REG - RBG Holdings PLC - Limited Employee Share Sale to Satisfy Demand

RBG HoldingsAnnouncement

07/06/2022 17:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220607:nRSG0577Oa&default-theme=true

RNS Number : 0577O  RBG Holdings PLC  07 June 2022

7 June 2022

 

RBG Holdings plc

("RBG", the "Group", or the "Company")

 

Limited Employee Share Sale to Satisfy Investor Demand

RBG Holdings plc (AIM: RBGP), the professional services group, announces that
today certain employees and the Trustee of the Company's employee benefit
trust ("EBT") sold in aggregate 2,000,000 ordinary shares of 0.2 pence each in
the capital of the Company ("Ordinary Shares") at a price of 100 pence per
share in order to satisfy new institutional investor demand for the Ordinary
Shares of the Company. The shares sold by employees represent 2.5% of the
total number of the Company's shares that are held by employees.

 

These employees have been allowed by the Company to sell Ordinary Shares that
were subject to lock-in agreements as the Company believes it is important to
be able to satisfy the investor demand received as a result of the Company's
marketing activities to attract new institutional investors onto the Company's
register and improve liquidity.

 

Of the shares held by Group employees, 31% are subject to lock in agreements.
Those sellers who are employees of Convex Capital were subject to lock-in
agreements that were due to expire in September 2022. The remaining shares
held by these Convex Capital employees will remain subject to this lock-in
arrangement which has been extended by an additional four months to 16 January
2023. The sellers who were Partners of Memery Crystal (and now employees of
RBGLS Ltd) were subject to lock-in agreements that were due to expire in May
2023. The remaining Ordinary Shares held by these RBGLS employees will be
subject to a further 12-month lock-in agreement which will expire in May 2024.

 

Nicky Foulston, CEO, RBG, commented:

"With this limited sell down, I am delighted to have been able to expand RBG's
institutional shareholder base and improve liquidity. I am committed to
proactively manage the share lock-ins of our internal shareholders in a way
that best suits the needs of the Company and all our shareholders."

 

 

Enquiries:

 

 RBG Holdings plc                                                 Via SEC Newgate

 Nicola Foulston, CEO

 Singer Capital Markets (Nomad and Broker)                       Tel: +44 (0)20 7496 3000

 Rick Thompson / Alex Bond / James Fischer (Corporate Finance)

 Tom Salvesen (Corporate Broking)
 SEC Newgate (for media enquiries)                               Tel: +44 (0)7540 106366 rbg@secnewgate.co.uk (mailto:rbg@secnewgate.co.uk)

 Robin Tozer/Richard Bicknell

 

 

About RBG Holdings plc

RBG Holdings plc is a professional services group, which comprises the
following divisions:

 

RBG Legal Services Limited ("RBGLS")

RBGLS is the Group's legal services division which combines the businesses
previously operated by Rosenblatt Limited and Memery Crystal LLP.

 

Rosenblatt

Rosenblatt is one of the UK's pioneering legal practices and a leader in
dispute resolution. Rosenblatt provides a range of legal services to its
diversified client base, which includes companies, banks, entrepreneurs and
individuals. Complementing this is Rosenblatt's increasingly international
footprint, advising on complex cross-jurisdictional disputes.

 

Memery Crystal

Memery Crystal offers legal services in a range of areas such as corporate
(including a market-leading corporate finance offering), real estate,
commercial, IP & technology (CIPT), banking & finance, tax &
wealth structuring and employment. Memery Crystal is one of the leading legal
practices in the UK to advise the emerging cannabis sector on a wide range of
business issues. Memery Crystal offers a partner-led service to a broad range
of clients, from multinational companies, financial institutions and
owner-managed businesses to individual entrepreneurs.

 

LionFish Litigation Finance Limited ("LionFish")

The Group also provides litigation finance in selected cases through a
separate arm, LionFish Litigation Finance Limited. LionFish finances
litigation matters being run by other solicitors in return for a significant
return on the outcome of those cases. As such, the Group has two types of
litigation assets - Rosenblatt's own client matters, and litigation matters
run by third-party solicitors. LionFish is positioned to be a unique,
alternative provider to the traditional litigation funders.

 

Convex Capital Limited ("Convex Capital")

Convex Capital is a specialist sell-side corporate finance boutique based in
Manchester. Convex Capital is entirely focused on helping companies,
particularly owner-managed and entrepreneurial businesses, realise their value
through sales to large corporates. Convex Capital identifies and proactively
targets firms that it believes represent attractive acquisition opportunities.

 

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  MSCUBANRUBUNRAR