Business
Result of the Fundraising and Notice of EGM
Result of the Fundraising and Notice of EGM.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \nRNS Number : 4657Y Duke Royalty Limited 05 December 2017 \n\n \nDuke Royalty Limited\n(\"Duke Royalty\" or the \"Company\")\n \nResult of the Fundraising and Notice of EGM\n \nFurther to the announcement released by the Company dated 4 December 2017 (the \"Fundraising Announcement\"), the Company is pleased to announce that it has successfully raised £20.0 million before expenses and will, subject to Shareholder approval as noted below, apply for its shares to be admitted to AIM with admission expected to take place at 8.00 a.m. on or around 22 December 2017. \nDEFINITIONS\n \nOther than where defined, capitalised terms used in this announcement have the meanings given to them in the Fundraising Announcement.\n \nResult of Fundraising\nPursuant to the Fundraising Announcement, the Company is pleased to announce that a total of 50,000,000 New Shares have been successfully placed or subscribed for in the Company at a price of 40 pence per New Share, with new and existing institutional investors, as well as certain Directors. Pursuant to the Fundraising, the Company has raised gross proceeds of £20.0 million (net proceeds of approximately £18.8 million after expenses).\nCenkos Securities plc and Mirabaud Securities Limited acted as joint bookrunners in connection with the Placing. Grant Thornton acted as nominated adviser to the Company. \nNotice of Extraordinary General Meeting (\"EGM\")\nThe Fundraising is conditional on Shareholders passing a resolution authorising the Directors to allot the New Shares as if the rights of pre-emption in Article 4.2 of the Articles of the Company did not apply to any such issue. An extraordinary resolution is passed where no less than 75 per cent. of those present and entitled to vote, or voting by proxy, in a general meeting vote in favour for it to be passed.\nThe EGM of the Company is to be held at 10:00 a.m. on 21 December 2017 at the offices of Trident Trust 4th Floor, West Wing, Trafalgar Court, Admiral Park, St Peter Port, Guernsey, GY1 2JA.\nA copy of the circular and Notice of EGM will be posted to Shareholders today and will shortly be available on the Company's website at www.dukeroyalty.com.\nRecommendation\nThe Directors recommend that Shareholders should vote in favour of the Resolution, as they intend to do in respect of their combine...