REG - Duke Capital - Result of Placing

Duke CapitalAnnouncement

15/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241115:nRSO3428Ma&default-theme=true

RNS Number : 3428M  Duke Capital Limited  15 November 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER
JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE
A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

15 November 2024

 

 

 

Duke Capital Limited

 

("Duke Capital", "Duke" or the "Company")

Result of Placing

 

Further to its announcement made on 14 November 2024 regarding a proposed
fundraising to raise a minimum of £15 million by way of a placing,
subscription, retail offer and broker option (the "Fundraising"), the
Company is pleased to announce that, following the closing of the accelerated
bookbuild, it has conditionally raised gross proceeds of £17.2 million
(before expenses) under the Placing and Subscription, at the Issue Price of
27.5 pence per share, comprising 56,836,367 Placing Shares and 5,709,089
Subscription Shares.

 

Cavendish and Canaccord are acting as agents for and on behalf of the Company
in respect of the Placing.

 

Separately, the Company announced a Retail Offer to raise up to an additional
£3 million through the BookBuild Platform and a Broker Option pursuant to
which additional orders for New Shares may be placed with the Joint Brokers.
The result of the Retail Offer, Broker Option and final amount raised pursuant
to the Fundraising is expected to be announced by the Company on or around 22
November 2024.

 

Related party transactions

 

Certain of the Company's Directors (the "Subscribing Directors"), have
subscribed for an aggregate of 2,909,089 New Shares in the Fundraising at the
Issue Price, as follows:

 

  Name                                           Number of New Shares conditionally acquired by relevant person
 Neil Johnson                                    363,636
 Nigel Birrell                                   363,636
 Arlington Group Asset Management Limited ((1))  1,818,181
 Maree Wilms                                     363,636

 

((1))  Arlington Group Asset Management Limited, an entity in which Charlie
Cannon-Brookes, Executive Director, has a 50 per cent. interest.

 

The participation of the Subscribing Directors each constitutes related party
transactions under Rule 13 of the AIM Rules.

 

Accordingly, Matthew Wrigley as independent director, having consulted with
the Company's Nominated Adviser, Cavendish Capital Markets Limited, considers
that the terms of the participation in the Fundraising by the Subscribing
Directors are fair and reasonable insofar as the Company's Shareholders are
concerned.

 

Extraordinary General Meeting

 

The Fundraising and the issue of the New Shares are conditional upon, among
other things, the Resolution being duly passed by Shareholders at the
Extraordinary General Meeting.

 

The Circular, containing further details of the Fundraising and notice of the
General Meeting to be held on or around 11.00 a.m. on 3 December
2024 to, inter alia, approve the resolution required to implement the
Fundraising, is expected to be published and despatched to Shareholders on or
around 15 November 2024. Following its publication, the Shareholder Circular
will be available on the Group's website www.dukecapital.com/investors-info/.

Admission, Settlement and Dealings

Application will be made to the London Stock Exchange for admission of the New
Shares to trading on AIM, being the market of that name operated by the London
Stock Exchange.

It is expected that admission of the New Shares will take place on or around
8.00 a.m. on 4 December 2024 and that dealings in the New Shares on AIM will
commence at the same time.

In addition to the passing of the Resolution at the General Meeting, the
Placing, Broker Option and Subscription, are conditional upon, inter alia,
Admission becoming effective. The Placing and Broker Option is not subject to
clawback under the Retail Offer.

A further announcement will be made in relation to total voting rights in the
Company's share capital following the announcement of the results in respect
of the Broker Option, Retail Offer and accordingly the final number of New
Shares to be issued pursuant to the Fundraising.

Capitalised terms used in this announcement (this "Announcement") have the
meanings given to them in the Company's announcement dated 14 November 2024
released at 5:02pm, unless the context provides otherwise.

This announcement should be read in conjunction with the full text of the
Circular to be posted to Shareholders on or around15 October 2024, a copy of
which shall be available on the Company's website
at www.dukecapital.com/investors-info/.

 

***ENDS***

 

For further information, please visit https://dukecapital.com/
(https://dukecapital.com/)  or contact:

 

 Duke Capital Limited                                                    Neil Johnson / Charles Cannon Brookes / Hugo Evans  +44 (0) 1481 231 816

 Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)  Stephen Keys / Callum Davidson / Michael Johnson    +44 (0) 207 220 0500

 Canaccord Genuity Limited                                               Adam James / Harry Rees                             +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (Financial Communications)                                  Elisabeth Cowell / Alice Cho / Matthew Elliott      + +44 (0) 20 3757 6882 dukecapital@secnewgate.co.uk

 

 

About Duke Capital

 

Duke is a leading provider of hybrid capital solutions for SME business owners
in Europe and North America, combining the best features of both equity and
debt.

 

Since 2017, Duke has provided unique long-term financing which eliminates
re-financing risk and necessity for a short-term exit by providing a unique
'corporate mortgage' while also aligning its returns to grow with the success
of the business.

 

Duke is focused on generating attractive risk-adjusted returns for
shareholders and has a track record of achieving this across market cycles.
It's three investment pillars are capital preservation, attractive dividend
yield, and to provide upside upon exits.  Duke is listed on the AIM market
under the ticker DUKE and is headquartered in Guernsey.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROIEAAFLFEKLFAA