Business
Results of Rights Issue
Results of Rights Issue.
About this update from Great Portland Estates Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT IS NOT A PROSPECTUS BUT AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS EQUIVALENT DOCUMENT. IT IS NOT AN OFFER OF SECURITIES FOR SALE TO U.S. PERSONS OR IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. INVESTORS SHOULD NOT SUBSCRIBE FOR THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF THE INFORMATION CONTAINED IN THE PROSPECTUS\n(AS DEFINED BELOW).\n \nPLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \n12 June 2024\nGreat Portland Estates plc (the \"Company\" or \"GPE\")\n \nResults of Rights Issue\n \nThe Company today announces that the fully underwritten 3 for 5 Rights Issue of 152,320,747 New Ordinary Shares at 230 pence per New Ordinary Share announced on 23 May 2024 closed for acceptances at 11.00 am (London time) on 11 June 2024. The Company received acceptances in respect of 147,485,079 New Ordinary Shares, representing approximately 96.82 per cent. of the total number of New Ordinary Shares offered pursuant to the Rights Issue.\nIn accordance with their obligations under the Underwriting Agreement, BofA Securities, Deutsche Numis and J.P. Morgan Cazenove as Joint Global Coordinators and Joint Bookrunners, and Santander as Co-lead Manager (together with the Joint Global Coordinators and Joint Bookrunners, the \"Underwriters\") will use reasonable endeavours to procure subscribers for the remaining 4,835,668 New Ordinary Shares not taken up in the Rights Issue, failing which the Underwriters have agreed to subscribe, on a several basis, for such remaining New Ordinary Shares.\nIn addition, following market close on 11 June 2024, the Company received notification from certain funds under management that up to approximately 6,244,407 New Ordinary Shares in respect of which acceptances were originally made may not be capable of being validly taken up by them due to jurisdictional restrictions.\nThe fi...