Business
Fundraising to raise £44m and EGM announcement
Fundraising to raise £44m and EGM announcement.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \nRNS Number : 7000U Duke Royalty Limited 16 July 2018 \n\n16 July 2018 \nDuke Royalty Limited\n(\"Duke Royalty\", \"Duke\" or the \"Company\")\n\nFundraising to raise £44 million and announcement of EGM\n \nThe Company would like to draw investors' attention to the announcement that it made after market close on Friday 13th July 2018 regarding a placing to raise £44 million through the issue of new shares at a price of 44 pence per share. The full text of the announcement is set out below for ease of reference. \n \n13 July 2018\n \nDuke Royalty Limited\n(\"Duke Royalty\", \"Duke\" or the \"Company\")\n\nFundraising to raise £44 million and announcement of EGM\n \nDuke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-standing businesses in Europe and abroad, is pleased to announce a conditional placing and subscription (\"Fundraising\") to raise £44 million, before expenses by way of the issue of 100,000,000 ordinary shares of no par value (\"New Shares\") at a price of 44 pence per share (the \"Issue Price\"). The net proceeds of the Fundraising of approximately £42 million will allow the Company to continue to finance its diversified pipeline of royalty financing opportunities. \nHighlights \n· Fundraising to raise gross proceeds of £44 million\n· Net proceeds to diversify portfolio of royalty investments and provide working capital \n· Four new potential royalty partners under signed letters of intent, with aggregate demand of £27.5 million of capital \n· Additional proceeds to execute new identified opportunities and/or make follow on investments in existing royalty partners\n· Following full deployment of capital, Duke could have exposure to up to 9 Royalty Partners and 13 underlying diverse businesses\n· Increased dividend yield expected following deployment of capital over a period of less than 12 months\n· Issue price of 44 pence per share \n \nNeil Johnson, Duke's CEO commented, \"We are delighted to have closed such a sizable Financing today with the strong support from new and existing institutions. ...