Business
Results of placing of new ordinary shares
Results of placing of new ordinary shares.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 1594K Secure Trust Bank PLC 20 June 2014 \n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\nThis announcement should be read in its entirety. In particular, you should read and understand the information provided in the 'Important Notices' section. \n \n \n20 June 2014\n \nSecure Trust Bank PLC (the \"Company\")\n \nResults of Placing of 2,083,333 new Ordinary Shares and 1,041,667 Sale Shares of 40p each at £24.00 per share\n \n \nFollowing the announcements released yesterday, the Company is pleased to announce the completion of the conditional Placing of new Ordinary Shares and existing Sale Shares. \n \nThe Company today announces that 2,083,333 new Ordinary Shares have been placed with institutional investors at a price of £24.00 per share (the \"Placing Price\") raising gross proceeds for the Company of £50m. In addition 1,041,667 Sale Shares have been sold to institutional investors at the Placing Price on behalf of Arbuthnot Banking Group PLC raising gross proceeds of £25m for Arbuthnot. The Placing Price represents a discount of 3.81 per cent. to the closing price on 19 June 2014. The new Ordinary Shares issued represent approximately 11.7 per cent. of the Enlarged Issued Share Capital of the Company.\nThe Placing is conditional on, among other things, the passing of the Resolutions at the Secure Trust Bank General Meeting to be held at 11.00 a.m. on 8 July 2014. \nApplication will be made for the new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange plc (\"Admission\"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on 9 July 2014. \nThe new Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on the existing Ordinary Shares. \nThe Company will today be posting a circular to shareholders convening the Secure Trust Ban...