Business
Proposed Placing of New Ordinary Shares
Proposed Placing of New Ordinary Shares.
About this update from International Workplace Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 1244O\n IWG PLC\n 27 May 2020\n \n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED IN THEM, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n \n LEI: \n \n \n 2138003LWDII27UTAG52\n \n \n \n For immediate release\n \n \n \n 27\n \n \n May 2020\n \n \n \n IWG plc\n \n \n (\"IWG\" or the \"Company\")\n \n \n Proposed Placing of New Ordinary Shares\n \n \n \n \n \n IWG (LSE: \n IWG\n ), \n the leading global operator of workspace brands\n ,\n today announces its intention to conduct an equity raise to take advantage of growth opportunities and strengthen the Group's global leadership position through a non-pre-emptive placing of new ordinary shares of \n 1 pence each (the\n \"Placing Shares\") in the capital of the Company (the \"Placing\").\n \n \n The Company intends to raise gross proceeds of \n approximately \n £315m \n through the Placing and the Retail Offer (as defined below).\n \n \n Mark Dixon, the CEO of the Company, intends to acquire Placing Shares in the Placing at the Placing Price (as defined below), in an amount pro-rata to his current holding of 28.5 per cent. of the Company's issued share capital, excluding treasury shares.\n \n \n In addition to the Placing, there will be an offer made by the Company on the PrimaryBid platform of new ordinary shares of 1 pence each in the capital of the Company (the \"Retail Offer Shares\") at the Placing Price (as defined below) (the \"Retail Offer\"), to provide retail investors with an opportunity to participate. A separate announcement will be made shortly regarding the Retail Offer and its terms. \n \n \n The Placing will be conducted through an accelerated bookbuilding process (the \"Bookbuild\"), which will be launched immediately following this announcement \n and is subject to the terms and conditions set out in the Appendix 1 to this announcement (such ann...