Business
Placing
Placing.
About this update from Wynnstay Group Plc
[{"type":"text","content":"\n RNS Number : 8947M Wynnstay Group PLC 02 June 2010 \n \n\n2 June 2010\nAIM:WYN\n \nWYNNSTAY GROUP PLC\n(\"Wynnstay\" or \"the Group\")\n \nPlacing to raise £3.995 million\n \nThe Board of Wynnstay, the agricultural and retail group, is pleased to announce that it has today completed a placing, under existing authorities, of 1,700,000 ordinary shares of 25p each (\"Ordinary Shares\") at a placing price of 235p per share. The placing, which was oversubscribed, has raised a total of £3.995m million, before expenses.\n \nThe net proceeds of the placing will be used to support the Group's acquisition strategy, in particular, the acquisition announced on 27 May 2010 of Woodheads Seeds Ltd, the Yorkshire based seed processing and supply business. \n \nThe placing shares represent 10.3 per cent. of the enlarged share capital and following the issue of the placing shares, Wynnstay will have 16,470,812 ordinary shares in issue. Application has been made for the new Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on 7 June 2010. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares. \n \nKen Greetham, Chief Executive of Wynnstay, commented,\n \n\"We are delighted with the support we have seen from both new and existing institutions and in particular, the fact that the placing was oversubscribed. The placing has enabled us to broaden our institutional shareholder base whilst underpinning the acquisition of Woodheads Seeds Ltd.\"\n \nEnquiries:\n \n\n\n\n\nWynnstay Group plc\n\n\nKen Greetham, Chief Executive\n\n\nT: 01691 828512\n\n\n\n\n\n\n\nPaul Roberts, Finance Director \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBiddicks\n\n\nKatie Tzouliadis\n\n\nT: 020 7448 1000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland Limited (Nominated Adviser & Joint Broker)\n\n\nJohn Wakefield\nStuart Forshaw\n\n\nT: 0117 945 3470\nT: 0161 819 8777\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShore Capital (Joint Broker)\n\n\nAndrew Raca\n\n\nT: 020 7408 4090\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IOEQFLFBBQFBBBD \n ","length":5833,"tagName":"div"}]