Draper Esprit PLC FCA approval - issue of equity (0854N)

TIDMGROW

RNS Number : 0854N

Draper Esprit PLC

04 August 2017

04 August 2017

Draper Esprit plc

("Draper Esprit" or the "Company")

FCA approval - issue of equity

As set out in the announcement dated 2 June 2017 in respect of the placing and subscription to raise an additional GBP100 million, Invesco Perpetual agreed to subscribe for: (i) 13,580,247 Ordinary Shares at 324 pence ("the Issue Price") per Ordinary Share pursuant to the Placing; and (ii) subject to the receipt of approval from the FCA under section 185 of FSMA, 1,851,851 Ordinary Shares at the Issue Price pursuant to the Invesco Perpetual Subscription Agreement, representing, in aggregate 21.5 per cent. of the Enlarged Share Capital. The Company is pleased to announce that Invesco Perpetual has now received the necessary approval from the FCA.

Accordingly, application has been made to the London Stock Exchange and the Irish Stock Exchange for 1,851,851 Ordinary Shares to be admitted to trading on AIM and ESM respectively. It is expected that admission will become effective and that dealings in the shares will commence on 7 August 2017. Following admission, the Company will have 71,611,773 Ordinary Shares in issue.

Terms used in the announcement but not defined have the meaning as set out in the announcement dated 2 June 2017.

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

END

IOEGMGGRNFZGNZM

(END) Dow Jones Newswires

August 04, 2017 02:00 ET (06:00 GMT)