Business
Results of Placing and Notice of General Meeting
Results of Placing and Notice of General Meeting.
About this update from Portmeirion Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 5664P\n Portmeirion Group PLC\n 10 June 2020\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF PORTMEIRION GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\n \n \n \n \n \n 10 June 2020\n \n \n \n \n \n Portmeirion Group PLC\n \n \n (\"Portmeirion\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n Results of Placing \n \n \n PDMR Shareholdings\n \n \n and\n \n \n Notice of General Meeting\n \n \n \n \n \n Portmeirion Group PLC, the designer, manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and Nambé brands, is pleased to announce that following the announcement earlier today, (the \"Placing Launch Announcement\"), it has received strong demand from new institutional investors and it has successfully placed 2,631,578 Placing Shares at an Issue Price of 380 pence per share raising gross proceeds of £10.0 million under the Placing. The Placing was significantly oversubscribed.\n \n \n Taking into account the Placing and the Subscription also announced earlier today to raise £0.66 million through the issue of 172,731 Subscription Shares at the Issue Price, the Company has conditionally raised, in aggregate, approximately £10.66 million (before expenses). The Issue Price represents a discount of approximately 1.3% per cent. to the Closing Price on 9 June 2020, being the last practicable date prior to the publication of the Placing Launch Announcement. \n \n \n As described in the Placing Launch Announcement, the net proceeds of the Placing and the Subscription of approximately £10.1 million together with the proceeds from the Open Offer will be used to accelerate the Group's growth strategy and margin improvement, in particular to:\n \n \n · \n accelerate all online channel sales growth and i...