TIDMBEG
RNS Number : 0177S
Begbies Traynor Group PLC
11 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF BEGBIES TRAYNOR GROUP PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
11 March 2021
Begbies Traynor Group plc (" Begbies Traynor " or the " Company
" ) ( LON: BEG )
PrimaryBid.com Offer
Begbies Traynor ( LON: BEG ), the AIM quoted business recovery,
financial advisory and property services consultancy , is pleased
to announce, a conditional offer for subscription via PrimaryBid
(the "PrimaryBid Offer") of new ordinary shares of 5 pence each in
the Company ("New Ordinary Shares") at an issue price of 105.50
pence per New Ordinary Share (the "Issue Price"). The Company is
also conducting a placing of new Ordinary Shares at the Issue Price
by way of an accelerated bookbuild process (the "Placing") as
announced today.
The PrimaryBid Offer and the Placing are conditional on the New
Ordinary Shares to be issued pursuant to the PrimaryBid Offer and
the Placing being admitted to trading on AIM ("Admission").
Admission is expected to be take place at 8.00 a.m. on 17 March
2021 . The PrimaryBid Offer will not be completed without the
Placing also being completed.
The Company will use the net proceeds to fund an existing
pipeline of opportunities and for general corporate purposes. The
Company has a strategy to increase the scale and quality of the
business through value-accretive acquisitions.
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the www.PrimaryBid.com platform and the PrimaryBid mobile app
available on the Apple App Store and Google Play. PrimaryBid does
not charge investors any commission for this service.
The PrimaryBid Offer, via the PrimaryBid.com platform, will be
open to individual and institutional investors immediately
following the release of this announcement. The PrimaryBid Offer
will close at 8.00 p.m. on 11 March 2021 . The PrimaryBid Offer may
close early if it is oversubscribed.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the Offer without giving any reason for such
rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or call PrimaryBid.com on +44 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Begbies Traynor Group plc
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director 0161 837 1700
PrimaryBid Limited
Charles Spencer / James Deal 0203 026 4750
Canaccord Genuity (Nominated Advisor,
Joint Bookrunner and Joint Broker)
Emma Gabriel / Angelos Vlatakis 020 7523 8350
Shore Capital (Joint Bookrunner and
Joint Broker)
Mark Percy / Anita Ghanekar / James
Thomas 020 7408 4090
Details of the PrimaryBid Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the PrimaryBid Offer. The Company is therefore
making the PrimaryBid Offer available exclusively through
PrimaryBid.com.
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Regulation
Rules. As such, there is no need for publication of a prospectus
pursuant to the Prospectus Regulation Rules, or for approval of the
same by the Financial Conduct Authority. The PrimaryBid Offer is
not being made into any restricted jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via PrimaryBid.com.
Aggregate demand under the PrimaryBid Offer will be limited to EUR
8m (or the sterling equivalent), as is legally required.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com . The terms and conditions on which the
PrimaryBid Offer is made, including the procedure for application
and payment for New Ordinary Shares, is available to all persons
who register with PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
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END
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END
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(END) Dow Jones Newswires
March 11, 2021 12:03 ET (17:03 GMT)
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