Duke Royalty Limited Re-Admission and First Day of Dealings (3903A)

TIDMDUKE

RNS Number : 3903A

Duke Royalty Limited

23 March 2017

Duke Royalty Limited

("Duke Royalty" or the "Company")

Re-Admission and First Day of Dealings

St. Peter Port, Guernsey - March 23, 2017 - Duke Royalty Limited, a public diversified royalty company (AIM: DUKE), is pleased to announce the commencement of dealings earlier today in its ordinary shares having successfully raised GBP15 million before expenses (the "Fundraising"), as announced on 17 March 2017.

The Company's Nominated Adviser, Grant Thornton UK LLP, advised the Company in relation to its re-admission to AIM and Fundraising and Cantor Fitzgerald Europe and Mirabaud Securities LLP acted as Joint Brokers to the Company.

SUMMARY

-- Pursuant to the Fundraising, a total of 37,500,000 New Shares have been successfully placed or subscribed for in the Company at a price of 40 pence per share (the "Issue Price"), with new and existing institutional investors, as well as certain Directors.

-- Gross proceeds of GBP15.0 million (net proceeds GBP13.8 million after expenses) were raised pursuant to the Fundraising which will be used for the Company's inaugural royalty investments and working capital, in anticipation of delivering its maiden dividend to shareholders.

-- The Company is pleased to have several significant institutional shareholders holding over 3 per cent. of the Company, including Hargreaves Hale, Brookfield's Partner Value Investments Inc., AXA Investment Managers, Artemis Investment Management, and Henderson Global Investors.

-- The number of ordinary shares in issue immediately after Re-admission is 45,377,459, giving the Company a market capitalisation of approximately GBP21.6 million as at market close.

Commenting on the re-admission to AIM and the Fundraising, Neil Johnson, Chief Executive Officer, said:

"Duke Royalty is the first quoted diversified royalty company in Europe, and we look forward to bringing our alternative financing solutions to the European marketplace to help fill the funding gap for well-run, profitable, private companies across Europe and abroad.

"The Board has been delighted by the support of its new investors which are some of the largest investment managers in the world. The quality of our investors and exclusive global collaboration partner Oliver Wyman validates our belief in the exciting opportunity to bring royalty financing to European companies and UK investors. We look forward to delivering value for our shareholders in the months and years ahead."

Other than where defined, capitalised terms used in the announcement have the meanings given to them in the Fundraising announcement of 17 March 2017.

For further information, please contact:

 
 Duke Royalty Limited        Neil Johnson / Charlie Cannon-Brookes 
                             [phone] 
 
 
 Grant Thornton UK LLP       Colin Aaronson / Samantha 
  (Nominated Adviser)         Harrison / Jamie Barklem/ 
                              Carolyn Sansom 
                             [phone] 
 
 Cantor Fitzgerald Europe    Marc Milmo / Catherine Leftley 
  (Joint Broker)              / Callum Butterfield 
                             [phone] 
 
 Mirabaud Securities         Peter Krens / Edward Haig-Thomas 
  LLP (Joint Broker) 
                             [phone] 
 

About Duke Royalty

Headquartered in Guernsey, Duke Royalty Limited provides alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team and exclusive partnership provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders.

Duke Royalty is quoted on AIM, a market operated by the London Stock Exchange, under the ticker DUKE. For more information, visit dukeroyalty.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AIMPGURCWUPMGQW

(END) Dow Jones Newswires

March 23, 2017 13:00 ET (17:00 GMT)