Vitesse Media PLC Result of Placing and Posting of Document (3945W)
August 01 2018 - 1:01AM
UK Regulatory
TIDMVIS
RNS Number : 3945W
Vitesse Media PLC
01 August 2018
1 August 2018
Vitesse Media plc
("Vitesse" or the "Company")
Result of Placing and Posting of Admission Document
Vitesse Media plc, the AIM quoted digital media and events
business, is pleased to announce the successful completion of the
Placing announced yesterday at 12:45 p.m.
A total of 23,306,875 Placing Shares have been placed at a
Placing Price of 80 pence per Placing Share (equivalent to a
placing price of 2 pence per share pre-Share Reorganisation),
subject to, inter alia, shareholder approval being obtained at a
general meeting of the Company to be convened for 16 August 2018,
raising approximately GBP18.65 million (before expenses). Of the
total amount raised, approximately GBP14.37 million (before
expenses) has been raised through the non EIS/VCT Placing and
approximately GBP4.28 million (before expenses) has been raised
through the EIS/VCT Placing. Based on the size of the Placing, the
number of Consideration Shares to be issued upon completion of the
Acquisition will be 3,815,338 New Ordinary Shares.
The Company has despatched copies of the Admission Document,
containing a notice of general meeting, and a proxy form, to
Shareholders and copies of the Admission Document and the Company's
Report and Accounts for the year ended 31 March 2018 have been
published on the Company's website at www.vitessemedia.com.
Director Participation
In addition to the participations of Nileshbhai Sachdev, Simon
Stilwell and David Brown disclosed in Yesterday's Announcement (as
defined below), Nicola Dowdall, the Company's MD of Events &
Marketing, has subscribed for 25,000 Placing Shares at the Placing
Price. The Directors (other than Nileshbhai Sachdev, Simon
Stilwell, David Brown and Nicola Dowdall) consider, having
consulted with Stockdale Securities, that the terms of each of
Nileshbhai Sachdev, Simon Stilwell, David Brown and Nicola
Dowdall's participations in the Placing are fair and reasonable
insofar as the Shareholders are concerned. Following Admission,
Nicola will hold 25,000 New Ordinary Shares, representing
approximately 0.1 per cent. of the Enlarged Share Capital.
Simon Stilwell, Chief Executive of Vitesse, commented:
"We are delighted with the interest and support we have received
in the Placing. We welcome our new shareholders and thank our
existing shareholders for their ongoing support."
All capitalised terms in this announcement are as defined in the
Company's announcement released at 12:45 p.m. yesterday
("Yesterday's Announcement").
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 ("MAR").
-ends-
For further enquiries please contact:
Vitesse Media plc +44 (0)20 7250 7035
Simon Stilwell, Chief Executive
David Brown, Group Finance Director
Stockdale Securities Limited (Nominated
Adviser and Joint Broker) +44 (0)20 7601 6100
Tom Griffiths
Ed Thomas
David Coaten
Canaccord Genuity Limited (Joint Broker)
Simon Bridges
Richard Andrews
Ben Griffiths (ECM)
Sam Lucas (ECM) +44 (0)20 7523 8000
Taurus London (Lead Adviser) +44 (0)20 7959 7000
Peter Tracey
Tom Fyson
Tom Marriage
Belvedere Communications (Financial PR) +44 (0)20 3567 0510
John West
Cat Valentine
Kim van Beeck
About Vitesse Media plc
Vitesse Media plc is an AIM-quoted leading B2B media business
specialising in three key areas: Business Information, Live Events
and Data and Insight in three key sectors: Technology, Financial
Services and Diversity. Vitesse's ambition is to create content
that informs, communities that engage and brands that inspire in
order to enable a better business environment for our sponsors and
clients.
Vitesse's flagship titles include SmallBusiness.co.uk, Growth
Company Investor, Information Age, GrowthBusiness.co.uk and What
Investment. Vitesse Media is also responsible for a growing
portfolio of high-profile events, including The Quoted Company
Awards, Women in IT Awards and British Small Business Awards,
amongst others.
For more information visit www.vitessemedia.com
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contact rns@lseg.com or visit www.rns.com.
END
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August 01, 2018 02:01 ET (06:01 GMT)
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