Business
Results of the Capital Raising and General Meeting
Results of the Capital Raising and General Meeting.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 2425X Norcros PLC 22 November 2017 \n\n22 November 2017\nNorcros plc\nResults of Firm Placing and Placing and Open Offer \nand \nGeneral Meeting\nOn 2 November 2017, Norcros plc (\"Norcros\") announced the details of a proposed Firm Placing and Placing and Open Offer to raise £31.4 million through the issue of 18,254,161 New Ordinary Shares at a price of 172 pence per share, with 6,165,312 New Ordinary Shares to be issued through the Firm Placing and 12,088,849 New Ordinary Shares to be issued through the Placing and Open Offer.\n \nThe Open Offer closed for acceptances at 11.00am on 21 November 2017. Norcros is pleased to announce that it has received valid acceptances under the Open Offer in respect of 6,734,737 Open Offer shares from Qualifying Shareholders. This represents approximately 55.7 per cent. of the Open Offer Shares. Of the valid acceptances received, 6,446,855 New Ordinary Shares were satisfied pursuant to the Open Offer (representing all of the valid acceptances received in relation to Open Offer Entitlements) and 287,882 New Ordinary Shares were satisfied pursuant to the Excess Application Facility.\n \nAccordingly, the remaining 5,354,112 Open Offer Shares, representing approximately 44.3% of the Open Offer Shares to be issued through the Placing and Open Offer, will be allocated to the investors with whom they had been conditionally placed under the Placing.\nNorcros is also pleased to announce that all Resolutions set out in the Notice of General Meeting regarding the proposed acquisition of Merlyn Industries Limited and the associated Capital Raising were passed. Each Resolution was passed on a poll and received the support of at least 99.95% of the votes cast.\n \nFull details of the Resolutions were set out in the prospectus issued by Norcros on 2 November 2017, which is available on Norcros' website at www.norcros.com (\"Prospectus\"). All words and expressions which are detailed in the Prospectus shall, when used in this announcement, bear the meanings respectively ascribed to them in the Prospectus.\n \nIn accordance with Listing Rule 9.6.2, copies of all the Resolutions passed will be submitted to the National Storage Mechanism and will be available for inspection at http://www.morningstar.co.uk/uk/nsm\n \nApplications have been made to the FCA and Londo...