Blur Group PLC Related party participation in placing (3502R)

TIDMBLUR

RNS Number : 3502R

Blur Group PLC

20 September 2017

blur Group plc

("blur", the "Group" or the "Company")

Director and Substantial Shareholder participation in placing

blur Group plc (AIM: BLUR) announces that as part of the Placing, Charles Street International Holdings Limited and certain Directors subscribed for new ordinary shares at 4 pence and Warrants, as detailed further below.

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. The Placing remains subject, inter alia, to shareholder approval.

Directors

 
                 Amount        Number           Total      Percentage         Number 
             subscribed    of Placing    shareholding    shareholding    of Warrants 
                  (GBP)        Shares    on Admission    on Admission 
                                                                  (%) 
---------  ------------  ------------  --------------  --------------  ------------- 
 David 
  Rowe          100,000     2,500,000      11,251,428             6.4      1,250,000 
---------  ------------  ------------  --------------  --------------  ------------- 
 Preeti 
  Mardia         20,000       500,000       1,357,142             0.8        250,000 
---------  ------------  ------------  --------------  --------------  ------------- 
 Richard 
  Rae            40,000     1,000,000       5,285,714             3.0        500,000 
---------  ------------  ------------  --------------  --------------  ------------- 
 Richard 
  Croft          20,000       500,000       1,928,571             1.1        250,000 
---------  ------------  ------------  --------------  --------------  ------------- 
 

The Independent Director, being Laurence Cook, considers, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation by the above Directors in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

Charles Street International Holdings Limited

Charles Street International Holdings Limited has subscribed for 6,399,998 Placing Shares and will be entitled to receive 3,199,999 warrants. Charles Street International Holdings Limited is a related party of the Company for the purposes of the AIM Rules by virtue of their status as a substantial shareholder of the Company.

Following the issue of the Placing Shares Charles Street International Holdings Limited together with Robert Keith, an executive of Charles Street International Holdings Limited, have an interest in approximately 26.6% of the enlarged issued share capital of the Company.

The Directors consider, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation by Charles Street International Holdings Limited in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

Ends

 
 
                                                                            Enquiries: 
 blur Group plc 
  David Rowe (Chairman) 
                                                                                          [phone] 
  N+1 Singer (Nominated Adviser & Broker) 
  Shaun Dobson 
  James White                                                                              [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCOKKDDABKDQCB

(END) Dow Jones Newswires

September 20, 2017 12:22 ET (16:22 GMT)