Business
Results of Open Offer
Results of Open Offer.
About this update from Saga Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8851A\n SAGA PLC\n 02 October 2020\n \n \n \n \n NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \n \n THIS ANNOUNCEMENT IS NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT BUT AN ADVERTISEMENT. INVESTORS SHOULD NOT SUBSCRIBE FOR, OR OTHERWISE PURCHASE, ACQUIRE, SELL OR DISPOSE OF, ANY OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF THE INFORMATION CONTAINED IN AND INCORPORATED BY REFERENCE INTO THE PROSPECTUS PUBLISHED BY THE COMPANY.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n FOR IMMEDIATE RELEASE\n \n \n 2 October 2020\n \n \n Saga plc\n \n \n Results of Open Offer\n \n \n \n \n \n Ahead of its General Meeting at 10.30 am today, Saga PLC (the \"Company\" or \"Saga\") issues the following updating on the results of its Open Offer. Saga\n announced on 10 September 2020 the details of a Firm Placing and Placing and Open Offer (the \"Capital Raising\") to raise gross proceeds of approximately £150 million. On 10 September 2020, it announced the results of the Conditional Placing and, subject to the applicable conditions, has raised gross proceeds of approximately £74.8 million. This is in addition to the gross proceeds of approximately £75.5m raised pursuant to the Firm Placing.\n \n \n Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company's announcement of 10 September 2020.\n \n \n The Open Offer closed for acceptances at 11 a.m. on 30 September 2020 in accordance with its terms. The Company announces that it has received valid acceptances under the Open Offer in respect of 271,937,350 Open Offer Shares, representing 43.63 per cent. of the 623,335,182 Open Offer Shares available pursuant to the Open Offer. The remaining shares have been placed with conditional placees, a significant proportion of which comprised existing shareholders. These shares have been placed first with Sir Roger De Haan and then subsequently to other conditional placees in line with the preferential clawback arrangements as set out in the...