REG - Videndum PLC - Publication of Prospectus

VidendumAnnouncement

21/11/2023 13:00

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RNS Number : 1729U  Videndum PLC  21 November 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, SWITZERLAND, SOUTH KOREA, ISRAEL,
SOUTH AFRICA, JAPAN, SINGAPORE AND THE UNITED STATES AND ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OR REGULATIONS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE OR FORM PART OF
A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING HEREIN SHALL
CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION OR RECOMMENDATION TO
PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION. NOTHING IN
THIS ANNOUNCEMENT SHOULD BE INTERPRETED AS A TERM OR CONDITION OF THE CAPITAL
RAISING. NOTHING CONTAINED HEREIN SHALL FORM THE BASIS OF OR BE RELIED UPON IN
CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, ANY INVESTMENT
ACTIVITY. ANY DECISION TO PURCHASE, SUBSCRIBE FOR, OTHERWISE ACQUIRE, SELL OR
OTHERWISE DISPOSE OF ANY NEW ORDINARY SHARES MUST BE MADE ONLY ON THE BASIS OF
THE INFORMATION CONTAINED IN AND INCORPORATED BY REFERENCE INTO THE PROSPECTUS
ONCE PUBLISHED. COPIES OF THE PROSPECTUS WILL, FOLLOWING PUBLICATION, BE
AVAILABLE FROM THE REGISTERED OFFICE OF THE COMPANY AND ON ITS WEBSITE AT
WWW.VIDENDUM.COM, SUBJECT TO APPLICABLE LAW AND REGULATIONS. PLEASE SEE THE
IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

21 November 2023

VIDENDUM plc

publication of prospectus

Further to the announcements by Videndum plc (the "Company") yesterday and
earlier today relating to the firm placing, placing and open offer to raise
total gross proceeds of approximately £125 million (the "Capital Raising"),
the Company is pleased to announce that the Financial Conduct Authority
("FCA") has approved the combined prospectus and circular dated 21 November
2023 (the "Prospectus") in connection with the Capital Raising and the
Prospectus has been published by the Company.

The Prospectus contains further details of the Capital Raising and will be
posted to shareholders of the Company that have elected to receive hard copies
of such shareholder documentation as soon as practicable. The Prospectus is
also available on the Company's website,
https://videndum.com/investors/proposed-equity-raise/
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fprotect-eu.mimecast.com%2Fs%2FGZ02CEZrKI1p4zESZiJqW%3Fdomain%3Dvidendum.com%2F&data=05%7C01%7Ccallum.morganti%40slaughterandmay.com%7C3746d7192cca47c826c508dbe5f09f13%7C2bde20df36814b0eb7e57d6c9260dff7%7C1%7C0%7C638356593922123117%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=yIs4EjdI4v%2F8BWxFgmKxwK5XSDNVbfNno7MMzj%2FPRoI%3D&reserved=0)
. The Prospectus contains notice of a general meeting to approve the Capital
Raising, expected to be held at 10.30 a.m. on 7 December 2023.

A copy of the Prospectus will be submitted to the National Storage Mechanism
and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 For further information, please contact:

 Videndum plc                                                         +44 (0)20 8332 4602

Stephen Bird, Group Chief Executive

Andrea Rigamonti, Group Chief Financial Officer

Jennifer Shaw, Group Communications Director
 N.M. Rothschild & Sons Limited (Sponsor and Financial Adviser)       +44 (0)20 7280 5000

 Ravi Gupta

 John Byrne

 Shannon Nicholls

 Ricky Paul
 Jefferies International Limited (Joint Global Coordinator and Joint  +44 (0)20 7029 8000
 Bookrunner)

 Ed Matthews

 Lee Morton

 Will Soutar
 Investec plc (Joint Global Coordinator and Joint Bookrunner)         +44 (0) 20 7597 5970

 David Flin

 Ben Griffiths

 Will Brinkley
 MHP Group (Communications Adviser)                                   +44 (0) 7817 458 804

 Tim Rowntree                                                         +44 (0) 7736 464 749

 Ollie Hoare

 Robert Collett-Creedy

 Christian Harte

 

Important notices

Unless the context otherwise requires, words and expressions defined in the
Prospectus shall have the same meanings in this announcement.

This announcement has been issued by and is the sole responsibility of the
Company. The information contained in this announcement is for background
purposes only and does not purport to be full or complete. No reliance may or
should be placed by any person for any purpose whatsoever on the information
contained in this announcement or on its accuracy, fairness or completeness.
The information in this announcement is subject to change without notice.

This announcement is not a prospectus (or a prospectus equivalent document)
but an advertisement for the purposes of the Prospectus Regulation Rules of
the FCA. Neither this announcement nor anything contained in it shall form the
basis of, or be relied upon in conjunction with, any offer or commitment
whatsoever in any jurisdiction. Investors should not acquire any New Ordinary
Shares referred to in this announcement except on the basis of the information
contained in the Prospectus to be published by the Company in connection with
the Capital Raising.

