REG - Duke Royalty Limited - Raises £20m through Placing and PrimaryBid Offer

Duke CapitalAnnouncement

11/05/2022 07:15

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RNS Number : 0297L  Duke Royalty Limited  11 May 2022

THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS
STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR") AS
THEY FORM PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

11 May 2022

 

Duke Royalty Limited

 

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

Raises £20m through Placing and PrimaryBid Offer

 

Further to the announcement of 10 May 2022 regarding the proposed placing via
accelerated bookbuild (the "Placing Announcement"), the Company is pleased to
announce that it has successfully raised £18.5 million (before expenses)
under the Placing at the Issue Price (35p). Cenkos and Canaccord acted as
Joint Bookrunners in connection with the Placing.

In addition, the Company is also pleased to announce that it has raised the
maximum amount under the PrimaryBid Offer of £1.5 million (before expenses)
following the closing of the offer on 10 May 2022.

The Company's Directors and their related parties have agreed to subscribe for
1,500,000 Placing Shares at the Issue Price.

The PrimaryBid Offer and the Placing remain conditional on the passing of the
Resolution by Shareholders at the Extraordinary General Meeting and the New
Ordinary Shares being admitted to trading on AIM. Application will be made
for 57,142,858 New Ordinary Shares (representing the 52,857,143 Placing
Shares and the 4,285,715 PrimaryBid Shares) to be admitted to trading on
AIM ("Admission"), which is expected to be take place at 8.00 a.m. on 26
May 2022.

Following Admission, the Company will have 415,946,218 Ordinary Shares in
issue carrying voting rights admitted to trading on AIM. This figure
415,946,218 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 Company under the FCA's
Disclosure Guidance and Transparency Rules.

A circular, containing further details of the Fundraising and notice of the
Extraordinary General Meeting to be held at 11.00 a.m. on 26 May 2022 to,
inter alia, approve the resolution required to implement the Fundraising, is
expected to be published and despatched to Shareholders on 11 May 2022 (the
"Circular").  Following its publication, the Shareholder Circular will be
available on the Group's website at https://www.dukeroyalty.com/investors
(https://www.dukeroyalty.com/investors)

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the Placing Announcement.

 

 

For further information, please visit www.dukeroyalty.com
(http://www.dukeroyalty.com) or contact:

 

 Duke Royalty Limited     Neil Johnson / Charlie Cannon Brookes / Hugo Evans                       +44 (0) 1481 741 240

 Cenkos Securities plc    Stephen Keys / Callum Davidson / Dan Hodkinson / Julian Morse / Michael  +44 (0) 207 397 8900

                        Johnson

 (Nominated Adviser

 and Joint Broker)

 Canaccord Genuity        Adam James / Sam Lucas / Georgina McCooke                                +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (PR)         Elisabeth Cowell/ Richard Bicknell                                       + 44 (0) 20 3757 6880 dukeroyalty@secnewgate.co.uk

 

About Duke Royalty

 

Duke Royalty Limited provides alternative capital solutions to a diversified
range of profitable and long-established businesses in Europe and abroad.
Duke Royalty's experienced team provide financing solutions to private
companies that are in need of capital but whose owners wish to maintain equity
control of their business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke Royalty is
listed on the AIM market under the ticker DUKE and is headquartered
in Guernsey.

 

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