Euromoney Institutional InvestorPLC Euromoney - Update on Share Buyback (3955R)
09 December 2016 - 6:00PM
UK Regulatory
TIDMERM TIDMDMGT
RNS Number : 3955R
Euromoney Institutional InvestorPLC
09 December 2016
FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATION OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Euromoney Institutional Investor PLC
("Euromoney" or the "Company")
Update on Daily Mail and General Trust plc ("DMGT") placing and
Euromoney buyback to deliver Euromoney greater financial control
and strategic autonomy
The Company refers to its announcement of 8 December 2016
regarding DMGT's agreement to sell c.10 per cent of the Company's
issued share capital to certain institutional investors by means of
an accelerated bookbuild (the "Placing") and the agreement between
Euromoney, DMGT and a wholly-owned subsidiary of DMGT to acquire
c.15 per cent of the Company's issued share capital by means of an
off-market share buyback (the "Buyback"), and to the announcement
by DMGT on 9 December 2016 regarding the results of the
Placing.
The Board is pleased to note that DMGT has committed to sell
c.13.0 million shares in Euromoney under the Placing, representing
10.2 per cent of the Company's issued share capital, at a price of
GBP9.75 per share.
Further to yesterday's announcement it has also been agreed that
Euromoney will acquire c.19.2 million of its own shares under the
Buyback, representing 15.0 per cent of the Company's issued share
capital, at a price of GBP9.75 per share, the same price as the
Placing.
The Company intends to publish a circular to seek shareholder
approval for the Buyback at a general meeting expected to be held
before the end of December 2016. The Company will continue to
update the market as appropriate.
END
Enquiries:
Euromoney Institutional Investor PLC
Colin Jones, Finance Director
+44 (0) 20 7779 8666; cjones@euromoneyplc.com
FTI Consulting
Charles Palmer, Senior Managing Director
+44 (0) 20 3727 1400; euromoney@fticonsulting.com
Ondra
Michael Tory, Partner
+44 (0) 20 7082 8750
HSBC
Oliver Smith, Managing Director
+44 (0) 20 7991 8888
HSBC Bank plc ("HSBC"), which is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct
Authority and the Prudential Regulation Authority in the UK is
acting as joint financial adviser and as sponsor (in relation to
the advice required under LR 13.6.1(5)) to Euromoney and no one
else in connection with the Buyback or any other matter referred to
in this announcement. In connection with such matters, HSBC, its
affiliates, and its or their respective directors, officers,
employees and agents will not regard any other person as their
client, nor will they be responsible to anyone other than Euromoney
for providing advice in relation to the Buyback or any other matter
referred to in this announcement.
Ondra LLP ("Ondra"), which is authorised and regulated by the
Financial Conduct Authority in the UK is acting as financial
adviser to Euromoney and no one else in connection with the Buyback
or any other matter referred to in this announcement. In connection
with such matters, Ondra, its affiliates, and its or their
respective partners, directors, officers, employees and agents will
not regard any other person as their client, nor will they be
responsible to anyone other than Euromoney for providing advice in
relation to the Buyback or any other matter referred to in this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSLVLLBQLFBFBK
(END) Dow Jones Newswires
December 09, 2016 02:00 ET (07:00 GMT)
Daily Mail & General (LSE:DMGT)
Historical Stock Chart
From Apr 2024 to May 2024
Daily Mail & General (LSE:DMGT)
Historical Stock Chart
From May 2023 to May 2024