Business
Launch announcement
Launch announcement.
About this update from Compass Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 3184N\n Compass Group PLC\n 19 May 2020\n \n \n \n \n \n \n \n Compass Group PLC LEI: 2138008M6MH9OZ6U2T68\n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION IN THEM, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n Compass Group PLC Press Release\n \n \n 19 May 2020\n \n \n \n \n \n Proposed Placing of New Ordinary Shares\n \n \n Compass Group PLC (\"Compass\", the \"Group\" or the \"Company\"), the world's leading food service company, \n announces its intention to raise new equity to reduce leverage, enhance liquidity and strengthen its position into recovery through a non‑pre‑emptive placing of new ordinary shares (the \"Placing Shares\") of 11 1/20 pence each in the capital of the Company (the \"Placing\").\n \n \n \n In conjunction with the Placing, directors and members of the senior management team of the Company intend to subscribe (the \"Subscription\") for new ordinary shares in the capital of the Company (the \"Subscription Shares\") at the Placing Price (as defined below) and to contribute approximately £1.1m in total. In addition to the Placing and the Subscription, there will be an offer made by the Company on the PrimaryBid platform of new ordinary shares in the capital of the Company (the \"Retail Offer Shares\") at the Placing Price (the \"Retail Offer\"), to provide retail investors with an opportunity to participate. A separate announcement will be made shortly regarding the Retail Offer and its terms. The Company intends to raise gross proceeds of approximately £2.0bn through the Placing, the Subscription and the Retail Offer.\n \n \n The Placing will be conducted through an accelerated bookbuilding process (the \"Bookbuilding Process\") which will be launched immediately following this announcement. The Placing is subject to the terms and conditions set out in Appendix 1 to this anno...