing will be conducted by means of an accelerated bookbuild to qualified institutional investors, which will be launched immediately following this announcement.\n \n \n Liberum Capital Limited (\"Liberum\") is acting as sole bookrunner in connection with the Placing. The final number of Placing Shares will be determined at the close of the bookbuild process and the distribution of allocations will be at the absolute discretion of the Bookrunner. The results of the Placing will be announced as soon as practicable thereafter.\n \n \n Assuming all the Placing Shares are sold, Guy O'Connor will, following completion of the Placing, no longer hold any shares in the Company and Oliver Gilchrist will have a total interest of 352,895 ordinary shares, representing 1.2% of the issued share capital of the Company.\n \n \n The Company is not a party to the Placing and will not receive any proceeds from the Placing.\n \n \n This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Oliver Gilchrist.\n \n \n \n \n \n \n \n \n Cerillion plc\n \n \n \n \n c/o KTZ Communications\n \n \n \n \n \n \n Louis Hall, CEO\n \n \n \n \n T: 020 3178 6378\n \n \n \n \n \n \...