AIM Sch 1 Update - Duke Royalty Limited (4425X)
February 21 2017 - 5:25AM
UK Regulatory
TIDMDUKE
RNS Number : 4425X
AIM
21 February 2017
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT
PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2
OF THE AIM RULES FOR COMPANIES ("AIM RULES")
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COMPANY NAME:
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Duke Royalty Limited (the "Company" or "Duke")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT,
COMPANY TRADING ADDRESS (INCLUDING POSTCODES)
:
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4(th) Floor, West Wing
St Peter Port
Guernsey
GY1 2JA
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COUNTRY OF INCORPORATION:
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Guernsey
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION
REQUIRED BY AIM RULE 26:
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www.dukeroyalty.com/
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF
OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION
IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER
UNDER RULE 14, THIS SHOULD BE STATED:
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Duke was incorporated as Praetorian Resources
Limited in 2012 and established as a natural
resource investment vehicle. On 16 June 2015,
Shareholders resolved to amend the Company's
investing policy to invest in a diversified
portfolio of royalty finance and related opportunities
and to change its name to Duke Royalty Limited.
On 29 March 2016, the Company announced the
sale of the last of its natural resource investments
and is now seeking re-admission to AIM as a
Rule 8 investing company to enable it to implement
its investing policy, which is detailed below:
To build a stable and reliable income for Shareholders
by seeking to invest in, without limitation
and restrictions (including geographic restrictions):
(i) long-term, revenue-based royalties in private
and/or public companies; and/or
(ii) other alternative asset classes and/or
financing instruments from time to time that
bear similar risk and return characteristics
to the investments in paragraph (i).
The Company has built a near-term pipeline of
potential Royalty Financing transactions
amounting to approximately GBP75 million. Duke
will provide financing to Royalty Partners in
one or more instalments in return for monthly
royalty payments.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING
ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES
(i.e. where known, number and type of shares,
nominal value and issue price to which it seeks
admission and the number and type to be held
as treasury shares):
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Number of Ordinary Shares of no par value to
be admitted: TBC
The shares are freely transferable and have
no restrictions placed on them.
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
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Capital raised on admission: TBC
Market capitalisation on admission: TBC
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS
AT ADMISSION:
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Percentage of AIM securities not in public hands
at admission: TBC
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM
TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED
TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS
AIM SECURITIES) ADMITTED OR TRADED:
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The Company is not listed on any other exchange.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED
DIRECTORS (underlining the first name by which
each is known or including any other name by
which each is known):
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Nigel Norman Birrell (Non-Executive Chairman)
Neil Allan Johnson (Chief Executive Officer)
Charles (Charlie) Cannon-Brookes (Executive
Director)
James (Jim) Alan Ryan (Non-Executive Director)
Mark Wilson Le Tissier (Non-Executive Director)
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS
EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE
CAPITAL, BEFORE AND AFTER ADMISSION (underlining
the first name by which each is known or including
any other name by which each is known):
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Shareholder Name Percentage Percentage
Holding before Holding after
Admission Admission
----------------------- ---------------- ---------------
Neil Johnson (1) 11.55% TBC
----------------------- ---------------- ---------------
Artemis Investment 5.78% TBC
Management plc
----------------------- ---------------- ---------------
Charlie Cannon-Brookes 5.76% TBC
(2)
----------------------- ---------------- ---------------
Jim Ryan 5.08% TBC
----------------------- ---------------- ---------------
Nigel Birrell 5.08% TBC
----------------------- ---------------- ---------------
Richard Lockwood 4.87% TBC
(3)
----------------------- ---------------- ---------------
Justin Cochrane 4.00% TBC
----------------------- ---------------- ---------------
APAC Resources Limited 3.31% TBC
----------------------- ---------------- ---------------
Malcolm Burne 3.30% TBC
----------------------- ---------------- ---------------
Ravenscroft Ltd 3.17% TBC
----------------------- ---------------- ---------------
(1) Of this percentage holding, 6.35 per cent.
before Admission and [TBC] per cent. after Admission
is legally owned by Abingdon Capital Corporation.
Neil Johnson is Abingdon's sole voting shareholder.
(2) Of this percentage holding, 3.74 per cent.
before Admission and [TBC] per cent. after Admission
is legally owned by Arlington Group Asset Management
Limited ("Arlington"). Charlie Cannon-Brookes
is the investment director of Arlington and
holds 40 per cent. of the voting shares of Arlington.
(3) Richard Lockwood is a director of Arlington
and holds 20 per cent. of the voting shares
of Arlington.
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE
WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
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N/A
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION
IN THE ADMISSION DOCUMENT HAS BEEN PREPARED
(this may be represented by unaudited interim
financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST
THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 March
(ii) No historical financial information is
being included in the AIM admission document.
The date of the last notified accounts of the
Company was 30 September 2016
(iii) audited results for the year to 31 March
2017 by 30 September 2017;
unaudited interim results for the six months
to 30 September 2017 by 31 December 2017;
audited results for the year to 31 March 2018
by 30 September 2018
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EXPECTED ADMISSION DATE:
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Early March 2017
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Grant Thornton UK LLP
30 Finsbury Square
London
EC2P 2YU
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NAME AND ADDRESS OF BROKER:
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Cantor Fitzgerald Europe
One Churchill Place
London
E14 5RB
Mirabaud Securities LLP
33 Grosvenor Place
London
SW1X 7HY
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT,
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS)
THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM,
WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION
OF ITS SECURITIES:
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The Admission Document, containing full details
about Duke Royalty Limited and the admission
of its issued share capital to trading on AIM,
will be available during normal business hours
on any weekday (excluding Saturdays, Sundays
and public holidays) at the registered office
of McCarthy Tétrault, 26(th) Floor, 125
Old Broad Street, London, EC2N 1AR and the registered
office of the Company until at least one month
after Admission.
Copies of the Admission Document will also be
available on the Company's website at www.dukeroyalty.com
following Admission.
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DATE OF NOTIFICATION:
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21 February 2017
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NEW/ UPDATE:
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UPDATE
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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