Business
Announcement re: Rights Issue
Announcement re: Rights Issue.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8954K\n TP ICAP PLC\n 07 January 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OF THE ABU DHABI GLOBAL MARKET, AUSTRALIA, THE DUBAI INTERNATIONAL FINANCIAL CENTRE, JAPAN, SINGAPORE, SOUTH AFRICA, SWITZERLAND, THE UNITED ARAB EMIRATES OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING IN IT SHALL CONSTITUTE AN OFFERING OF ANY SECURITIES. ANY DECISION TO PURCHASE, SUBSCRIBE FOR, OTHERWISE ACQUIRE, SELL OR OTHERWISE DISPOSE OF ANY PROVISIONAL ALLOTMENT LETTER, NIL PAID RIGHTS, FULLY PAID RIGHTS, AND/OR NEW ORDINARY SHARES MUST BE MADE ONLY ON THE BASIS OF THE INFORMATION CONTAINED IN AND INCORPORATED BY REFERENCE INTO THE PROSPECTUS ONCE PUBLISHED.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n \n \n 7 \n January 2021\n \n \n \n \n \n TP ICAP PLC\n \n \n 2 FOR 5 FULLY UNDERWRITTEN RIGHTS ISSUE RAISING US$427 MILLION TO PART FUND THE ACQUISITION OF LIQUIDNET\n \n \n \n \n \n On 9 October 2020, TP ICAP plc \n (\"TP ICAP\" or the \"Company\" and together with its subsidiaries, the \"Group\") \n announced the proposed acquisition of the \n entire issued share capital of Liquidnet Holdings, Inc. (\"Liquidnet\" and, together with its subsidiaries and the Group, the \"Enlarged Group\") for a total consideration of between US$575 million and US$700 million, comprising cash consideration of US$525 million (to be primarily financed via a rights issue which was fully underwritten on a standby basis by HSBC Bank plc (\"HSBC\") from the date of that announcement) (subject to customary adjustments) payable on completion of the Acquisition (\"Completion\"), non-contingent deferred consideration of US$50 million and contingent consideration of up to US$125 million (the \"Acquisition\").\n \n \n \n The Acquisition creates a UK-headquartered, global financial markets infrastructure provider. The Enlarged Group will be well-positioned to benefit from powerful market structure trends related to buyside objectives, such as achieving trade process efficie...