Business
Update on partial waiver of lock-up arrangements
Update on partial waiver of lock-up arrangements.
About this update from Thg Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6285L\n THG PLC\n 14 January 2021\n \n \n \n \n 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 For immediate release.\n \n \n \n \n \n 14 January 2021\n \n \n \n \n \n THG plc\n \n \n \n \n \n UPDATE ON PARTIAL WAIVER OF CERTAIN LOCK-UP ARRANGEMENTS\n \n \n \n \n \n Further to its announcement of 13 January 2021, THG plc (\"THG\" or the \"Company\") confirms that it has been informed by Balderton Capital IV, L.P. (\"Balderton Capital\") that the size of the accelerated bookbuild secondary placing (the \"Placing\") of ordinary voting shares in the Company (the \"Ordinary Shares\") was increased following strong investor appetite. Balderton Capital has informed the Company that it sold 27,423,822 Ordinary Shares in the Placing. West Coast Capital Assets Limited (\"West Coast Capital\") also sold 4,155,125 Ordinary Shares and certain other individual shareholders (the \"Other Selling Shareholders\") sold in aggregate 1,315,790 Ordinary Shares. Together, Balderton Capital, West Coast Capital and the Other Selling Shareholders (together, the \"Sellers\") sold in aggregate 32,894,737 Ordinary Shares in the Placing at a price of 760p per Ordinary Share. THG will not receive any proceeds from the Placing. \n \n \n \n \n Each of the Sellers is subject to lock-up arrangements which were agreed at the time of THG's initial public offering (\"IPO\") and described in THG's IPO prospectus. \n The Company and, in the case of certain of the Sellers, the Company and Barclays Bank PLC, Citigroup Global Markets Limited, Goldman Sachs International and J.P. Morgan Securities, which conducts its UK investment banking activities as J.P. Morgan Cazenove, agreed to waive the Sellers' lock-up arrangements with respect to the Ordinary Shares sold by the Sellers in the Placing. The Sellers' lock-up arrangements as described in THG's IPO prospectus will otherwise remain in place in accordance with their respective terms. The lock up of Balderton Capital's and West Coast Capital's respective residual holdings will therefore remain 360 days from 21 September 2020, subject to specific exceptions outlined in THG's IPO prospectus. The lock up o...