Blur Group PLC Result of Placing (2592R)
20 September 2017 - 5:33PM
UK Regulatory
TIDMBLUR
RNS Number : 2592R
Blur Group PLC
20 September 2017
blur Group plc
("blur", the "Group" or the "Company")
Close of Book Build and Results of Placing
blur Group plc (AIM: BLUR) is pleased to announce that a total
of 30,000,000 Placing Shares have been conditionally placed at a
price of 4 pence per Placing Share, raising proceeds of GBP1.2m
(before expenses). Placees will be contacted shortly to confirm
their allocation in the Placing.
The Placing Shares will represent approximately 17% of the
Company's enlarged issued ordinary share capital.
Placees will be entitled to receive one Warrant for every 2
Placing Shares subscribed (rounded down to the nearest whole
Warrant), each warrant entitling them to subscribe for one
additional new Ordinary Share at a price of 6 pence, exercisable at
any time in the period commencing on the first anniversary of
Admission and ending 12 months thereafter (a total of 15,000,000
Warrants). Should all Warrants issued pursuant to the Placing be
exercised, assuming no other Ordinary Shares are issued by the
Company, the new Ordinary Shares that will be issued pursuant to
the Warrants will represent approximately 8% of the Company's
enlarged issued ordinary share capital on admission of the Placing
Shares. In combination with the warrants issued pursuant to the
Company's placing completed in August 2017 (entitling those warrant
holders to subscribe for one additional new ordinary share at a
price of 3.5 pence) there are warrants over 39,654,231 Ordinary
Shares, representing approximately 22.4% of the Company's enlarged
issued ordinary share capital on admission of the Placing
Shares.
Save as otherwise defined, capitalised terms used in this
announcement have the meanings given to them in the announcement
released by the Company this morning at 7.01 a.m.
Share capital on completion of the Placing
Application will be made for the Placing Shares to be admitted
to trading on AIM. It is expected that Admission will occur on or
around 10 October 2017.
Following Admission, the Company's enlarged issued share capital
will comprise 177,092,851 Ordinary Shares of 1 pence each with
voting rights in the Company. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in the interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
The issue of the Placing Shares is conditional, amongst other
things, on the passing of the Resolutions at the General Meeting
and admission of the Placing Shares to trading on AIM.
Ends
Enquiries:
blur Group plc
David Rowe (Chairman)
+44 (0) 1392 927618
N+1 Singer (Nominated Adviser & Broker)
Shaun Dobson
James White +44 (0)20 7496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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