REG - Conygar Investmnt Co - Result of Placing

Conygar Investment CoAnnouncement

17/12/2021 16:20

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RNS Number : 0954W  Conygar Investment Company PLC(The)  17 December 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND,
SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A
VIOLATION OF LOCAL APPLICABLE SECURITIES LAWS OR REGULATIONS.

 

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION (EU) NO 596/2014 ("MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON publication of this announcement,
the inside information is now considered to be in the public domain for the
purposes of MAR.

 

 

The Conygar Investment Company PLC

(the "Company" or "Conygar")

 

Result of Placing

 

Successful Placing raising gross proceeds of approximately £10.7 million

 

The Conygar Investment Company PLC is pleased to announce the completion of
the placing announced earlier today, 17 December 2021 (the "Placing").

The Placing was conducted by way of accelerated bookbuild. The book build
process has now closed and the Company is pleased to announce that, due to
good levels of demand, 7,138,998 Placing Shares have been conditionally placed
with certain institutional and other investors at a Placing Price of 150 pence
per Placing Share, raising gross proceeds of approximately £10.7 million for
the Company.

All of the directors of the Company participated in the Placing for 704,000
Placing Shares in aggregate, at the Placing Price.

 

The Placing and settlement

The Placing Shares when issued, will represent approximately 12.0 per cent. of
the Company's enlarged ordinary share capital.

The Placing Shares, when issued, will be credited as fully paid and will rank
pari passu in all respects with the existing Ordinary Shares.

The placing of up to 5 million Placing Shares pursuant to the Placing will use
the existing shareholder authorities available to the Company which were
granted by Shareholders at the 2020 AGM, and the placing of Placing Shares in
excess of 5 million Placing Shares will use the shareholder authorities
proposed to be made available to the Company at the 2021 AGM and will
therefore be conditional upon the approval of the relevant resolutions by
Shareholders at the 2021 AGM. The Placing is also conditional, inter alia, on
the Admission of the Placing Shares to AIM and the Placing Agreement not being
terminated in accordance with its terms. Application has been made to the
London Stock Exchange for the Placing Shares to be admitted to trading on AIM.
It is expected that Admission will become effective and that dealings in the
Placing Shares will commence on or around 8.00 a.m. on 22 December 2021.

 

Directors' participation

The Directors participated in the Placing as outlined below:

 Name              Position                                Number of Placing Shares  Ordinary Shares following the Placing  Holding as a % of enlarged ordinary share capital
 Nigel Hamway      Non-Executive Chairman                  100,000                        1,189,700                         1.99%
 Bim Sandhu        Non-Executive Director                  392,500                        4,500,000                         7.55%
 Robert Ware       Chief Executive Officer                 147,500                        4,750,000                         7.96%
 Freddie Jones     Property Director                       15,000                            179,200                        0.30%
 Christopher Ware  Property Director                       34,000                         1,113,335                         1.87%
 David Baldwin     Finance Director and Company Secretary  15,000                             15,000                        0.03%

 

Total voting rights

Following Admission, the total issued share capital of the Company will be
59,638,588 Ordinary Shares of 5 pence each. The Company does not hold any
Ordinary Shares in treasury. The above figure may be used by Shareholders as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the applicable legal and regulatory
requirements.

Capitalised terms used in this announcement, which have not been defined have
the meanings given to them in the announcement made by the Company earlier
today announcing the Placing, unless the context provides otherwise.

 

Enquiries:

 The Conygar Investment Company PLC                                     020 7258 8670
 Robert Ware / David Baldwin

 Liberum Capital Limited - Bookrunner, Nominated Adviser and Broker     020 3100 2222

 Richard Lindley / Jamie Richards / Edward Phillips / Lydia Zychowska

 Temple Bar Advisory (Public Relations)
 Alex Child-Villiers

                                                                      07795 425580
 William Barker

                                                                      07827 960151

 

IMPORTANT NOTICE

This announcement contains inside information for the purposes of Article 7 of
MAR. Upon publication of this announcement, the inside information is now
considered to be in the public domain for the purposes of MAR. The person
responsible for arranging the release of this announcement on behalf of the
Company is David Baldwin.

