Shearwater Group PLC Result of General Meeting (2286E)
October 16 2018 - 8:13AM
UK Regulatory
TIDMSWG
RNS Number : 2286E
Shearwater Group PLC
16 October 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
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OR DISTRIBUTION WOULD BE UNLAWFUL.
This announcement contains inside information as stipulated
under the Market Abuse Regulation (EU) no. 596/2014 ("MAR").
16 October 2018
SHEARWATER GROUP PLC
("Shearwater" or the "Company" or the "Group")
Result of General Meeting
Result of Open Offer
Admission to trading on AIM
Shearwater Group plc (AIM: SWG) announces that at the General
Meeting of the Company held today, all resolutions put to
shareholders were duly passed. Accordingly, the acquisition of
Brookcourt Solutions Limited, the Placing and the Open Offer,
details of which were announced on 28 September 2018 are expected
to complete, conditional on Admission, on 17 October 2018.
The Open Offer closed for applications at 11.00 a.m. on 15
October 2018 with valid applications under the Open Offer received
from Qualifying Shareholders for 23,861,564 Open Offer Shares,
representing 86.3% of the Open Offer Shares offered. Accordingly,
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Open Offer Entitlement and any Open
Offer Shares applied for under the Excess Application Facility. The
total funds raised under the Open Offer is approximately GBP0.9
million (before expenses).
The total amount raised by investors in the Placing and Open
Offer is approximately GBP17.6 million (before expenses) by way
of:
-- the Placing of 463,000,000 New Ordinary Shares at 3.6 pence
per share raising GBP16.7 million (before expenses); and
-- a further issue of 23,861,564 New Ordinary Shares at 3.6
pence per share to Qualifying Shareholders pursuant to the Open
Offer raising approximately GBP0.9 million (before expenses).
Taken together, the Consideration Shares, Placing Shares and
Open Offer Shares will result in the allotment of a total of
907,694,897 New Ordinary Shares.
Application for admission to trading on AIM of 907,694,897 New
Ordinary Shares being issued pursuant to the Acquisition, Placing
and Open Offer has been made and Admission is expected to take
place on 17 October 2018. The New Ordinary Shares will rank pari
passu with the existing Ordinary Shares in issue.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following these issues, its issued share capital
will comprise 1,903,067,121 Ordinary Shares of 1 pence each. All of
these Ordinary Shares have equal voting rights and none of the
Ordinary Shares are held in Treasury. The total number of voting
rights in the Company will therefore be 1,903,067,121 on
Admission.
This announcement should be read in conjunction with the full
text of the Admission Document posted to Shareholders on 28
September 2018 (the "Admission Document"), copies of which are
available on the Company's website at www.theshearwatergroup.co.uk.
Capitalised terms in this announcement have the same meaning as
given in the Admission Document.
Enquiries:
Shearwater Group plc www.theshearwatergroup.co.uk
David Williams c/o Instinctif Partners
Michael (Mo) Stevens
Cenkos Securities plc - NOMAD and Broker
Max Hartley - NOMAD
Julian Morse / Michael Johnson - Sales +44 (0) 20 7397 8900
Instinctif Partners - Financial PR shearwater@instinctif.com
Adrian Duffield / Chantal Woolcock / +44 (0) 20 7427 1412
Kay Larsen
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contact rns@lseg.com or visit www.rns.com.
END
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