REG - THG PLC - Equity Raise Post-Transaction Report

THGAnnouncement

15/10/2024 16:31

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RNS Number : 2983I  THG PLC  15 October 2024

 

 

For immediate release

 

 

15 October 2024

THG PLC

Equity Raise Post-Transaction Report

 

In accordance with the Statement of Principles (November 2022) published by
the Pre-Emption Group, THG PLC ("THG", the "Company"), announces the following
post transaction report in connection with the Company's non-pre-emptive issue
of equity securities, as announced on 11 October 2024.

 

Terms defined in the placing announcement issued on 10 October 2024 (the
"Placing Announcement") have the same meanings in this announcement unless the
context provides otherwise.

 

 Name of Issuer       THG PLC
 Transaction Details  The Company issued 194,722,333 new Ordinary Shares in total pursuant to the
                      Fundraise (comprising 138,265,306 Placing Shares, 45,408,163 Subscription
                      Shares and 11,048,864 Retail Offer Shares), representing approximately 14.6%
                      of the Company's existing issued Ordinary Shares prior to the Fundraise.

                      Settlement and admission of the Placing Shares, the Subscription Shares and
                      the Retail Offer Shares took place at 8.00 am on 15 October 2024.
 Use of Proceeds      As set out in the Placing Announcement and the result of placing announcement
                      issued on 11 October 2024, approximately £75 million of net institutional
                      proceeds of the Fundraise will be used to provide IngenuityCo with sufficient
                      medium-term funding (in tandem with appropriate standalone debt issuance
                      plans) and the net proceeds raised in excess of £75 million will be used for
                      general corporate purposes.
 Quantum of Proceeds  The aggregate proceeds from the Fundraise amounted to approximately £95.4
                      million.

 Discount             The Placing Price of 49 pence represented a discount of approximately 5.2 per
                      cent. to the closing price on 10 October 2024.
 Allocations          Soft pre-emption has been adhered to in the allocations process, where
                      possible. Management was involved in the allocations process, which has been
                      carried out in compliance with the MIFID II Allocation requirements.
 Consultation         The Company consulted with a number of its major shareholders prior to the
                      Fundraise, with certain of the Company's long-term shareholders indicating
                      their intention to subscribe for, in aggregate, £33 million of new Ordinary
                      Shares at the Placing Price pre-launch as set out in the Placing Announcement.
 Retail Investors     The Fundraise included a Retail Offer via the PrimaryBid platform, for a total
                      of 11,048,864 Retail Offer Shares, raising gross proceeds of approximately
                      £5.4 million.

                      Retail investors, who participated in the Retail Offer, were able to do so at
                      the same Placing Price as all other investors participating in the Fundraise.

                      The Retail Offer was made available to existing shareholders and new investors
                      in the UK. Investors were able to participate through PrimaryBid's platform
                      via its partner network (covering 60+ FCA registered intermediaries) and
                      through PrimaryBid's free-to-use direct channel. Investors had the ability to
                      participate in this transaction through ISAs and SIPPs, as well as General
                      Investment Accounts (GIAs). This combination of participation routes meant
                      that, to the extent practicable on the transaction timetable, eligible UK
                      retail investors (including certificated retail shareholders) had the
                      opportunity to participate in the Capital Raise alongside institutional
                      investors.

 

 

 

For further information, please contact:

 

 Investor Enquiries:                                                          Investor.Relations@thg.com

 Greg Feehely, SVP Investor Relations

 Kate Grimoldby, Director of Investor Relations and Strategic Projects
 Media enquiries:                                                             +44 (0)20 7250 1446

                                                                              thg@sodali.com

 Sodali & Co - Financial PR adviser

 Victoria Palmer-Moore / Russ Lynch
 THG PLC                                                                      Viki.tahmasebi@thg.com

 Viki Tahmasebi
 Barclays (Joint Global Coordinator, Joint Bookrunner and Joint Corporate     +44 (0)20 7623 2323
 Broker):

 Alastair Blackman

 Dominic Harper

 Callum West
 Jefferies International Limited (Joint Global Coordinator, Joint Bookrunner  +44 (0)20 7029 8000
 and Joint Corporate Broker):

 Philip Noblet

 Ed Matthews

 Gavriel Lambert
 Peel Hunt LLP (Joint Bookrunner)                                             +44 (0)20 7418 8900

 George Sellar

 Sohail Akbar

 Andrew Clark

 

 

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