Duke Royalty Limited Raises GBP20m through Placing and PrimaryBid Offer (0297L)
11 May 2022 - 4:05PM
UK Regulatory
TIDMDUKE
RNS Number : 0297L
Duke Royalty Limited
11 May 2022
THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE
INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU)
NO. 596/2014 ("MAR") AS THEY FORM PART OF UK DOMESTIC LAW BY VIRTUE
OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
11 May 2022
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Raises GBP20m through Placing and PrimaryBid Offer
Further to the announcement of 10 May 2022 regarding the
proposed placing via accelerated bookbuild (the "Placing
Announcement"), the Company is pleased to announce that it has
successfully raised GBP 18.5 million (before expenses) under the
Placing at the Issue Price (35p). Cenkos and Canaccord acted as
Joint Bookrunners in connection with the Placing.
In addition, the Company is also pleased to announce that it has
raised the maximum amount under the PrimaryBid Offer of GBP1.5
million (before expenses) following the closing of the offer on 10
May 2022.
The Company's Directors and their related parties have agreed to
subscribe for 1,500,000 Placing Shares at the Issue Price.
The PrimaryBid Offer and the Placing remain conditional on the
passing of the Resolution by Shareholders at the Extraordinary
General Meeting and the New Ordinary Shares being admitted to
trading on AIM. Application will be made for 57,142,858 New
Ordinary Shares (representing the 52,857,143 Placing Shares and the
4,285,715 PrimaryBid Shares) to be admitted to trading on AIM
("Admission"), which is expected to be take place at 8.00 a.m. on
26 May 2022.
Following Admission, the Company will have 415,946,218 Ordinary
Shares in issue carrying voting rights admitted to trading on AIM.
This figure 415,946,218 may be used by Shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
A circular, containing further details of the Fundraising and
notice of the Extraordinary General Meeting to be held at 11.00
a.m. on 26 May 2022 to, inter alia, approve the resolution required
to implement the Fundraising, is expected to be published and
despatched to Shareholders on 11 May 2022 (the "Circular").
Following its publication, the Shareholder Circular will be
available on the Group's website at
https://www.dukeroyalty.com/investors
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the Placing
Announcement.
For further information, please visit www.dukeroyalty.com or
contact:
Neil Johnson / Charlie
Cannon Brookes / Hugo
Duke Royalty Limited Evans +44 (0) 1481 741 240
Cenkos Securities Stephen Keys / Callum
plc Davidson / Dan Hodkinson
(Nominated Adviser / Julian Morse / Michael
and Joint Broker) Johnson +44 (0) 207 397 8900
Canaccord Genuity Adam James / Sam Lucas
(Joint Broker) / Georgina McCooke +44 (0) 207 523 8000
SEC Newgate (PR) Elisabeth Cowell/ Richard + 44 (0) 20 3757 6880
Bicknell dukeroyalty@secnewgate.co.uk
About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad. Duke Royalty's experienced team provide
financing solutions to private companies that are in need of
capital but whose owners wish to maintain equity control of their
business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke
Royalty is listed on the AIM market under the ticker DUKE and is
headquartered in Guernsey.
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