Business
Update on Proposed Placing
Update on Proposed Placing.
About this update from Craneware Plc
[{"type":"text","content":"\n \n \n RNS Number : 8913V\n Craneware plc\n 12 August 2020\n \n \n \n \n \n \n \n THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF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 \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. \n \n \n \n \n \n \n LEI: 213800O2CTJ1YFXNXG05\n \n \n \n \n \n 12 August 2020\n \n \n \n \n \n Craneware plc\n \n \n (\"Craneware\", the \"Company\" or, the \"Group\"),\n \n \n Decision not to proceed with Proposed Placing \n \n \n \n \n \n Craneware plc (AIM: CRW.L) announces that, despite the successful launch of the accelerated bookbuild and a strong oversubscription for approximately £83m from new and existing investors at a price per share of 1550p, the Board has decided that it would be in the best interests of the Company and its shareholders not to proceed with the Placing and the Placing Agreement has been terminated. This decision has been taken following news in the US overnight that the Company's proposed primary acquisition target has agreed acquisition terms with a third party, meaning certain conditions set out in the Placing Agreement would not have been able to be satisfied. \n \n \n \n \n \n Capitalised terms used in this announcement have the meanings given to them in the Placing Announcement, unless the context provides otherwise.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Craneware plc\n \n \n Keith Neilson, CEO\n \n \n Craig Preston, CFO\n \n \n \n \n +44 (0)131 550 3100\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Peel Hunt (NOMAD and Joint Broker) \n \n \n Dan Webster \n \n \n George Sellar\n \n \n Andrew Clark\n \n \n Will Bell\n \n \n \n \n +44 (0)20 7418 8900\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank (Joint Broker)\n \n \n Patrick Robb\n \n \n Henry Reast\n \n \n Sebastian Lawrence\n \n \n Virginia Bull\n \n \n Sean Henney\n \n \n \n \n +44 (0)20 7597 5970\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n J...