REG - Autins Group PLC - Close of Bookbuild and Result of Placing

AutinsAnnouncement

19/11/2021 17:50

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RNS Number : 0354T  Autins Group PLC  19 November 2021

THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, THE REPUBLIC OF IRELAND,
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JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE
END OF THIS ANNOUNCEMENT.

 

 

Autins Group plc

(the "Company" or the "Group")

 

Close of Bookbuild and Result of Placing

 

Autins Group plc (AIM: AUTG), the UK and European based manufacturer of the
patented Neptune melt-blown material and specialist in the design, manufacture
and supply of acoustic and thermal insulation solutions, is pleased to confirm
that, further to the announcement earlier today, the bookbuilding process has
now closed (the "Placing") and the Company has conditionally raised gross
proceeds of £3.0 million through the Placing of 15,000,000 new ordinary
shares at a price of 20 pence per share. The Placing Price represents a
discount of 21.6% to the closing mid-market price of 25.5 pence per share on
18 November 2021.

 

The Placing (details of which were provided in the Company's announcement
published earlier today) is conditional on, inter alia, the passing of the
Resolutions to be proposed at a General Meeting expected to be held at the
Company's offices of Central Park Drive, Rugby, Warwickshire, CV23 0WE at
11.15 a.m. on 9 December 2021. A circular providing further details of the
Placing and a notice convening the General Meeting will be sent to
Shareholders on 22 November 2021 and will be available on the Company's
website once published.

 

Directors and Substantial Shareholder participation in the Placing

Director Participation

The number of Placing Shares subscribed for by each of the Directors in the
Placing, and their resulting shareholdings on Admission (on the basis that no
ordinary shares are issued between the date of this announcement and
Admission, other than the Placing Shares), are set out below:

 Director               Number of Placing Shares  Holding of Ordinary Shares Post-Admission  % of Enlarged Issued Share Capital
 Gareth Kaminski- Cook  65,000                    245,228                                    0.45%
 Kamran Munir           45,000                    45,000                                     0.08%
 Neil MacDonald         75,000                    200,000                                    0.37%
 Adam Attwood           75,000                    675,000                                    1.24%

 

Substantial Shareholder Participation

 

Schroders plc, Stonehage Fleming Investment Management Limited and Premier
Miton Group each hold over 10 per cent. of the Company's existing issued share
capital and consequently are considered to be related parties pursuant to Rule
13 of the AIM Rules. Schroders plc is subscribing for 5,470,000 Placing
Shares, Stonehage Fleming Investment Management Limited is subscribing for
2,500,000 Placing Shares, and Premier Miton Group is subscribing for 2,850,000
Placing Shares, all at the Placing Price.

 

Each of the above subscriptions for Placing Shares constitute a related party
transaction for the purposes of the AIM Rules. The Independent Directors,
having consulted with Singer Capital Markets, the Company's nominated adviser,
consider that the respective participations in the Placing by the substantial
shareholders detailed above are fair and reasonable in so far as the
Shareholders are concerned.

 

Capitalised terms used in this announcement shall, unless defined in this
announcement or unless the context provides otherwise, bear the same meaning
ascribed to such terms in the announcement made by the Company on 19 November
2021 to announce the launch of the Placing.

 

For further information please contact:

 Autins Group plc

 Gareth Kaminski-Cook, Chief Executive   Via Newgate

 Kamran Munir, CFO

 Singer Capital Markets                  Tel: 020 7496 3000

 (Nominated Adviser and Broker)

 Mark Taylor / Asha Chotai

 SEC Newgate                             Tel: 020 7653 9850

 (Financial PR)

 Bob Huxford

 Tom Carnegie

 

About Autins

 

Autins is the UK and European manufacturer of the patented Neptune melt-blown
material and specialises in the design, manufacture, and supply of acoustic
and thermal insulation solutions.

 

 

 

 

 

 

 

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