Business
Result of Accelerated Book Build
Result of Accelerated Book Build.
About this update from Midwich Group Plc
[{"type":"text","content":"\n \nRNS Number : 3508C Midwich Group PLC 07 February 2020 \n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014).\n \nFor immediate release\n 7 February 2020\n \nMidwich Group plc\n(\"Midwich\" or the \"Group\")\n Result of Accelerated Book Build\nMidwich (AIM: MIDW), a specialist audio visual distributor to the trade market, is pleased to announce the successful completion of the placing announced earlier today raising gross proceeds of approximately £39.7m.\nCapitalised terms used in this announcement have the meanings given to them in the Placing Announcement, unless the context provides otherwise.\nA total of 7,944,800 Placing Shares, representing approximately 9.9 per cent. of the existing issued share capital of the Company, have been placed by Investec and Berenberg at a price of 500 pence per share. The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing issued Ordinary Shares.\nApplication has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will take place at 8.00 a.m. on 11 February 2020 (or such date as may be agreed between the Company and the Joint Bookrunners).\nThe Placing is conditional upon, amongst other things, Admission becoming effective. The Placing is also conditional on the Placing Agreement not being terminated in accordance with its terms.\nTotal voting rights\nFollowing Admission, the Company will have 87,918,212 Ordinary Shares in issue. There are no Ordinary Shares held in treasury. Therefore, the Company hereby confirms that the total number of voting rights in the Company will, following Admission, be 87,918,212. This figure may be used by shareholders as the denominator for the calculat...