Business
Result of Placing
Result of Placing.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 3809Z Metro Bank PLC 17 May 2019 \n\n17 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.\n \nMetro Bank PLC\nResult of Placing\nFollowing strong demand from both existing and new shareholders, Metro Bank PLC (\"Metro Bank\" or the \"Company\") is pleased to announce that it has successfully raised gross proceeds of approximately £375 million through its placing launched yesterday, 16 May 2019 (the \"Placing\"), upsizing from an initial target of £350 million. The Placing Price of 500 pence per Placing Share represents a 5.2% discount to the preceding five day average closing price as at 16 May 2019(1).\nVernon Hill, Chairman and Founder at Metro Bank said:\n\"I am really pleased with the support we have received from both existing and new shareholders, and for their confidence and belief in Metro Bank's strategy. The Placing was significantly oversubscribed and as a consequence we raised a total of £375 million. Although we've faced challenges in the past few months, we remain fully focused on providing the outstanding service and convenience that our customers expect of us. This growth capital will enable us to continue to expand the business and implement our strategic initiatives.\"\nA total of 75,000,000 new ordinary shares of 0.0001 pence each in Metro Bank (the \"Placing Shares\") have been underwritten and conditionally placed by RBC Capital Markets, Jefferies International Limited and Keefe, Bruyette & Woods with existing and new investors at a price of 500 pence per Placing Share (the \"Placing Price\").\nApplication will be made to the FCA for admission of the Placing Shares to the Premium listing segment of the Official List of the FCA and to London Stock Exchange plc fo...