Business
Results of Placing
Results of Placing.
About this update from Serco Group Plc
[{"type":"text","content":"\n \nRNS Number : 0537A Serco Group PLC 23 May 2019 \n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n23 May 2019\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\"). Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.\n \nSerco Group plc\nResults of Placing\nSerco Group plc (the \"Company\" or \"Serco\") announces the successful completion of the placing of ordinary shares announced earlier today (the \"Placing\").\nThe Placing raised gross proceeds of approximately £140 million for the Company. A total of 111,216,400 new ordinary shares in the Company (the \"Placing Shares\") have been placed by Merrill Lynch International (\"BofA Merrill Lynch\") and Barclays Bank PLC (\"Barclays\", together with BofA Merrill Lynch, the \"Joint Bookrunners\") at a price of 126.0 pence per Placing Share (the \"Placing Price\"). The Placing Price represents a premium of 4.0 per cent to the closing share price of 121.1 pence on 22 May 2019 and a discount of 7.0 per cent, post expenses directly attributable to the Placing, to the middle market price at the time at which the Company and the Joint Bookrunners agreed the Placing Price. The Placing Shares being issued represent approximately 10 per cent of the issued ordinary share capital of Serco.\nThe Placing Shares will, when issued, be credited as fully paid and rank pari passu in all respects with the existing ordinary shares of two pence in the capital of the Company.\nApplications have been made for the admission of the Placing Shares to the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc (\"Admission\"). It is expected that Admission will become effective at 8.00 a.m. on 28 May 2019. The Placing is conditional upon, amongst other things, Admission becoming effective and upon the placing agree...