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement. The Prospectus will provide further details of the New Ordinary
Shares being offered pursuant to the Capital Raising.

This announcement (and the information contained herein) is not for release,
publication, transmission, forwarding or distribution, directly or indirectly,
in whole or in part, in, into or within the United States of America, its
territories and possessions, any State of the United States or the District of
Columbia (collectively, the "United States"). This announcement is for
information purposes only and is not intended to constitute, and should not be
construed as, an offer to sell or issue, or a solicitation of any offer to
purchase, subscribe for or otherwise acquire, securities in the United States.
Securities may not be offered or sold in the United States absent registration
under the US Securities Act of 1933, as amended (the "US Securities Act"), or
an exemption therefrom. The New Ordinary Shares have not been and will not be
registered under the US Securities Act or under any securities laws of any
state or other jurisdiction of the United States and may not be offered, sold,
pledged, taken up, exercised, resold, renounced, transferred or delivered,
directly or indirectly, in or into the United States except pursuant to an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in compliance with any
applicable securities laws of any state or other jurisdiction of the United
States. No public offering of the New Ordinary Shares has been or will be made
in the United States. Subject to certain limited exceptions, Application Forms
have not been, and will not be, sent to, and Open Offer Entitlements have not
been, and will not be, credited to the CREST account of, any Qualifying
Shareholder with a registered address in or that is known to be located in the
United States. None of the New Ordinary Shares, Open Offer Entitlements,
Application Forms, this announcement or any other document connected with the
Capital Raising has been or will be approved or disapproved by the United
States Securities and Exchange Commission or by the securities commissions of
any state or other jurisdiction of the United States or any other regulatory
authority, nor have any of the foregoing authorities passed upon or endorsed
the merits of the offering of the New Ordinary Shares, or the accuracy or
adequacy of the Application Forms, this announcement or any other document
connected with the Capital Raising. Any representation to the contrary is a
criminal offence in the United States.

This announcement is for information purposes only and is not intended to and
does not constitute or form part of any offer or invitation to purchase or
subscribe for, or any solicitation to purchase or subscribe for New Ordinary
Shares or to take up any entitlements to New Ordinary Shares in any
jurisdiction. No offer or invitation to purchase or subscribe for, or any
solicitation to purchase or subscribe for New Ordinary Shares or to take up
any entitlements to New Ordinary Shares will be made in any jurisdiction in
which such an offer or solicitation is unlawful. The information contained in
this announcement and the Prospectus is not for release, publication or
distribution to persons in Australia, Canada, Switzerland, South Korea,
Israel, South Africa, Japan, Singapore and the United States, and any other
jurisdiction where the extension or availability of the Capital Raising (and
any other transaction contemplated thereby) would breach any applicable law or
regulation, and, subject to certain exceptions, should not be distributed,
forwarded to or transmitted in or into any jurisdiction, where to do so might
constitute a violation of local securities laws or regulations.

The distribution of this announcement, the Prospectus, the Application Form
and the offering or transfer of New Ordinary Shares into jurisdictions other
than the United Kingdom may be restricted by law, and, therefore, persons into
whose possession this announcement, the Prospectus, the Application Form
and/or any accompanying documents comes should inform themselves about and
observe any such restrictions. Any failure to comply with any such
restrictions may constitute a violation of the securities laws of such
jurisdiction. In particular, subject to certain exceptions, this announcement,
the Prospectus (once published) and the Application Forms (once printed)
should not be distributed, forwarded to or transmitted in or into Australia,
Canada, Switzerland, South Korea, Israel, South Africa, Japan, Singapore and
the United States, or any other jurisdiction where the extension or
availability of the Capital Raising (and any other transaction contemplated
thereby) would breach any applicable law or regulation.

Recipients of this announcement and/or the Prospectus should conduct their own
investigation, evaluation and analysis of the business, data and property
described in this announcement and/or the Prospectus. This announcement does
not constitute a recommendation concerning any investor's options with respect
to the Capital Raising. The price and value of securities can go down as well
as up. Past performance is not a guide to future performance. The contents of
this announcement are not to be construed as legal, business, financial or tax
advice. Each shareholder or prospective investor should consult his, her or
its own legal adviser, business adviser, financial adviser or tax adviser for
legal, financial, business or tax advice.

Notice to all investors

Rothschild & Co is authorised and regulated by the FCA in the United
Kingdom. Rothschild & Co is acting exclusively for Videndum plc and no one
else in connection with this announcement and the Capital Raising will not be
responsible to anyone other than Videndum plc for providing the protections
afforded to its clients nor for providing advice to any person in relation to
the Capital Raising or any matters referred to in this announcement.

