Business
Proposed Placing of Ordinary Shares
Proposed Placing of Ordinary Shares.
About this update from Rs Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1980I\n Electrocomponents PLC\n 10 December 2020\n \n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION IN THEM, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n Electrocomponents plc\n \n \n \n \n \n 10 December 2020\n \n \n \n \n \n \n \n \n PROPOSED PLACING OF ORDINARY SHARES TO RAISE GROSS PROCEEDS OF £180 MILLION\n \n \n \n \n \n Electrocomponents plc (Electrocomponents or the Company) today announces its intention to conduct a placing of new ordinary shares (the Placing Shares) of 10 pence each in the Company (the Placing). \n \n \n \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 (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. The Retail Offer is conditional on the Placing, but the Placing is not conditional on the Retail Offer.\n \n \n \n \n \n It is intended that the Placing and Retail Offer (together, the Fundraise) will result in the Company raising gross proceeds of £180 million. The total number of Placing Shares and Retail Shares are expected to represent approximately 5% of the Company's existing issued share capital.\n \n \n The Placing is being conducted through an accelerated bookbuild which will be launched immediately following release of this announcement. \n UBS AG London Branch (UBS) and Numis Securities Limited (Numis and together with UBS the Joint Bookrunners and each a Joint Bookrunner) are acting as Joint Bookrunners in respect of the Placing. \n \n \n \n \n \n Reasons for the Fundraise\n \n \n The Company has reached an agreement to acquire \n Synovos (the Synovos acquisition), a leadi...