Business
Acquisition of TPN and Placing of shares
Acquisition of TPN and Placing of shares.
About this update from Logistics Development Group Plc
[{"type":"text","content":"\n \nRNS Number : 9019S Eddie Stobart Logistics PLC 28 June 2018 \n\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\"). Market Soundings, as defined in MAR, were taken in respect of the proposed Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information in relation to the Placing is set out in this Announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a Market Sounding are no longer in possession of inside information relating to the Company and its securities.\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND 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 IN EDDIE STOBART LOGISTICS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.\n \n \nEddie Stobart Logistics plc\n(\"Eddie Stobart\" or the \"Company\")\nAcquisition of The Pallet Network Group Limited\nand\nPlacing of shares to raise £30 million\n \nFurther to the announcement made on 7 June 2018, Eddie Stobart, a leading UK supply chain, transport and logistics group, is pleased to announce that it has entered into an agreement to acquire the entire issued share capital of The Pallet Network Group Limited (\"TPN\"), a leading provider of pallet distribution services across UK and Ireland, for total consideration of £52.8 million, on a cash and debt free basis (the \"Acquisition\"). Completion of the Acquisition is expected to occur on or around 29 June 2018 following admission of the Placing Shares.\n \nEddie Stobart also announces a placing with institutional investors to raise £30 million before expenses (the \"Placing\") through the issue of 21,428,572 Placing shares of 1 pence each in the capital of the Company (\"Placing Shares\") for 140 pence (\"Placing Price\") per Placing Share. The Pl...