TIDMPTRO
RNS Number : 8562B
Pelatro PLC
14 June 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
(WITHDRAWAL) ACT 2018.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF PELATRO 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)
14 June 2021
Pelatro plc
(" Pelatro " or the " Company " ) (LON: PTRO )
PrimaryBid Offer
Pelatro ( LON : PTRO ), the AIM quoted telecom Customer
Engagement software specialist , is pleased to announce, a
conditional offer for subscription via PrimaryBid (the "PrimaryBid
Offer") of new ordinary shares of 2.5 pence each in the Company
("New Ordinary Shares") at an issue price of 40 pence per New
Ordinary Share (the "Issue Price"), being a discount of 23.8 per
cent to the closing mid-price on 14 June 2021. The Company is also
conducting a GBP2.15 million placing of new Ordinary Shares at the
Issue Price by way of a placing with
institutional and other investors (the "Placing") as announced earlier today.
The PrimaryBid Offer and the Placing are conditional on the new
Ordinary Shares to be issued pursuant to the PrimaryBid Offer and
the Placing being admitted to trading on AIM ("Admission"). The
PrimaryBid Offer and Placing are also conditional upon Shareholder
approval at the General Meeting of the Company which will be held
at 49 Queen Victoria Street, London EC4N 4SA, at 11.00 a.m. on 1
July 2021. Admission of the PrimaryBid Shares is expected to take
place at 8.00 a.m. on 5 July 2021 . The PrimaryBid Offer will not
be completed without the Placing also being completed.
The Company will use the funds raised for the following
purposes:
o GBP1.5 million (approximately) will be invested in the mobile
advertising opportunity, primarily in sales and marketing
o The remainder of the net proceeds will be used to strengthen
the Company's balance sheet, including the repayment of short and
long term debt
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors 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 and institutional investors following the
release of this announcement. The PrimaryBid Offer is expected to
close at 12.00 p.m. on 15 June 2021. The PrimaryBid Offer may close
early.
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the 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 New Ordinary 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.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
P elatro plc c/o Cenkos Securities
Subash Menon, Managing Director plc
N ic Hellyer, Finance Director
PrimaryBid Limited enquiries@primarybid.com
Charles Spencer / James Deal
C enkos Securities plc , Nominated Advisor
and broker
Stephen Keys / Mark Connelly (Corporate Finance)
Michael Johnson / Dale Bellis (Sales) +44 (0)20 7397 8900
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through the PrimaryBid mobile app.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Regulation Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Regulation Rules, or for approval of the same by the
Financial Conduct Authority in its capacity as the UK Listing
Authority. The 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 subscription of GBP250 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the Offer is
made, including the procedure for application and payment for New
Ordinary 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 subscription for New Ordinary 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 subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
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END
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