Business
Result of placing
Result of placing.
About this update from Chesnara Plc
[{"type":"text","content":"\n RNS Number : 8882W Chesnara PLC 26 November 2010 \n \n\nChesnara plc\n \nNOT FOR RELEASE PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES\n \nChesnara plc\n \n \nResult of Placing raising approximately £26.7 million at a Placing Price of 200 pence per Placing Share\n \nChesnara plc (\"Chesnara\" or \"the Company\") is pleased to announce the successful completion of the placing of new ordinary shares and treasury shares announced earlier today (the \"Placing\").\n \nA total of 10,458,877 new ordinary shares of 5 pence each in the Company (the \"New Shares\") and 2,897,183 ordinary shares of 5 pence each held in treasury (the \"Treasury Shares\") (together the \"Placing Shares\") have been placed by Collins Stewart Europe Limited (\"Collins Stewart\") and Panmure Gordon (UK) Limited (\"Panmure Gordon\") with institutional investors at a price of 200 pence per Placing Share (the \"Placing Price\"). \n \nThe gross proceeds of the Placing will be approximately £26.7 million. The New Shares and the Treasury Shares represent approximately 9.99 per cent. and 2.77 per cent. respectively of the issued ordinary share capital (including shares held in treasury) of Chesnara prior to completion of the Placing. The Placing Shares will represent approximately 11.6% per cent. of the enlarged issued share capital (including shares held in treasury) of Chesnara immediately following completion of the Placing.\n \nThe New Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing ordinary shares of 5 pence each in the share capital of Chesnara, including the right to receive all dividends and other distributions declared, made or paid after the date of issue of the New Shares. Following completion of the Placing, the enlarged issued share capital of the Company will be 115,047,662 ordinary shares of 5 pence each (including shares held in treasury). \n \nAs part of the Placing, certain Directors of the Company have agreed to subscribe for Placing Shares. The number of Placing Shares subscribed by each Director and their resultant interest in the enlarged ordinary share capital of the Company is set out below:\n \n\n\n\n\nDirector/PDMR\n\n\...