TIDMBBGI
RNS Number : 8682B
BBGI SICAV S.A.
07 April 2017
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, BY ANY
MEANS OR MEDIA, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR
INTO OR FROM CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
BBGI SICAV S.A.
("BBGI" or the "Company")
Result of Equity Issue
Further to the announcement of 29 March, the Directors of BBGI
are pleased to announce that the Placing was significantly
oversubscribed and after undertaking a scaling back exercise,
GBP58.5 million of gross proceeds has been raised. A total of
43,039,300 new ordinary shares will be issued at a price of 136.0
pence each.
Application has been made for the new ordinary shares to be
admitted to the Official List of the UK Listing Authority and to
trading on the Main Market of the London Stock Exchange
("Admission"). It is expected that Admission will become effective
and dealings in the new ordinary shares will commence at 8.00 a.m.
on 11 April 2017.
Following Admission, the number of ordinary shares that the
Company has in issue will be 475,254,936. The total number of
voting rights of the Company will be 475,254,936 and 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.
The Placing is conditional, among other things, on Admission
being effective and the Placing Agreement between Jefferies, Stifel
and the Company not being terminated.
Commenting, Co-CEOs Duncan Ball and Frank Schramm said:
"We are delighted and encouraged by the support shown from
existing and new investors to this fundraising. The fundraising
will provide the Company with additional financial flexibility to
pursue suitable new primary and secondary investment
opportunities."
As part of the issue, M&G Investments ("M&G") subscribed
for, on behalf of its clients, 5,471,600 shares for a total
consideration of GBP7,441,376. Additionally, Newton Investment
Management ("Newton") subscribed for, on behalf of its clients,
6,042,582 shares for a total consideration of GBP8,217,912. The
issue of shares to M&G and Newton, which are substantial
shareholders of the Company under Chapter 11 of the Listing Rules,
amount to smaller related party transactions as defined in Listing
Rule 11.1.10.
Enquiries:
BBGI Management Team +352 263479-1
Duncan Ball duncan.ball@bb-gi.com
Frank Schramm frank.schramm@bb-gi.com
Jefferies Hoare Govett +44 20 7029 8000
Gary Gould gary.gould@jefferies.com
Andrew Morris amorris@jefferies.com
Stifel Nicolaus Europe Limited +44 20 7710 7600
Neil Winward neil.winward@stifel.com
Tom Yeadon tom.yeadon@stifel.com
Important Information
The information contained within this Announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (Regulation 596/2014). Upon the
publication of this Announcement via a Regulatory Information
Service this inside information is now considered to be in the
public domain.
This Announcement has been issued by and is the sole
responsibility of the Company.
This Announcement and the information contained herein is not
for release, publication or distribution, directly or indirectly,
in whole or in part, in or into or from the United States, Canada,
Australia, Japan, the Republic of South Africa or any other
jurisdiction where to do so might constitute a violation of the
relevant laws or regulations of such jurisdiction.
Persons (including, without limitation, nominees and trustees)
who have a contractual or other legal obligation to
forward a copy of this Announcement should seek appropriate
advice before taking any action.
Any indication in this Announcement of the price at which the
Ordinary Shares have been bought or sold in the past cannot be
relied upon as a guide to future performance. Persons needing
advice should consult an independent financial adviser. No
statement in this Announcement is intended to be a profit forecast
and no statement in this Announcement should be interpreted to mean
that earnings per share of the Company for the current or future
financial years would necessarily match or exceed the historical
published earnings per share of the Company.
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this Announcement.
Jefferies International Limited and Stifel Nicolaus Europe
Limited each of which is authorised and regulated in the United
Kingdom by the FCA, are acting exclusively for the Company and
no-one else in connection with the Placing or the matters referred
to in this Announcement, will not regard any other person as their
respective client in relation to the Placing and will not be
responsible to anyone other than the Company for providing the
protections afforded to their respective clients or for providing
advice in relation to the Placing or any transaction or arrangement
referred to in this Announcement.
No representation or warranty express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by either Jefferies or Stifel or by any of
their respective affiliates or agents as to or in relation to, the
accuracy or completeness of this Announcement or any other written
or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIDDGDSGXGBGRL
(END) Dow Jones Newswires
April 07, 2017 02:00 ET (06:00 GMT)
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