Business
Reverse Takeover, Placing & Subscription
Reverse Takeover, Placing & Subscription.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n \nRNS Number : 4516X Barkby Group PLC (The) 19 December 2019 \n\nTHIS 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 OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED.\nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n19 December 2019 \nThe Barkby Group PLC\n(\"Barkby\" or \"the Company\")\nReverse Takeover, Placing, Subscription and Notice of General Meeting\nFurther to the announcement of 11 November 2019, The Barkby Group PLC, the consumer-focused hospitality group, is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of each of Tarncourt Ambit Properties Limited, Tarncourt Ambit Limited and Workshop Trading Holdings Limited (together the \"Dickson Controlled Entities\"), for total aggregate consideration of approximately £30.6 million through the issue of 102,086,167 Consideration Shares at the Issue Price, the sum of £0.75 million (of which £0.375 million is payable within 10 Business days following Admission and £0.375 million on a deferred basis) and the Contingent Deferred Consideration. The Board believes there is strong strategic, commercial and financial rationale for the Acquisitions. \n \nAlongside the Acquisitions, Barkby announces a conditional Placing and Subscription to raise £5.0 million through the issue of 16,666,667 New Ordinary Shares.\n \nThe Acquisition constitutes a reverse takeover under the NEX Exchange Rules, and therefore also requires Shareholder approval at a General Meeting of the Company. The Company intends that, following Shareholder approval of, inter alia, the Transaction at the General Meeting, the Enlarged Group will be delisted from NEX and admitted to trading on AIM.\nAt the same time as the Acquisition, the Pla...