Business
Result of Placing
Result of Placing.
About this update from Frenkel Topping Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 8180T\n Frenkel Topping Group PLC\n 23 July 2020\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF FRENKEL TOPPING GROUP PLC IN ANY JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\n \n \n UNLESS OTHERWISE INDICATED, CAPITALISED TERMS IN THIS ANNOUNCEMENT HAVE THE MEANINGS GIVEN TO THEM IN THE DEFINITIONS SECTION INCLUDED IN APPENDIX II TO THE COMPANY'S ANNOUNCEMENT OF 4:49 PM ON 22 JULY 2020. \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n 23 July 2020\n \n \n Frenkel Topping Group plc\n \n \n (\"Frenkel Topping\", the \"Company\" or the \"Group\")\n \n \n Result of Placing\n \n \n Frenkel Topping Group plc (AIM: FEN), a specialist independent financial adviser and wealth manager focused on asset protection for clients, is pleased to announce that, further to the announcement made at 4.49 p.m. on 22 July 2020 (the \"Placing Announcement\"), it has successfully completed the oversubscribed Placing which is now closed.\n \n \n The Placing has raised £13 million (before expenses) through the placing of 32,500,000 new Ordinary Shares at an Issue Price of 40 pence per share. \n \n \n The net proceeds of the Placing will be used to:\n \n \n \n · \n accelerate the Company's vision of becoming the market leader in providing a full service offering to clients and claimants, particularly in PI and Clin Neg; and\n \n \n \n \n \n \n \n · \n consolidate the heavily fragmented pre-settlement professional se...