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Share Name Share Symbol Market Type Share ISIN Share Description
Blackrock Throgmorton Trust Plc LSE:THRG London Ordinary Share GB0008910555 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00 -1.45% 680.00 674.00 682.00 686.00 674.00 686.00 174,580 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.4 6.3 8.6 79.4 594

BlackRock Throg Tst Result of Placing

20/11/2020 12:25pm

UK Regulatory (RNS & others)


 
TIDMTHRG 
 
BlackRock Throgmorton Trust PLC (the "Company") 
 
LEI: 5493003B7ETS1JEDPF59 
 
Result of Placing 
 
Further to the announcement on 17 November 2020, the Board of BlackRock 
Throgmorton Trust PLC (the "Company") is pleased to announce that the Company 
has raised GBP18.4 million, through an issue of 2,681,851 Ordinary Shares at a 
price of 687.63 pence per share (the "Placing Price"). The Placing Price 
represented a premium of 1.5% to the unaudited net asset value, including 
current year income, per Ordinary Share as at close of business on 19 November 
2020. This brings the total number of shares issued in the past twelve months 
to 14,099,045 raising approximately GBP88.3m in new equity via the sale of shares 
from Treasury or the issue of new shares. 
 
Stifel Nicolaus Europe Limited acted as Sole Bookrunner in relation to the 
Placing. 
 
Admission 
 
An application has been made in respect of the 2,681,851 new Ordinary Shares to 
be issued pursuant to the Placing to be admitted to the premium segment of the 
Official List and to trading on the London Stock Exchange's Main Market for 
listed securities ("Admission"). It is expected that Admission will become 
effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. 
(London time) on 24 November 2020. The new Ordinary Shares will, when issued be 
credited as fully paid and will rank pari passu with the existing Ordinary 
Shares . 
 
Related party transaction 
 
As part of the Placing, Brewin Dolphin Limited ("Brewin Dolphin") subscribed 
for, on behalf of its clients,  756,209 new Ordinary Shares at the Placing 
Price and on the terms and conditions of the Placing for a total consideration 
of GBP5,199,920. The issue of Ordinary Shares to Brewin Dolphin, which is a 
substantial shareholder of the Company under Chapter 11 of the Listing Rules, 
amounts to a smaller related party transaction as defined in Listing Rule 
11.1.10. 
 
Total voting rights 
 
The number of Ordinary Shares that the Company will have in issue following the 
Placing is 87,339,371  (Ordinary Shares held in treasury: nil). With effect 
from 24 November 2020 the total number of voting rights of the Company will be 
87,339,371. This figure may be used by shareholders as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or a change to their interest in the Company, under the Disclosure 
Guidance and Transparency Rules. 
 
Future issuance 
 
Following the Placing, the Company has remaining shareholder authority, as 
granted at the last annual general meeting ("AGM") of the Company, held on 25 
March 2020, to issue up to 625,835 further Ordinary Shares on a non pre-emptive 
basis, being approximately 0.7% of the Ordinary Shares that will be in issue. 
The Company will shortly be issuing a circular to shareholders to seek a 
renewed authority to issue up to 10% of the Ordinary Shares that will be in 
issue on a non pre-emptive basis. The Board considers that it is in 
Shareholders' interests that the Company has, at all times, the flexibility to 
issue Ordinary Shares in order to ensure that it can manage the premium to NAV 
at which its Ordinary Shares may trade, in line with its discount/premium 
control policy. 
 
Contact details for queries: 
 
BlackRock Investment Management (UK) Limited 
 
Simon White 
Kevin Mayger 
Tel: 020 7743 1098 
 
Stifel Nicolaus Europe Limited 
 
Corporate: 
Mark Bloomfield 
Maarten Freeriks 
 
Sales: 
Phil Hopkins 
Jonathan Crabtree 
Hugh Middleton 
 
Tel: 020 7710 7600 
 
 
 
END 
 

(END) Dow Jones Newswires

November 20, 2020 07:25 ET (12:25 GMT)

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