Business
Results of the Open Offer
Results of the Open Offer.
About this update from Xps Pensions Group Plc
[{"type":"text","content":"\n \nRNS Number : 7813A Xafinity PLC 03 January 2018 \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 \n3 January 2018\nXafinity plc\nResults of the Open Offer\n \nOn 7 December 2017, Xafinity plc (\"Xafinity\" or the \"Company\") (ticker: XAF), the pensions actuarial, consulting and administration business, announced details of a Capital Raising to raise gross proceeds of approximately £70 million through the issue of 30,645,990 Firm Placing Shares and 10,530,480 Open Offer Shares, in each case at an issue price of 170 pence per Capital Raising Share. The Open Offer Shares were conditionally placed with institutional investors at the Offer Price, subject to clawback to satisfy valid applications by Qualifying Shareholders pursuant to the Open Offer. The Firm Placing Shares were not subject to clawback and were not part of the Open Offer. The Open Offer closed for acceptances at 11.00 a.m. on 2 January 2018.\nThe Company announces that it has received applications in respect of 18,540,627 Open Offer Shares from Qualifying Shareholders under the Open Offer and Excess Application Facility, representing a proportion of approximately 176.06 per cent of the Open Offer Shares offered. In total, 9,907,771 Open Offer Shares are to be allotted and issued in satisfaction of Open Offer Entitlements under the Open Offer (representing all of the valid acceptances received in relation to Open Offer Entitlements) and 622,709 Open Offer Shares are to be allotted and issued pursuant to the Excess Application Facility.\nThe Firm Placing and Placing and Open Offer are conditional upon, among other things, the app...