The information contained in this announcement is for information purposes
only and does not purport to be full or complete. No reliance may be placed
for any purpose on the information contained in this announcement or its
accuracy, fairness or completeness.

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement is not
an offer of securities for sale in the United States. The securities referred
to herein have not been and will not be registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No public
offering of securities is being made in the United States.

This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in,
into or within Australia, Canada, New Zealand, Japan, South Africa or any
other jurisdiction where to do so might constitute a violation of the relevant
laws or regulations of such jurisdiction.

This announcement is for information purposes only and is not intended to and
does not contain or constitute or form part of any offer or any solicitation
to purchase or subscribe for securities in Australia, Canada, New Zealand,
Japan, South Africa or any other state or jurisdiction in which such offer or
solicitation is not authorised or to any person to whom it is unlawful to make
such offer or solicitation. Any failure to comply with these restrictions may
constitute a violation of the securities laws of such jurisdictions.

This announcement does not constitute a prospectus or offering memorandum or
an offer in respect of any securities and is not intended to provide the basis
for any decision in respect of the Company or other evaluation of any
securities of the Company or any other entity and should not be considered as
a recommendation that any investor should subscribe for or purchase any such
securities.

This announcement has been issued by, and is the sole responsibility of, the
Company. No undertaking, representation, warranty or other assurance, express
or implied, is made or given by or on behalf of the Company or any member of
the Company's group, Liberum Capital Limited ("Liberum") or any of their
respective directors, officers, partners, employees, agents or advisers or any
other person as to the accuracy or completeness of the information or opinions
contained in this announcement and no responsibility or liability is accepted
by any of them for any such information or opinions or for any errors,
omissions or misstatements, negligence or otherwise in this announcement.

Liberum, which is a member of the London Stock Exchange, is authorised and
regulated in the UK by the Financial Conduct Authority ("FCA") and is acting
as nominated adviser, broker and sole bookrunner to the Company in connection
with the Placing and Admission. Liberum is not acting for, and will not be
responsible to, any person other than the Company for providing the
protections afforded to its customers or for advising any other person on the
contents of this announcement or on any transaction or arrangement referred to
in this announcement. Liberum's responsibilities as the Company's nominated
adviser under the AIM Rules are owed solely to the London Stock Exchange and
are not owed to the Company, any director of the Company or to any other
person. No representation or warranty, express or implied, is made by Liberum
as to, and no liability is accepted by Liberum in respect of, any of the
contents of this announcement.

The information in this announcement may not be forwarded or distributed to
any other person and may not be reproduced in any manner whatsoever. Any
forwarding, distribution, reproduction, or disclosure of this information in
whole or in part is unauthorised. Failure to comply with this directive may
result in a violation of applicable securities laws and regulations of other
jurisdictions.

This announcement contains (or may contain) certain forward-looking statements
with respect to certain of the Company's current expectations and projections
about future events and the Company's future financial condition and
performance. These statements, which sometimes use words such as "aim",
"anticipate'', "believe", "may", "will", "should", "intend", "plan",
"assume'', "estimate", "expect' (or the negative thereof) and words of similar
meaning, reflect the current beliefs and expectations of the directors of the
Company and/or the Manager and involve known and unknown risks, uncertainties
and assumptions, many of which are outside the Company's control and difficult
to predict, that could cause actual results and performance to differ
materially from any expected future results or performance expressed or
implied by the forward-looking statement.

The information contained in this announcement speaks only as of the date of
this announcement and is subject to change without notice and the Company does
not assume any responsibility or obligation to, and does not intend to, update
or revise publicly or review any of the information contained to this
announcement, whether as a result of new information, future events or
otherwise, except to the extent required by the FCA, the London Stock Exchange
or by applicable law. These forward-looking statements reflect the Company's
judgment at the date of this announcement and are not intended to give any
assurance as to future results.

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