REG - Aston Martin Lagonda - Successful completion of £654m capital raise

Aston Martin Lagonda Global HoldingsAnnouncement

30/09/2022 07:16

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RNS Number : 2536B  Aston Martin Lagonda Glob.Hldgs PLC  30 September 2022

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30 September 2022

 

Aston Martin Lagonda Global Holdings plc

("Aston Martin Lagonda", the "Company" or the "Group")

 

Successful Completion of £654m Equity Capital Raise

Aston Martin Lagonda is pleased to announce the successful completion of its
£654 million equity capital raise (the "Capital Raise"). The Capital Raise,
announced on 15 July 2022, allows the Company to both meaningfully deleverage
its balance sheet, and to strengthen and accelerate its long-term growth.

To that effect, the Company also made an announcement on 29 September 2022
related to a tender offer for Aston Martin Capital Holding Limited's
outstanding notes.

Lawrence Stroll, Executive Chairman commented:

"I am delighted that we have successfully completed this transformational
capital raise which significantly strengthens our financial position and
enhances our pathway to becoming sustainably free cash flow positive. Along
with Amedeo and the leadership team, we are fully focused on unlocking the
significant shareholder value creation potential of this ultra-luxury British
performance brand.

"I would like to thank our existing shareholders for their continued support
in reaching this important milestone. The Yew Tree Consortium's shareholding
now stands at 19% following its full participation in the rights issue and
additional investment through the capital raise. I would also like to thank
Mercedes-Benz for their investment and the strong long-term partnership we
have created.

In addition, I would like to thank The Public Investment Fund, one of the
leading global investment funds, which has become a new anchor shareholder
with a 18.7% stake in the Company. Finally, I would like to welcome Geely
Holding, who have today announced that they have become a shareholder."

 

Enquiries

 Investors and Analysts
 Sherief Bakr        Director of Investor Relations              +44 (0)7789 177547

sherief.bakr@astonmartin.com

 Holly Grainger      Deputy Head, Investor Relations             +44 (0)7442 989551

holly.grainger@astonmartin.com

 Media
 Kevin Watters       Director of Communications                  +44 (0)7764 386683

kevin.watters@astonmartin.com

 Paul Garbett        Head of Corporate and Brand Communications  +44 (0)7501 380799

paul.garbett@astonmartin.com

 Grace Barnie        Corporate Communications Manager            +44 (0)7880 903490

grace.barnie@astonmartin.com

 Tulchan Communications
 Harry Cameron and Simon Pilkington                              +44 (0)20 7353 4200

 

IMPORTANT NOTICES

This announcement has been issued by and is the sole responsibility of the
Company. The information contained in this announcement is for background
purposes only and does not purport to be full or complete. No reliance may or
should be placed by any person for any purpose whatsoever on the information
contained in this announcement or on its accuracy or completeness. The
information in this announcement is subject to change.

A copy of the Prospectus is available on the Company's website at
https://www.astonmartinlagonda.com/investors/funding/september-2022-capital-raise
(https://www.astonmartinlagonda.com/investors/funding/september-2022-capital-raise)
. Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement. The Prospectus provides further details of the securities being
offered pursuant to the Rights Issue.

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement does
not contain or constitute an offer for sale or the solicitation of an offer to
purchase securities in the United States. No securities referred to herein
have been or will be registered under the US Securities Act of 1933 (the
"Securities Act") or under any securities laws of any state or other
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securities referred to herein, nor this announcement nor any other document
connected with the proposed transactions referred to herein has been or will
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or the adequacy of this announcement or any other document connected with the
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is a criminal offence in the United States.

This announcement is for information purposes only and is not intended to and
does not constitute or form part of any offer or invitation to purchase or
subscribe for, or any solicitation to purchase or subscribe for any securities
in any jurisdiction. No offer or invitation to purchase or subscribe for, or
any solicitation to purchase or subscribe for, any securities will be made in
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information contained in this announcement is not for release, publication or
distribution to persons in the United States or Australia, Canada, Japan, the
People's Republic of China or the Republic of South Africa, and should not be
distributed, forwarded to or transmitted in or into any jurisdiction, where to
do so might constitute a violation of local securities laws or regulations.

No representations or warranties, express or implied, are made as to, and no
reliance should be placed on, the accuracy, fairness or completeness of the
information presented or contained in this release. This release contains
certain forward-looking statements, which are based on current assumptions and
estimates by the management of the Company. Past performance cannot be relied
upon as a guide to future performance and should not be taken as a
representation that trends or activities underlying past performance will
continue in the future. Such statements are subject to numerous risks and
uncertainties that could cause actual results to differ materially from any
expected future results in forward-looking statements. These risks may
include, for example, changes in the global economic situation, and changes
affecting individual markets and exchange rates.

The Company provides no guarantee that future development and future results
achieved will correspond to the forward-looking statements included here and
accepts no liability if they should fail to do so. The Company undertakes no
obligation to update these forward-looking statements and will not publicly
release any revisions that may be made to these forward-looking statements,
which may result from events or circumstances arising after the date of this
release.

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form part of any invitation or inducement to engage in investment activity,
nor does it constitute an offer or invitation to buy any securities, in any
jurisdiction including the United States, or a recommendation in respect of
buying, holding or selling any securities.

This announcement is an advertisement for the purposes of the Prospectus
Regulation Rules of the Financial Conduct Authority ("FCA") and not a
prospectus and not an offer to sell, or a solicitation of an offer to
subscribe for or to acquire securities. Neither this announcement nor anything
contained herein shall form the basis of, or be relied upon in connection
with, any offer or commitment whatsoever in any jurisdiction. Investors should
not purchase or subscribe for any transferable securities referred to in this
announcement except on the basis of information contained in the Prospectus
published by the Company.

Cautionary statement regarding forward-looking statements

This announcement contains forward-looking statements, including with respect
to financial information, that are based on current expectations or beliefs,
as well as assumptions about future events. These forward-looking statements
can be identified by the fact that they do not relate only to historical or
current facts. Forward-looking statements often use words such as
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statements because they speak only as at the date of this announcement and, by
their very nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results, and the Company's plans and objectives, to differ materially from
those expressed or implied in the forward-looking statements. No
representation or warranty is made that any forward-looking statement will
come to pass.

You are advised to read the Prospectus in its entirety, and, in particular,
the section of the Prospectus headed "Risk Factors", for a further discussion
of the factors that could affect the Group's future performance and the
industry in which it operates. In light of these risks, uncertainties and
assumptions, the events described in the forward-looking statements, including
statements regarding prospective financial information, in this announcement
may not occur. These statements are not fact and should not be relied upon as
being necessarily indicative of future results, and readers of this
announcement are cautioned not to place undue reliance on the forward-looking
statements, including those regarding prospective financial information.

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statement in this announcement should be interpreted to mean that underlying
operating profit for the current or future financial years would necessarily
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operating profit or set a minimum level of operating profit.

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forward-looking statement contained within this announcement, whether as a
result of new information, future events or otherwise, other than in
accordance with their legal or regulatory obligations (including, for the
avoidance of doubt, the Prospectus Regulation Rules, the Listing Rules and
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