Investec Bank plc ("IBP") is authorised in the United Kingdom by the
Prudential Regulation Authority and regulated by the FCA and the Prudential
Regulation Authority in the United Kingdom. Investec Europe Limited (trading
as Investec Europe) ("IEL"), acting as agent on behalf of IBP in certain
jurisdictions in the EEA (IBP and IEL together hereafter referred to as
"Investec"), is regulated in Ireland by the Central Bank of Ireland. Jefferies
is authorised and regulated by the FCA in the United Kingdom. Investec and
Jefferies are acting exclusively for Videndum plc and no one else in
connection with this announcement and the Capital Raising and will not be
responsible to anyone other than Videndum plc for providing the protections
afforded to its clients nor for providing advice to any person in relation to
the Capital Raising or any matters referred to in this announcement.

None of the Banks, nor any of their respective subsidiaries, branches or
affiliates, nor any of their respective directors, officers or employees owes
or accepts any duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Rothschild & Co, Investec or Jefferies in
connection with the Capital Raising, this announcement, any statement
contained herein, or otherwise.

No representation or warranty, express or implied, is or will be made as to,
or in relation to, and no responsibility or liability is or will be accepted
by the Banks, nor any of their respective subsidiaries, branches, affiliates
or agents as to, or in relation to, the accuracy or completeness of this
announcement or any other information made available to or publicly available
to any interested party or its advisers, whether written, oral or in a visual
or electronic form, and howsoever transmitted or made available, and any
liability therefore is expressly disclaimed. None of the information in this
announcement has been independently verified or approved by the Banks or any
of their respective affiliates.

The Joint Global Co-ordinators, in accordance with applicable legal and
regulatory provisions, may engage in transactions in relation to the New
Ordinary Shares and/or related instruments for their own account for the
purpose of hedging their underwriting exposure or otherwise. In connection
with the Capital Raising, the Joint Global Co-ordinators and any of their
respective affiliates, acting as investors for their own accounts may acquire
New Ordinary Shares as a principal position and in that capacity may retain,
acquire, subscribe for, purchase, sell, offer to sell or otherwise deal for
their own accounts in such New Ordinary Shares and other securities of the
Company or related investments in connection with the Capital Raising or
otherwise. Accordingly, references in this announcement to the New Ordinary
Shares being issued, offered, subscribed, acquired, placed or otherwise dealt
in should be read as including any issue, offer, subscription, acquisition,
placing or dealing by each of the Joint Global Co-ordinators and any of their
respective affiliates acting as investors for their own accounts. In addition,
certain of the Joint Global Co-ordinators or their respective affiliates may
enter into financing arrangements (including swaps or contracts for
difference) with investors in connection with which such Joint Global
Co-ordinators (or their respective affiliates) may from time to time acquire,
hold or dispose of New Ordinary Shares.

In the event that the Joint Global Co-ordinators acquire New Shares which are
not taken up by Qualifying Shareholders (as defined in the Prospectus), the
Joint Global Co-ordinators may co-ordinate disposals of such shares in
accordance with applicable law and regulation. Except as required by
applicable law or regulation, the Joint Global Co-ordinators and their
respective affiliates do not propose to make any public disclosure in relation
to such transactions.

Information to distributors

Solely for the purposes of the product governance requirements of Chapter 3 of
the FCA Handbook Product Intervention and Product Governance Sourcebook (the
"UK Product Governance Requirements"), and disclaiming all and any liability,
whether arising in tort, contract or otherwise, which any "manufacturer" (for
the purposes of the UK Product Governance Requirements) may otherwise have
with respect thereto the New Ordinary Shares have been subject to a product
approval process, which has determined that they each are: (a) compatible with
an end target market of retail investors and investors who meet the criteria
of professional clients and eligible counterparties, each as defined in
Chapter 3 of the FCA Handbook Conduct of Business Sourcebook; and (b) eligible
for distribution through all permitted distribution channels (the "Target
Market Assessment"). Notwithstanding the Target Market Assessment,
"distributors" (for the purposes of the UK Product Governance Requirements)
should note that: the price of the New Ordinary Shares may decline and
investors could lose all or part of their investment; the New Ordinary Shares
offer no guaranteed income and no capital protection; and an investment in the
New Ordinary Shares is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in conjunction
with an appropriate financial or other adviser) are capable of evaluating the
merits and risks of such an investment and who have sufficient resources to be
able to bear any losses that may result therefrom. The Target Market
Assessment is without prejudice to any contractual, legal or regulatory
selling restrictions in relation to the Capital Raising. Furthermore, it is
noted that, notwithstanding the Target Market Assessment, the Joint Global
Co-ordinators will only procure investors who meet the criteria of
professional clients and eligible counterparties.

 

For the avoidance of doubt, the Target Market Assessment does not constitute:
(i) an assessment of suitability or appropriateness for the purposes of
Chapters 9A or 10A, respectively, of the FCA Handbook Conduct of Business
Sourcebook; or (ii) a recommendation to any investor or group of investors to
invest in, or purchase, or take any other action whatsoever with respect to,
the New Ordinary Shares. Each distributor is responsible for undertaking its
own target market assessment in respect of the New Ordinary Shares and
determining appropriate distribution channels.

 

 

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