Business
Proposed Placing
Proposed Placing.
About this update from Craneware Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0854B\n Craneware plc\n 07 June 2021\n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n For immediate release\n \n \n LEI: 213800O2CTJ1YFXNXG05\n \n \n 7 June 2021\n \n \n Craneware plc\n \n \n (\"Craneware\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Proposed accelerated bookbuild to raise gross proceeds of approximately £140 million ($199 million*) in connection with the acquisition of SDS Holdco, Inc. (\"Sentry\")\n \n \n \n \n \n Introduction\n \n \n Craneware (AIM: CRW.L), a market leader in Value Cycle solutions for the US healthcare market, today announces a proposed placing to institutional investors of new ordinary shares of one pence each (\"Ordinary Shares\") (the \"Placing Shares\") to raise approximately £140m ($199m*) (before expenses) (the \"Placing\").\n \n \n The Placing is being conducted through an accelerated bookbuild process (the \"Bookbuild\") which will be launched immediately following release of this Announcement in accordance with the terms and conditions of the Placing set out in the appendix to this announcement (the \"Appendix\") which forms part of this announcement, such announcement and the Appendix together being this \"Announcement\". The Placing Price will be determined at the end of the Bookbuild. The Placing Shares are expected to represent approximately 23 per cent. of the Company's current issued share capital.\n \n \n Certain of the UK based directors and management of the Company (including Keith Neilson (CEO) and Craig Preston (CFO)) intend to participate in the Placing, amounting to proceeds of approximately £0.27\n m\n ($0.38m) in aggregate.\n \n \n Goldman Sachs International (\"Goldman Sachs\"), Peel Hunt LLP (\"Peel Hunt\"), Investec Bank plc (\"Investec Bank\" and together with Investec Euro...