Business
Proposed issue of Ordinary Shares
Proposed issue of Ordinary Shares.
About this update from Rank Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4331E\n Rank Group PLC\n 05 November 2020\n \n \n \n \n THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.\n \n \n For immediate release\n \n \n \n \n \n 5 November 2020\n \n \n \n \n \n The Rank Group Plc\n \n \n \n \n \n Proposed issue of Ordinary Shares to raise approximately £70 million\n \n \n \n \n \n The Rank Group Plc (\"Rank\", the \"Company\" or the \"Group\"), today announces its intention to conduct a placing of new ordinary shares of 138/9pence each in the capital of the Company (\"Ordinary Shares\") (the \"Placing Shares\") (the \"Placing\"). All of the directors of the Company and certain members of the executive management team intend to participate in the Placing, acquiring approximately 470,000 Ordinary Shares in aggregate.\n \n \n In addition to the Placing, there will be an offer made by the Company on the PrimaryBid platform of new Ordinary Shares (the \"Retail Shares\") at the Placing Price (as defined below) (the \"Retail Offer\"), to provide retail investors with an opportunity to participate in the equity fundraise. A separate announcement will be made regarding the Retail Offer and its terms.\n \n \n It is intended that the Placing and Retail Offer (together, the \"Fundraise\") will result in the Company raising total gross proceeds of approximately £70 million. The total number of Placing Shares and Retail Shares are expected to represent approximately 19.9% of the Company's existing issued share capital.\n \n \n The Placing is being conducted through an accelerated bookbuild process (the \"Bookbuild\") which will be launched immediately following this announcement. The Placing...