Best of the Best PLC PrimaryBid Offer (2055U)
01 April 2021 - 4:01AM
UK Regulatory
TIDMBOTB
RNS Number : 2055U
Best of the Best PLC
31 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL, OR
ANY SOLICITATION OF AN OFFER TO PURCHASE, ANY SECURITIES OF BEST OF
THE BEST PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
31 March 2021
Best of the Best plc
("Best of the Best" or the "Company") (LON: BOTB)
PrimaryBid Offer
Best of the Best (LON:BOTB), the AIM quoted provider of online
competitions to win cars and other prizes, is pleased to announce
an offer for sale via PrimaryBid (the "PrimaryBid Offer") of a
maximum of 41,666 existing ordinary shares of 5 pence each in the
Company (the "PrimaryBid Offer Shares") at an issue price of
GBP24.00 per PrimaryBid Offer Share (the "Placing Price"), being a
discount of 16.08 per cent to the closing mid-price on 31 March
2021, pursuant to the sale of existing Ordinary Shares by certain
Directors of the Company and their family (the "Selling Directors")
as announced earlier today. The PrimaryBid Offer is only available
to investors in the United Kingdom. Pursuant to the announcement of
earlier today, there is a further placing of existing Ordinary
Shares by the Selling Directors (the "Placing Shares") at the
Placing Price by way of an accelerated bookbuild process (the
"Placing", and the "Bookbuild").
Today, over 74 per cent. of the Company's shares are held by
Directors and family while the remaining c.26 per cent. of shares
are held in public hands. Accordingly, the Selling Directors
recognise that the composition of the Group's share register is
important to ensure the business continues to benefit from its
public listing and that having a strong and supportive shareholder
base is crucial to achieve this. As a result, pursuant to a number
of investor meetings and indications of strong demand for the
Company's shares, from both existing and new institutional
investors, the Selling Directors have decided to release a portion
of their shareholdings in order to satisfy this demand, broaden the
Company's shareholder base and improve liquidity. The Company is
pleased that retail shareholders are able to participate using the
PrimaryBid platform. The Company is not party to the PrimaryBid
Offer and will not receive any proceeds from the PrimaryBid
Offer.
PrimaryBid Offer
Private and other investors are being given the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the PrimaryBid mobile app available on the Apple App Store and
Google Play. PrimaryBid does not charge investors any commission
for this service.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be
open to individual investors immediately following the release of
this announcement. The PrimaryBid Offer will close at the same time
as the Bookbuild. The PrimaryBid Offer may close early if it is
oversubscribed.
The Selling Directors in consultation with PrimaryBid reserve
the right to scale back any order at their discretion. The Selling
Directors and PrimaryBid reserve the right to reject any
application for purchase under the PrimaryBid Offer without giving
any reason for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for PrimaryBid Offer Shares
has been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com.
Best of the Best plc
William Hindmarch, Chief Executive
Rupert Garton, Commercial Director 020 7371 8866
PrimaryBid Limited e nquiries@primarybid.com
C harles Spencer / James Deal
Buchanan 020 7466 5000
Chris Lane
Toto Berger
Charlotte Slater
finnCap, Nominated Adviser and Broker
Carl Holmes,
Kate Bannatyne, Corporate Finance
Alice Lane, ECM 020 7220 0500
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Rules, or for approval of the same by the Financial
Conduct Authority in its capacity as the UK Listing Authority. The
PrimaryBid Offer is not being made into any Restricted Jurisdiction
or any other jurisdiction where it would be unlawful to do so.
There is a minimum investment of GBP500 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors investing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid mobile app.
The terms and conditions on which the PrimaryBid Offer is made,
including the procedure for application and payment for PrimaryBid
Offer Shares, is available to all persons who register with
PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a purchase of PrimaryBid Offer Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to apply for PrimaryBid Offer Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the PrimaryBid Offer
Shares if they are in any doubt.
END
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END
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