RM2 International SA Proposed Equity Offering Update (9132L)

TIDMRM2

RNS Number : 9132L

RM2 International SA

24 July 2017

24 July 2017

RM2 International S.A.

("RM2" or the "Company")

Proposed Equity Offering Update

RM2 International S.A., the sustainable composite pallet innovator, announced as part of its 2016 audited annual results, which were released on 30 June 2017, that it would undertake negotiations to arrange an additional financing, which was expected to amount to at least USD 65.0 million.

The Company announces today that following market soundings over the last two weeks, the Board has concluded that the best interests of the Company and its shareholders would not be served by completing the current proposed equity offering for an amount up to GBP60 million at this time. The Board continues to pursue various other financing alternatives, which may include the issuance of equity and/or debt instruments.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, prior to publication, certain information contained within this Announcement was deemed to constitute inside information for the purposes of Article 7 of MAR. Market soundings (as defined in MAR) were taken in respect of the possible equity offering with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. Due to the publication of this Announcement, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

For further information, please contact:

 
                                     [phone] 
 RM2 International S.A.               9571 
 Jasper Judd, Chief Executive 
  Officer 
  Jean-Francois Blouvac, Chief 
  Financial Officer 
 
 Strand Hanson Limited (Nominated    [phone] 
  & Financial Adviser)                3494 
 James Spinney 
  Ritchie Balmer 
 James Bellman 
 
                                     [phone] 
 Zeus                                 5000 
 John Goold 
 
                                     [phone] 
 Arden Partners                       5928 
 Ruari McGirr 
  Chris Hardie 
 
                                     [phone] 
 Citigate Dewe Rogerson               9571 
 Simon Rigby 
  Ellen Wilton 
 

Notes to Editors

RM2 International S.A. specialises in pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L.

For further information, please visit www.rm2.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 24, 2017 08:49 ET (12:49 GMT)