Business
Result of Placing
Result of Placing.
About this update from Topps Tiles Plc
[{"type":"text","content":"\n RNS Number : 9864C Topps Tiles PLC 24 November 2009 \n \nNOT FOR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n\n24 November 2009\n\nTopps Tiles plc\n\nRESULTS OF PLACING RAISING APPROXIMATELY £15.4 MILLION\n\nTopps Tiles plc (\"Topps Tiles\" or the \"Company\") is pleased to announce the successful completion of the placing announced earlier today (the \"Placing\"). \n\nA total of 17,109,302 new ordinary shares of 3 1/3 pence each in the capital of the Company (the \"Placing Shares\") have been placed by KBC Peel Hunt Ltd (\"KBC Peel Hunt\") at a placing price of 90 pence per Placing Share, raising gross proceeds of approximately £15.4 million. The Placing Shares being issued represent approximately 10 per cent. of Topps Tiles' issued ordinary share capital prior to the Placing and approximately 9.1 per cent. of the enlarged issued ordinary share capital of the Company after completion of the Placing.\nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 3 1/3 pence each in the capital of the Company (\"Ordinary Shares\"), including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue. Following completion of the Placing, the new issued share capital of the Company will be 188,202,323 ordinary shares of 3 1/3 pence each.\nAs part of the Placing, certain Directors and persons discharging managerial responsibilities (\"PDMRs\") of the Company have agreed to subscribe for Placing Shares. The number of Placing Shares subscribed by each Director and PDMR and their resultant interest in the enlarged Ordinary Share capital of the Company is set out below:\n\n\n\n\nDirector / PDMR\n\n\nExisting holding of Ordinary Shares\n\n\n\nNumber of Placing Shares subscribed for\n\n\n\nTotal number of Ordinary Shares following the Placing\n\n\n\n% enlarged issued Ordinary Share capital\n\n\n\n\n\nBa...