Business
Proposed Secondary Placing in PensionBee
Proposed Secondary Placing in PensionBee.
About this update from Pensionbee Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT 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 OF PENSIONBEE GROUP PLC IN ANY JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT INFORMATION AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INFORMATION WILL NO LONGER CONSTITUTE INSIDE INFORMATION.\n20 June 2024\nPROPOSED PLACING OF 5.6 MILLION SHARES IN PENSIONBEE GROUP PLC (THE \"COMPANY\" OR \"PENSIONBEE\")\nCertain Directors and members of the management team of PensionBee, being Romi Savova, Jonathan Lister Parsons and Mark Wood CBE (together the \"Selling Block\") announce that, following reverse inquiry and in order to increase liquidity in the Company's shares and to broaden the Company's shareholder register, they intend to sell in aggregate 5.6 million ordinary shares in PensionBee (the \"Placing Shares\"), representing approximately 2.5 per cent. of the Company's current issued ordinary share capital.\nThroughout the Company's investor relations engagements over the past 6 months, there has been consistent feedback that increasing liquidity, free float and institutional share ownership is important to both current and potential investors.\nThe placement aims to increase the Company's institutional ownership to approximately 35% and the free float to approximately 50% of the issued share capital.\nThe Placing Shares are being offered by way of an accelerated bookbuild (the \"Placing\") to institutional investo...