REG - Duke Capital - Result of Retail Offer and Broker Option

Duke CapitalAnnouncement

22/11/2024 15:45

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RNS Number : 3915N  Duke Capital Limited  22 November 2024

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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").

 

 

 

22 November 2024

 

 

Duke Capital Limited

 

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

 

 

Result of Retail Offer and Broker Option

 

 

Further to its recent announcement regarding the Fundraising, the Company is
pleased to announce that the Retail Offer, made available through the
BookBuild Platform, has now closed and was significantly oversubscribed. As a
result, in consideration of Duke's valued and supportive retail shareholder
base, the Company has chosen to upscale the maximum size of the Retail Offer
to £5.0 million to enable fuller allocation to Retail Investors. Given the
over-subscription, allocation preference has been given to existing
shareholders of the Company.

 

In addition, the Broker Option granted to Cavendish and Canaccord has received
valid applications for 4,727,362 Broker Option Shares, representing additional
gross proceeds of £1.3 million.

 

Accordingly, the Company can confirm that it has conditionally raised total
gross proceeds of £23.5 million pursuant to the Fundraising, comprising the
Placing, Subscription, Retail Offer and Broker Option.

 

Consequently, conditional on the passing of the Resolution at the
Extraordinary General Meeting, the Company will issue 85,454,636 New shares
comprising 56,836,367 Placing Shares, 4,727,362 Broker Option Shares,
5,709,089 Subscription Shares, and 18,181,818 Retail Offer Shares.

 

Admission and Total Voting Rights

 

Application will be made for the New Shares to be admitted to trading on AIM
("Admission"). Admission is expected to take place at 8.00 a.m. on or around 4
December 2024.

 

The New Shares will, when issued, be credited as fully paid and will rank pari
passu in all respects with existing Ordinary Shares including the right to
receive all dividends and other distributions declared, made or paid after
their date of issue.

 

Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 509,815,773 with each Ordinary Share carrying the
right to one vote. There are no shares held in treasury and therefore,
following Admission, the total number of voting rights in the Company will be
509,815,773. 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 to their interest in, the share capital
of the Company under the FCA's Disclosure, Guidance and Transparency Rules.

 

Capitalised terms used in this announcement have the meaning given to them in
the Placing and Retail Offer announcements dated 14 November 2024, unless
otherwise defined in this announcement.

 

 

 

***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 / Sam Lucas                 +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (Financial Communications)                                  Elisabeth Cowell / Alice Cho                        + +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.

 

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