Business
Results of Placing
Results of Placing.
About this update from Norcros Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN 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, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN NORCROS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF NORCROS PLC.\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF EU REGULATION 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\").\n \n \n \n \n PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n \n \n \n \n \n \n 12 May 2022\n \n \n \n \n \n \n \n Norcros plc (\"Norcros\" or the \"Company\")\n \n \n \n \n \n \n \n Results of Placing\n \n \n \n \n \n \n \n \n Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products, is pleased to announce the successful completion of the placing announced on 11 May 2022 (the \"Placing\") (the \"Placing Announcement\").\n \n \n \n \n \n A total of 8,088,700 new ordinary shares of 10 pence each in the capital of the Company (\"Ordinary Shares\") (the \"Placing Shares\") have been placed by Numis Securities Limited (\"Numis\") at a price of 230 pence per Placing Share (the \"Placing Price\"), raising gross proceeds of approximately £18.6 million (before expenses). The proceeds from the Placing will be used to part-fund the acquisition of Granfit Holdings Limited (\"Grant Westfield\"), as announced by the Company yesterday (the \"Acquisition\"), and associated costs. Details of the Acquisition were contained in a separate announcement released by the Company yesterday (the \"Acquisition Announcement\"), which should be read in conjunction with this announcement and the Plac...