Business
Results of the placing
Results of the placing.
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n \n \n RNS Number : 4047L\n Wetherspoon (JD) PLC\n 30 April 2020\n \n \n \n \n THIS ANNOUNCEMENT 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 PLEASE SEE THE IMPORTANT NOTICE AT THE OF THIS ANNOUNCEMENT.\n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n LEI: 213800CHWARFAAN7UB85\n \n \n For immediate release\n \n \n 30 April 2020\n \n \n J D Wetherspoon PLC\n \n \n (\"J D Wetherspoon\" or the \"company\") \n \n \n \n \n \n Results of the placing\n \n \n J D Wetherspoon (LSE: JDW) is pleased to announce the successful completion of the placing of new ordinary shares in the capital of the company announced yesterday (the \"placing\").\n \n \n A total of 15,668,430 new ordinary shares in the capital of the company (the \"placing shares\"), have been placed by Investec Bank plc (\"Investec\") at a price of 900p per share (the \"placing price\"). Concurrently with the placing, \n certain directors, including John Hutson, CEO, Ben Whitley, Finance Director, and Tim Martin, founder and chairman, and members of the senior management team of the company have subscribed for an aggregate of \n 33,330 \n new ordinary shares in the company (the \"subscription shares\") at the placing price, pursuant to the subscription letters entered into with the company (the \"subscription\"). Further details of the subscription are set out below. \n \n \n Together, the placing and subscription of 15,701,760 new ordinary shares has raised gross proceeds of approximately £141m. The placing price of 900p represents a discount of 6.0 per cent. to the mid-market closing price of 957.5p on 29 April 2020 (being the latest practicable date prior the date of this announcement). The placing shares and subscription shares together represent 15 per cent. of the existing issued share capital of the company. The placing was implemented on a non-pre-emptive basis. \n \n \n Applications have been made to the Financial Conduct Authority (\"FCA\") and...