Business
Results of placing
Results of placing.
About this update from Mears Group Plc
[{"type":"text","content":"\n \nRNS Number : 7943H Mears Group PLC 19 November 2018 \n\n19 November 2018\n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \nMears Group PLC\n(\"Mears\" or \"the Group\" or \"the Company\")\n \nResults of Placing\n \nMears, a leading service partner to the UK social housing and care sectors is pleased to confirm that pursuant to the announcement earlier today, 6,787,331 new ordinary shares of 1 penny each in the capital of the Company (the \"Placing Shares\") have been placed by Peel Hunt at a price of 331.5 pence per Placing Share with existing and new institutional investors, raising gross proceeds of approximately £22.5 million.\n \nApplications have been made to the Financial Conduct Authority (the \"FCA\") for admission of the Placing Shares to the premium listing segment of the Official List of the UK Listing Authority (the \"Official List\") and to the London Stock Exchange for admission to trading of the Placing Shares on its main market for listed securities (together, \"Admission\"). It is expected that Admission will take place at 8.00 a.m. on 21 November 2018 and that dealings in the Placing Shares on the London Stock Exchange's main market for listed securities will commence at that time.\n \nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 1 penny each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after Admission. The Placing Shares represent approximately 6.5 per cent. of the Company's existing issued share capital. The Placing Price of 331.5 pence per share represents a discount of 9.9 per cent to the middle market price at the time that the Company and Peel Hunt agreed the Placing Price.\n \nFollowing Admission, the total number of ordinary shares in issue will be 110,422,211 with each share carrying the right to one vote. Mears currently holds no share...