Business
Results of Placing
Results of Placing.
About this update from Marston's Plc
[{"type":"text","content":"\n \nRNS Number : 5626F Marston's PLC 18 May 2017 \n\n \n 18 May 2017\nThis announcement and the information contained herein is restricted and not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Japan, South Africa or any other jurisdiction in which such release, publication or distribution would be unlawful.\nThis announcement contains inside information.\nMARSTON'S PLC (\"Marston's\" or the \"Company\")\nResults of Placing\nMarston's is pleased to announce the successful completion of the placing announced today (the \"Placing\").\nA total of 57,600,995 new ordinary shares of 7.375 pence each (the \"Placing Shares\") have been placed by J.P. Morgan Securities PLC, which conducts its UK investment banking activities as J.P. Morgan Cazenove (\"J.P. Morgan Cazenove\") and Numis Securities Limited (\"Numis\") at a price of 137.0 pence per Placing Share (the \"Placing Price\"), raising proceeds of approximately £78.9 million (before expenses). The Placing Shares being issued represent approximately 9.9% of the issued ordinary share capital of the Company (excluding treasury shares) prior to the Placing.\nThe Placing Price represents a discount of 4.9 per cent. to the closing price on 17 May 2017 and a discount of 3.1 per cent. to the intra-day price at 9.31 a.m. (being the time the Placing Price was agreed). The net placing price of approximately 131.7 pence per Placing Share to be received by the Company after expenses directly attributable to the Placing represents a discount of approximately 6.8 per cent. to that intra-day price.\nApplications have been made for admission of the Placing Shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange (together \"Admission\"). It is expected that Admission will take place at 8.00 a.m. on 22 May 2017 at which time dealings in the Placing Shares will commence.\nThe Placing Shares, when issued, will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 7.375 pence each in the share capital of the Company, including the right to receive all dividends (including the interim dividend of 2.7p per share announced today) and other distributions d...