Picture of Duke Capital logo

DUKE Duke Capital News Story

0.000.00%
gb flag iconLast trade - 00:00
FinancialsBalancedSmall CapNeutral

REG - Duke Royalty Limited - Result of Placing




 



RNS Number : 2238U
Duke Royalty Limited
01 April 2021
 

 

 

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.

 

1 April 2021

 

Duke Royalty Limited

 

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

Result of Placing

 

Further to the announcement of 31 March 2021 regarding the proposed placing via accelerated bookbuild (the "Placing Announcement"), the Company is pleased to announce that it has successfully raised £32 million (before expenses) under the Placing, which was significantly oversubscribed.

 

Cenkos and Canaccord acted as Joint Bookrunners in connection with the Placing.

 

The PrimaryBid Offer remains open for participation until 5.00 p.m. on 6 April 2021 and a further announcement will be made regarding the final amount raised under the PrimaryBid Offer.

 

The following directors and their related parties have agreed to subscribe for Placing Shares at the Issue Price:

 

Director/Related Party

Number of Placing Shares subscribed

Neil Johnson (CEO)

200,000

Nigel Birrell (Chairman)

200,000

Arlington Partners Fund*

235,639

 

*Arlington Partners Fund is owned by Arlington Group Asset Management Limited, in which Charlie Cannon-Brookes, Executive Director, has a 50 per cent. interest.

The Company will issue 91,428,573 new Ordinary Shares pursuant to the Placing at the issue price of 35p per share. Admission and dealings in the Placing Shares and the PrimaryBid Shares are expected to commence on AIM on 19 April 2021, subject to the passing of the Resolution by Shareholders at the Extraordinary General Meeting. A further announcement will be made in due course regarding the application for admission to Trading of the New Ordinary Shares following the announcement of the result of the PrimaryBid Offer.

A circular, containing further details of the Fundraising and notice of the Extraordinary General Meeting to be held at 11.00 a.m. on 16 April 2021 to, inter alia, approve the resolution required to implement the Fundraising, is expected to be published and despatched to Shareholders on 1 April 2021 (the "Circular").  Following its publication, the Shareholder Circular will be available on the Group's website at 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 or contact:

 

Duke Royalty Limited

Neil Johnson / Charlie Cannon Brookes / Hugo Evans

 

 

+44 (0) 1481 741 240

Cenkos Securities plc 

(Nominated Adviser

and Joint Broker)

 

Stephen Keys / Callum Davidson / Julian Morse / Michael Johnson

 

+44 (0) 207 397 8900

 




Canaccord Genuity

(Joint Broker)

 

Adam James / Sam Lucas / Georgina McCooke

+44 (0) 207 523 8000

SEC Newgate (PR)

Elisabeth Cowell/ Tom Carnegie/ Megan Kovach

+ +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.

 

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 or visit 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.
 
END
 
 
ROIDZGFFMMZGMZZ

Recent news on Duke Capital

See all news