Business
Results of Placing
Results of Placing.
About this update from Jet2 Plc
[{"type":"text","content":"\n \n \n RNS Number : 5591N\n Dart Group PLC\n 21 May 2020\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION, OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING WOULD BE UNLAWFUL.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n \n \n \n \n \n \n 21 May 2020\n \n \n Dart Group PLC\n \n \n (\"Dart\" or the \"Group\" or the \"Company\")\n \n \n \n \n Results of Placing\n \n \n \n \n Dart Group PLC, the Leisure Travel and Distribution & Logistics Group, is pleased to announce the successful completion of the Placing announced yesterday (the \"Placing Announcement\").\n \n A total of 29,781,894 Placing Shares have been placed at a price of 576.5 pence per Placing Share (the \"Placing Price\") to raise gross proceeds of approximately £172 million. Canaccord Genuity acted as Joint Global Co-ordinator, Joint Bookrunner and Joint Broker, and Barclays and HSBC acted as Joint Global Co-ordinators and Joint Bookrunners.\n \n The Placing was significantly oversubscribed.\n \n The Placing Price is equal to the closing mid-market share price of 576.5 pence on 20 May 2020. The Placing Shares being issued represent 20 per cent. of the existing issued ordinary share capital of Dart immediately prior to the Placing.\n \n The Company consulted with a number of its major shareholders prior to the Placing in order to adhere to the principles of pre-emption as far as possible through the allocation process and is pleased by the strong support it has received from existing shareholders and new investors.\n \n \n \n Philip Meeson, Executive Chairman of the Group commented:\n \n \n \"The Group is grateful to both existing shareholders and new investors for their significant support of this equity issue at no discount to the prevailing share price. The Board believes that the proceeds of the Placing, together with the recently confirmed Bank of England £300m COVID Corporate Financing Facility (currently undrawn) and the Group's fully drawn Revolving Credit Facility of £100m, will provide...