Draper Esprit PLC Result of General Meeting & Completion of Placing (5000I)

TIDMGROW

RNS Number : 5000I

Draper Esprit PLC

19 June 2017

THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS RESTRICTED, AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE COMPANY.

19 June 2017

Draper Esprit plc

("Draper Esprit" or the "Company")

Result of General Meeting and completion of placing and subscription

The Board of Draper Esprit plc (AIM:GROW, ESM: GRW), a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses across Europe, is pleased to announce that at a general meeting of the Company held earlier today all resolutions were duly passed.

Accordingly, and as set out in the announcement dated 2 June 2017, the Company now has the requisite authority to complete the placing and subscription to raise gross proceeds of GBP100 million.

Application has been made for 29,012,346 new ordinary shares ("Ordinary Shares") to be admitted to trading on AIM and the ESM ("Admission") and it is expected that Admission will occur on 20 June 2017. Following Admission, the Company will have 69,759,922 Ordinary Shares in issue. It is expected that a further application will be made in due course in respect of the Invesco Subscription Shares (as defined in the announcement dated 2 June 2017) on the receipt of the requisite approval from the FCA pursuant to section 185 of FSMA.

Ends

For further information, please contact:

 
Draper Esprit plc 
 Simon Cook (Chief Executive Officer) 
 Ben Wilkinson (Chief Financial Officer)   [phone] 
Numis Securities 
 Nominated Adviser & Joint Broker 
 Alex Ham 
 Richard Thomas 
 Jamie Loughborough 
 Harry Trueman                             [phone] 
Goodbody Stockbrokers 
 ESM Adviser & Joint Broker 
 Don Harrington 
 Linda Hickey 
 Charlotte Craigie 
 Richard Tunney                             [phone] 
Belvedere Communications (PR) 
 John West 
 Kim van Beeck                             [phone] 
 

Notes to Editors

Draper Esprit (www.draperesprit.com) was founded in 2006, and is one of the largest and most active VC firms in Europe, helping entrepreneurs to build global ground-breaking technology companies through hands-on board level support, internationalisation and commercialisation activities and investment.

In 2016, with the support of new institutional investors and existing shareholders, Draper Esprit transformed into a listed PLC model (LSE: GROW.L, ESM GRW.I) to take a longer term, multi-stage, patient capital approach. In recent years, Draper Esprit's exits have generated more than $4.0 billion in combined enterprise value.

Draper Esprit is the exclusive Western European member of the Silicon Valley-based Draper Global Network, with offices around the world and portfolio companies including Baidu, Skype, Space X, Tesla and other world leading companies.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 19, 2017 09:50 ET (13:50 GMT)