Business
Proposed Placing to raise c. £350 million
Proposed Placing to raise c. £350 million.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 3261Z Metro Bank PLC 16 May 2019 \n\n16 May 2019\nLegal Entity Identifier: 213800X5WU57YL9GPK89\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, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION TO BE CONTAINED IN THE PROSPECTUS.\nPLEASE SEE THE IMPORTANT NOTICE CONTAINED WITHIN THIS ANNOUNCEMENT.\nMetro Bank PLC\nProposed Placing to raise c. £350 million\nMetro Bank PLC (\"Metro Bank\" or the \"Company\") today announces its intention to conduct a non-pre-emptive cash placing (the \"Placing\") of c. £350 million through the issue of new ordinary shares in the Company (the \"Placing Shares\"), at a price of 500 pence per Placing Share.\nThe Placing will be conducted through an accelerated book-build process which will be launched immediately following this announcement, in accordance with the terms and conditions set out in the Appendix to this announcement. RBC Capital Markets and Jefferies International Limited are acting as Joint Global Coordinators and Keefe, Bruyette & Woods (acting through Stifel Nicolaus Europe Limited) is acting as joint bookrunner in connection with the Placing (together, the \"Bookrunners\").\nThe Placing is conditional, inter alia, on the Company's shareholders' (the \"Shareholders\") approval to grant the Directors authority to allot and issue the Placing Shares as if the applicable statutory pre-emption rights did not apply (the \"Transaction Resolutions\"). Approval will be sought for the Transaction Resolutions at a general meeting to be convened at One Southampton Row, London WC1B 5HA on 3 June 2019 at 3 p.m. (the \"General Meeting\"), notice of which will be set out in a combined circular and prospectus (the \"Prospectus\") which is expected to be published on 17 May 2019. The Prospectus will, following publication, be sent and made available on the Company's website to Shareholders.\n \nExpected timetable of principal events\n· L...