TIDMXPD
RNS Number : 0851U
Xpediator PLC
10 July 2018
10 July 2018
Xpediator Plc
("Xpediator" or the "Group")
Result of Placing
Xpediator, (AIM: XPD) a leading provider of freight management
services across the UK and Europe, is pleased to announce that
further to the announcement released at 7:00am this morning, the
Company has successfully raised GBP7.0 million (before expenses) by
way of a placing of 10,000,000 new ordinary shares of 5 pence each
in the Company ("Placing Shares") at 70 pence each (the "Placing").
The Placing Shares will represent approximately 7.7% of the
Enlarged Share Capital on Admission.
SP Angel Corporate Finance LLP ("SP Angel") and Cantor
Fitzgerald Europe ("Cantor") acted as placing agents to the Company
in connection with the Placing.
Details of the Placing
Application has been made for the Placing Shares, which will
rank pari passu with the existing ordinary shares of 5p each in the
Company ("Ordinary Shares"), to be admitted to trading on the AIM
market of the London Stock Exchange ("Admission"). It is expected
that Admission will occur on 11 July 2018.
Stephen Blyth, Chief Executive of Xpediator, commented:
"We are very pleased to announce a significantly oversubscribed
Placing from both new and existing investors and we are excited by
the opportunities we have in front of us. There is no doubt that
wider macro factors and consumer trends are supporting an increased
demand for logistics services across our markets but we are also
benefitting from the success of our acquisition strategy. The new
funds raised today will support the acquisition of Import Services
Limited, our fourth acquisition in the last 12 months and we expect
it will have a similarly positive impact on our financial
performance as well as significantly increasing our sea freight
capabilities."
Voting Rights
Following the issue of the Placing Shares, the total issued
share capital of the Company will comprise 129,158,838 Ordinary
Shares. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
129,158,838 and 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 their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
Enquiries:
Xpediator plc Tel: +44 (0)330 043
2395
Stephen Blyth, Chief Executive Officer Email: info@xpediator.com
Richard Myson, Chief Financial Officer
SP Angel Corporate Finance LLP (Nominated Tel: +44 (0)20 3470
Advisor & Joint Broker) 0470
Jeff Keating, Caroline Rowe
Richard Parlons, Jonathan Williams (Sales)
Cantor Fitzgerald Europe (Sole Book Runner Tel: +44 (0)20 7894
and Joint Broker) 7000
David Foreman, Michael Boot (Corporate
Finance)
Alex Pollen, Caspar Shand Kydd (Sales)
Novella Communications (Financial Public Tel: +44 (0)20 3151
Relations) 7008
Tim Robertson
Toby Andrews
For more information, please visit: www.xpediator.com
Notes
FORWARD LOOKING STATEMENTS
To the extent that this Announcement contains certain
forward-looking statements with respect to certain of the Company's
plans and its current goals and expectations relating to its future
financial condition and performance, a number of risks and
uncertainties exist. The Company cautions readers that any
forward-looking statement is no guarantee of future performance and
that actual results could differ materially from those contained in
the forward-looking statements.
A forward-looking statement can be identified by the fact that
they do not relate only to historical or current facts.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "predict" or other words of similar meaning.
Examples of forward-looking statements include, amongst others,
statements regarding or which make assumptions in respect of the
planned use of the proceeds of the Placing, the liquidity position
of the Company, the future performance of the Company, future
foreign exchange rates, interest rates and currency controls, the
future political and fiscal regimes in the overseas markets in
which the Company operates, the Company's future financial
position, plans and objectives for future operations and any other
statements that are not historical fact.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances,
including, but not limited to, economic and business conditions,
the effects of continued volatility in credit markets, market
related risks such as changes in interest rates and foreign
exchange rates, the policies and actions of governmental and
regulatory authorities, changes in legislation, the further
development of standards and interpretations under International
Financial Reporting Standards ("IFRS") applicable to past, current
and future periods, evolving practices with regard to the
interpretation and application of standards under IFRS, the outcome
of pending and future litigation or regulatory investigations, the
success of future acquisitions and other strategic transactions and
the impact of competition. A number of these factors are beyond the
Company's control. As a result, the Company's actual future results
may differ materially from the plans, goals, and expectations set
forth in the Company's forward-looking statements.
Any forward-looking statement made in this Announcement by or on
behalf of the Company speak only as of the date they are made.
These forward-looking statements reflect the Company's judgement at
the date of this Announcement and are not intended to give any
assurance as to future results. Except as required by the FCA, the
London Stock Exchange, the AIM Rules or applicable law, the Company
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward looking statements
contained in this announcement to reflect any changes in the
Company's expectations with regard thereto or any changes in
events, conditions or circumstances on which any such statement is
based.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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