Business
Results of Placing
Results of Placing.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6524V Metro Bank PLC 25 July 2018 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n \nMetro Bank PLC\nResults of Placing\nMetro Bank PLC (\"Metro Bank\" or the \"Company\") announces the successful completion of the non-pre-emptive cash placing of new ordinary shares (the \"Placing\"). A total of 8,851,304 new ordinary shares of 0.0001 pence per share in the capital of the Company (the \"Placing Shares\"), representing approximately 10 per cent. of the Company's issued share capital, have been placed by RBC Capital Markets, Jefferies International Limited and Keefe, Bruyette & Woods (acting through Stifel Nicolaus Europe Limited) (the \"Bookrunners\") at a price of 3422 pence per Placing Share (the \"Placing Price\"), raising total gross proceeds of approximately £303 million for the Company. \nThe Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared, made or paid after the date of issue. The Placing Price was set at the closing market price on 24 July 2018.\nApplications have been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority (the \"FCA\") and to be admitted to trading on the main market for listed securities of London Stock Exchange plc (the \"London Stock Exchange\") (together, \"Admission\"). Settlement for the Placing Shares and Admission is expected to take place on or before 8.00 a.m. on 27 July 2018. The Placing is conditional, among other things, upon Admission becoming effective and the placing agreement between the Company and the Bookrunners (the \"Placing Agreement\") not being terminated in accordance with its terms.\nMetro Bank currently holds no shares as treasury shares, and, therefore, following Admission, the total number of voting shares in Metro Bank in issue will be 97,390,662.\nOn a pro forma basis, were the proceeds of the Placing to have been raised at 30 June 2018, the Company's CET1 ratio would have b...