We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arden Partners Plc | LSE:ARDN | London | Ordinary Share | GB00B15CTY44 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMARDN
RNS Number : 7823H
Arden Partners plc
12 June 2017
For immediate release 12 June 2017
Arden Partners plc
("Arden" or the "Company")
Result of the Placing and Related Party Transaction
Result of the Placing
As a result of the accelerated bookbuilding process announced earlier today, Arden is pleased to announce that it has conditionally raised gross proceeds of GBP5.1 million through the successful placing (the "Placing") with institutional and other investors of 12,750,000 new Ordinary Shares (the "Placing Shares") at a price of 40 pence per Placing Share (the "Placing Price"). The Placing Price represents a premium of approximately 1.3 per cent. to the Closing Price of 39.5 pence on 9 June 2017 (the latest practicable date prior to the Placing). The Placing Shares will represent approximately 39.6 per cent. of the Enlarged Issued Share Capital on Admission, assuming no other issuance of new Ordinary Shares prior to Admission.
Completion of the Placing is subject, inter alia, to Shareholder approval, which will be sought at the General Meeting to be held at 125 Old Broad Street, London EC2N 1AR at 10.00 a.m. on 29 June 2017. A circular containing further details of the Placing and including the Notice of General Meeting (the "Circular") is expected to be posted to Shareholders later today and will thereafter be available on the Company's website at www.arden-partners.com.
It is intended that the net proceeds of the Placing will used to further strengthen the Arden balance sheet.
Expected timetable: 2017 Posting of the Circular and Form 12 June of Proxy Latest time and date for receipt 10.00 a.m. on of Forms of Proxy for the General 27 June Meeting Time and date of General Meeting 10.00 a.m. on 29 June Admission and commencement of 8.00 a.m. on dealings in the Placing Shares 30 June
Each of the times and dates above refer to London time and are subject to change by the Company. Any such change will be notified to Shareholders by an announcement on a Regulatory Information Service.
Related Party Transaction
Luke Johnson, James Reed-Daunter, Donald Brown and Stephen Wassell, all of whom are Directors, have conditionally subscribed for Placing Shares in the Placing as follows:
Director Number Per cent. Holding Per cent of Placing of total of Enlarged of Enlarged Shares Placing Issued Share Issued Share subscribed Shares Capital Capital following following Admission* Admission* Luke Johnson 1,250,000 9.80% 3,445,112 10.70% James Reed-Daunter 200,000 1.57% 2,553,644 7.93% Stephen Wassell 37,500 0.29% 801,243 2.49% Donald Brown 200,000 1.57% 200,000 0.62%
* assuming no other issuance of new Ordinary Shares prior to Admission
The participation of the above mentioned Directors and Director in the Placing (the "Directors' Participation") constitutes a related party transaction for the purpose of the AIM Rules.
Jonathan Keeling, and Mark Ansell, being the Independent Directors consider, having consulted with GCA Altium, the Company's nominated adviser, that the Directors' Participation is fair and reasonable in so far as Shareholders are concerned.
Arden's Chief Executive Officer, Donald Brown, commented:
"We are delighted with the results of the oversubscribed placing and the quality of the institutional names that are coming onto Arden's shareholder list. We look to the future with enthusiasm."
Capitalised terms used but not defined in this Announcement shall have the meanings given to such terms in the Circular.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information please contact:
Arden Partners plc Tel: +44 (0) 20 7614 Donald Brown (Chief Executive 5900 Officer) Stephen Wassell (Chief Operating Officer) GCA Altium Limited (NOMAD) Tel: +44 (0) 20 7484 Sam Fuller / Tim Richardson 4040
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEDLLBFDQFFBBV
(END) Dow Jones Newswires
June 12, 2017 03:21 ET (07:21 GMT)
1 Year Arden Partners Chart |
1 Month Arden Partners Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions