Business
Proposed Placing
Proposed Placing.
About this update from Cirata Plc
[{"type":"text","content":"\n \nRNS Number : 8073A WANdisco Plc 10 June 2016 \n\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN 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, THE REPUBLIC OF IRELAND, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n10 June 2016\nWANdisco plc\nProposed Offer of 6,465,517 new Ordinary Shares at 160 pence per share\n1. Introduction\nWANdisco plc (LSE: WAND) (\"WANdisco\", the \"Company\" and, together with its subsidiary undertakings, the \"Group\"), the leading provider of non-stop Big Data, today announces a conditional offering of 6,465,517 new ordinary shares of ten pence each (\"Ordinary Shares\") in the capital of the Company (the \"New Ordinary Shares\") at a price of 160 pence per New Ordinary Share (the \"Placing Price\") to raise gross proceeds of approximately $15 million (before expenses).\nCertain of the New Ordinary Shares are being placed by Investec Bank plc (\"Investec\") to certain existing shareholders (such shares to be referred to as the \"Placing Shares\", and the placing by Investec to such shareholders to be referred to as the \"Placees\", and the placing of the Placing Shares to Placees to be referred to as the \"Placing\"). The Company has concurrently conducted a direct placement of the new Ordinary Shares to certain placees (the \"Subscription\"). The Placing and the Subscription are together referred to as the \"Offer\".\nThe New Ordinary Shares will represent approximately 17.76 per cent. of the enlarged issued ordinary share capital of the Company immediately following admission to AIM (\"Admission\"). The Placing Price represents a premium of approximately 3.2 per cent. to the closing mid-market price of 155 pence per existing Ordinary Share on 9 June 2016, being the latest practicable date prior to the publication of this Announcement.\nThe Board believes that raising equity finance using the flexibility provided by a non pre-emptive placing is the most appropriate and optimal structure for the Company at this time. This allows certain existing institutional holders and new institutional and other investors the opportunity to pa...