Business
Final Details of the Capital Raising
Final Details of the Capital Raising.
About this update from Xps Pensions Group Plc
[{"type":"text","content":"\n \nRNS Number : 6841Y Xafinity PLC 07 December 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT, WHICH DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT, IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES, AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n7 December 2017\nXafinity plc\nFinal Details of the Capital Raising\nFirm Placing and Placing and Open Offer to raise £70 million\nat 170 pence per New Ordinary Share\n \nXafinity plc (\"Xafinity\" or the \"Company\") (ticker: XAF), the pensions actuarial, consulting and administration business, is pleased to announce the results of its accelerated bookbuild. \nSubject to, inter alia, the Resolutions being passed at the General Meeting which is expected to be convened to be held on or around 4 January 2018, in aggregate, 41,176,470 Capital Raising Shares are to be issued pursuant to the Firm Placing and the Placing and Open Offer, at an Offer Price of 170 pence per Capital Raising Share, raising gross proceeds of approximately £70 million.\nThe Offer Price of 170 pence per Capital Raising Share represents a discount of 1.7 per cent. to the Closing Price of 173.0 pence per Ordinary Share on 6 December 2017 (being the last Business Day before the announcement of the Capital Raising).\nThe 41,176,470 Capital Raising Shares to be issued pursuant to the Capital Raising will represent 23.1 per cent. of the Enlarged Share Capital following Admission of the Capital Raising Shares and 20.2 per cent. of the Enlarged Share Capital following Admission of the Completion Shares.\nFirm Placing\nThe Company is proposing to raise gross proceeds of approximately £52.1 million through the Firm Placing of 30,645,990 Firm Placing Shares which will represent approximately 74.4 per cent. of the Capital Raising Shares and app...