Business
Results of Placing
Results of Placing.
About this update from Vanquis Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 1532P Provident Financial PLC 14 August 2014 \n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \n14 August 2014\n \nPROVIDENT FINANCIAL PLC\n \nResults of Placing\n \nProvident Financial plc (Provident or the Company) is pleased to announce the successful completion of the placing announced earlier today (the Placing).\nA total of 5,911,330 new ordinary shares in Provident (the Placing Shares) have been placed by J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove (J.P. Morgan Cazenove) at a price of 2,030 pence per Placing Share, raising proceeds of approximately £120,000,000 (before expenses). \nThe Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of 208/11 pence each in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid after the date of issue of the Placing Shares.\nApplications will be made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc (together Admission). It is expected that Admission will take place at 8.00 a.m. on 19 August 2014 and that dealings in the Placing Shares will commence at the same time.\nAs part of the Placing, Invesco Ltd (Invesco) purchased 1,100,000 Placing Shares for a total consideration of £22,330,000. Invesco currently holds approximately 19.2 per cent. of the current issued share capital of the Company. The issue of Placing Shares to Invesco, which is a substantial shareholder of the Company under Chapter 11 of the Listing Rules, amounts to a smaller related party transaction as defined in Listing Rule 11.1.10.\nEnquiries\n\n\n\n\nPROVIDENT FINANCIAL PLC\nMedia\nDavid Stevenson, Provident  ...