Business
Results of Placing
Results of Placing.
About this update from Warpaint London Plc
[{"type":"text","content":"\n \nRNS Number : 3318W Warpaint London PLC 13 November 2017 \n\n13 November 2017\n \nWarpaint London PLC\n(\"Warpaint\", the \"Company\" or the \"Group\")\n \nResults of Placing\n \nWarpaint London PLC (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 brand, is pleased to announce the successful completion of the Placing announced earlier today.\n \nA total of 11,157,894 Placing Shares have been placed subject to shareholder approval being obtained at a general meeting of Shareholders to be convened for 29 November 2017. The Placing Shares will be allocated to Placees at a price of 190 pence per share, raising gross proceeds of £21.2 million. Subject to the General Meeting and Completion of the Acquisition which was also announced earlier today, settlement and admission to trading on AIM of the Placing Shares is expected to occur on 30 November 2017.\n \nThe Placing Shares will represent, in aggregate, approximately 15 per cent. of the issued ordinary share capital of the Company as enlarged by the issue of the Placing Shares and the Consideration Shares. The Placing Price represents a discount of 8 per cent. on the closing price on 10 November 2017, being the last practicable closing mid-market price prior to the announcement issued by the Company at 7.00 a.m. this morning.\n \nThe Company is today dispatching a circular containing a notice of general meeting at which resolutions will be put to the Shareholders to authorise the allotment of new ordinary shares on a non-pre-emptive basis to fulfil the Placing and the Acquisition.\n \n \nCommenting, Sam Bazini and Eoin Macleod, Joint Chief Executives of Warpaint said: \"We are delighted with the interest in the Placing we received. We would like to welcome our new shareholders and thank all of our existing shareholders for their on-going support.\"\n \n \nDirectors' participation\n \nDirectors of the Company have, in aggregate subscribed for 352,628 new Ordinary Shares (£669,993 at the Placing Price) in the Placing. \n \nThe participation of the Directors of the Company (and/or their connected persons) in the Placing is set out in the table below: \n \n\n\n\n\n\n\n\nBeneficial holding before the Placing \n\n\nPlacing Shares \n\n\nBeneficial holding following the Placing a...