Business
Result of the Placing
Result of the Placing.
About this update from Cohort Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT 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, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN COHORT PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF COHORT PLC.\n \nFor immediate release\n21 November 2024\nCOHORT PLC\n(\"Cohort\", \"the Company\" or \"the Group\")\n \nResult of the Placing\n \n \nCohort plc (AIM: CHRT), the independent technology group, is pleased to announce that, following the announcement made earlier today regarding the Fundraise (the \"Launch Announcement\"), it has conditionally raised gross proceeds of £40 million by way of a Placing (the \"Placing\") of 4,571,428 New Ordinary Shares of 10 pence each in the capital of the Company (the \"Placing Shares\") at a price of 875 pence per Placing Share (the \"Issue Price\"). Allocations in the Placing will be confirmed to Placees as soon as practicable today.\nInvestec Bank plc (\"Investec\" or the \"Bookrunner\") is acting as bookrunner and nominated adviser in connection with the Placing.\nCapitalised terms not defined in this announcement (this \"Announcement\") have the meanings given to them in the Launch Announcement.\n \nHighlights\n· The Company has conditionally raised gross proceeds of £40 million through the Placing at the Issue Price.\n· Cohort proposes to use the net proceeds of the Placing to partly fund the cash consideration payable by the Company for the acquisition of EM Solutions (the \"Acquisition\"), as announced by Cohort separately earlier today (the \"Acquisition Announcement\").\n· The Issue Price represents a discount of approximately 4.3 ...