Castelnau Group Ltd Results of Issue

 
TIDMCGL 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR 
FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF 
THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. 
 
5 May 2023 
 
                            Castelnau Group Limited 
 
                               Results of Issue 
 
On 1 February 2023, Castelnau Group Limited ("Castelnau" or the "Company") 
published a prospectus (as amended by a supplementary prospectus published by 
the Company on 4 April 2023) (the "Prospectus") containing details of a 
proposed placing of new ordinary shares (the "Placing") to raise proceeds for 
the Company's funding obligations in respect of the recommended cash offer (the 
"Takeover Offer") for Dignity Plc by Yellow (SPC) Bidco Limited ("Bidco"), a 
newly formed company indirectly owned or controlled by a consortium comprised 
of joint offerors SPWOne V Limited, Castelnau and Phoenix Asset Management 
Partners Limited. The Company is pleased to announce that it has raised gross 
proceeds of £56.6 million through the Placing of an aggregate of 75,461,138 new 
ordinary shares ("Ordinary Shares").  The Placing was well supported by both 
existing shareholders of the Company as well as new investors. 
 
A further 26,727,844 Ordinary Shares will be issued in connection with the 
Takeover Offer to those Dignity Shareholders who opted for the Listed Share 
Alternative. In addition, 32,442,737 Ordinary Shares are to be issued pursuant 
to the Consortium Rollover as described in the Prospectus. The aggregate number 
of new Ordinary Shares to be issued pursuant to the Placing, Takeover Offer and 
Consortium Rollover will be 134,631,719. 
 
Application has been made for the admission ("Admission") of 134,631,719 
Ordinary Shares to trading on the Specialist Fund Segment of the Main Market of 
the London Stock Exchange, with Admission expected to take effect from 8.00 
a.m. on 10 May 2023. 
 
Following Admission, the Company's issued share capital will consist of 
318,627,778 Ordinary Shares, with no shares held in treasury.  Therefore, the 
total number of shares with voting rights in the Company will be 318,627,778. 
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 FCA's Disclosure 
Guidance and Transparency Rules. 
 
Except where the context requires otherwise, defined terms in this announcement 
shall have the meanings given to them in the Prospectus. A copy of the 
Prospectus is available on the Company's website at www.castelnaugroup.com, 
subject to certain access restrictions. 
 
Graham Shircore, CEO for Castelnau at Phoenix Asset Management Partners 
Limited, commented: 
 
"We are pleased with the result of the placing in what is a difficult market 
environment. We welcome the new shareholders in Castelnau, who have either 
subscribed for new shares or exchanged their Dignity shares, and thank existing 
holders who have added to their investment. We think this acquisition will add 
substantial value per share to Castelnau Group and we are now focused on 
demonstrating that value and justifying your trust in us." 
 
                                   - Ends - 
 
Enquiries 
 
Phoenix Asset Management Limited 
 
[phone] 
 
Gary Channon 
Steve Tatters 
 
 
Liberum Capital Limited (Financial 
adviser and sole bookrunner to 
Castelnau) 
 
[phone] 
 
Darren Vickers 
Owen Matthews 
Will King 
 
 
Morgan Stanley (Financial adviser to 
Bidco) 
[phone] 
 
Laurence Hopkins 
Richard Brown 
Anusha Vijeyaratnam 
 
Citigate Dewe Rogerson 
 
[phone] 
 
Caroline Merrell 
Toby Moore 
 
Notes 
 
The Company's LEI is: 213800PED8RFUBMK1T64. 
 
A copy of this announcement will be available on the Company's website at 
www.castelnaugroup.com. Neither the content of the Company's website, nor the 
content on any website accessible from hyperlinks on its website for any other 
website, is incorporated into, or forms part of, this announcement nor, unless 
previously published by means of a recognised information service, should any 
such content be relied upon in reaching a decision as to whether or not to 
acquire, continue to hold, or dispose of, securities in the Company. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 05, 2023 03:00 ET (07:00 GMT)