RBG Holdings PLC Limited Employee Share Sale to Satisfy Demand (0577O)
07 Junio 2022 - 11:20AM
UK Regulatory
TIDMRBGP
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
Rick Thompson / Alex Bond / James Fischer (Corporate 3000
Finance)
Tom Salvesen (Corporate Broking)
SEC Newgate (for media enquiries) Tel: +44 (0)7540
Robin Tozer/Richard Bicknell 106366 rbg@secnewgate.co.uk
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.
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