Business
Proposed Placing to raise at least £15 million
Portmeirion Group PLC is undertaking an equity fundraise to raise at least £15 million through a Placing and up to £2 million via a Retail Offer, both at an issue price of 50 pence per share. The net proceeds will be used to strengthen the balance sheet, invest in the US Amazon business, and pursue bolt-on acquisition opportunities. The company also announced a new £36 million asset-based lending facility. Directors intend to participate in the Placing, collectively investing approximately £250,000. The fundraise is crucial for the Group's transformation plan, aiming for a return to sustainable growth and profitability, with targets for annual sales growth of 4-6%, an EBIT margin of 6-8%, and 40-60% cash conversion. The company also plans to change its listed name to Spode PLC in the future. Disclaimer*
About this update from Portmeirion Group Plc
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN 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, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). For immediate release 3 June 2026 Portmeirion Group plc ("Portmeirion" or the "Company") Proposed Placing to raise at least £15 million Proposed Retail Offer to raise up to £2 million Portmeirion Group plc (AIM: PMP), the global homeware brands group, announces that it intends to raise, in aggregate, at least £15 million by way of a Placing and up to £2 million in a Retail Offer (both as defined below). Highlights: · The Company is undertaking an equity fundraise which consists of: o a proposed conditional placing of new ordinary shares of 5 pence each in the capital of the Company (the "Placing Shares") to raise at least £15 million (before fees and expenses) (the "Placing") at an issue price of 50 pence per Placing Share (the "Issue Price"); and o a proposed retail offer to raise up to £2 million (before fees and expenses) at the Issue Price (the "Retail Offer" and together with the Placing, the "Fundraise"). · The net proceeds of the Fundraise will be used: o to transform the Group's balance sheet and facilitate completion of the ABL Facility (as further described below) (approximately 80 per cent. of Placing proceeds); o to invest in the Group's US Amazon business which has recently been brought in-house (working capital and marketing) (approximately 10 per cent. of Placing proceeds); and o for a pipeline of small bolt-on acquisition opportunities which are focused on new product development, margin enhancement and supply chain security (a...
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