VIS Vitesse Media

TIDMVIS

RNS Number : 3945W

Vitesse Media PLC

01 August 2018

1 August 2018

Vitesse Media plc

("Vitesse" or the "Company")

Result of Placing and Posting of Admission Document

Vitesse Media plc, the AIM quoted digital media and events business, is pleased to announce the successful completion of the Placing announced yesterday at 12:45 p.m.

A total of 23,306,875 Placing Shares have been placed at a Placing Price of 80 pence per Placing Share (equivalent to a placing price of 2 pence per share pre-Share Reorganisation), subject to, inter alia, shareholder approval being obtained at a general meeting of the Company to be convened for 16 August 2018, raising approximately GBP18.65 million (before expenses). Of the total amount raised, approximately GBP14.37 million (before expenses) has been raised through the non EIS/VCT Placing and approximately GBP4.28 million (before expenses) has been raised through the EIS/VCT Placing. Based on the size of the Placing, the number of Consideration Shares to be issued upon completion of the Acquisition will be 3,815,338 New Ordinary Shares.

The Company has despatched copies of the Admission Document, containing a notice of general meeting, and a proxy form, to Shareholders and copies of the Admission Document and the Company's Report and Accounts for the year ended 31 March 2018 have been published on the Company's website at www.vitessemedia.com.

Director Participation

In addition to the participations of Nileshbhai Sachdev, Simon Stilwell and David Brown disclosed in Yesterday's Announcement (as defined below), Nicola Dowdall, the Company's MD of Events & Marketing, has subscribed for 25,000 Placing Shares at the Placing Price. The Directors (other than Nileshbhai Sachdev, Simon Stilwell, David Brown and Nicola Dowdall) consider, having consulted with Stockdale Securities, that the terms of each of Nileshbhai Sachdev, Simon Stilwell, David Brown and Nicola Dowdall's participations in the Placing are fair and reasonable insofar as the Shareholders are concerned. Following Admission, Nicola will hold 25,000 New Ordinary Shares, representing approximately 0.1 per cent. of the Enlarged Share Capital.

Simon Stilwell, Chief Executive of Vitesse, commented:

"We are delighted with the interest and support we have received in the Placing. We welcome our new shareholders and thank our existing shareholders for their ongoing support."

All capitalised terms in this announcement are as defined in the Company's announcement released at 12:45 p.m. yesterday ("Yesterday's Announcement").

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").

-ends-

For further enquiries please contact:

 
 Vitesse Media plc                           +44 (0)20 7250 7035 
 Simon Stilwell, Chief Executive 
  David Brown, Group Finance Director 
 Stockdale Securities Limited (Nominated 
  Adviser and Joint Broker)                  +44 (0)20 7601 6100 
 Tom Griffiths 
  Ed Thomas 
  David Coaten 
 Canaccord Genuity Limited (Joint Broker) 
  Simon Bridges 
  Richard Andrews 
  Ben Griffiths (ECM) 
  Sam Lucas (ECM)                            +44 (0)20 7523 8000 
 Taurus London (Lead Adviser)                +44 (0)20 7959 7000 
 Peter Tracey 
  Tom Fyson 
  Tom Marriage 
 Belvedere Communications (Financial PR)     +44 (0)20 3567 0510 
 John West 
  Cat Valentine 
  Kim van Beeck 
 

About Vitesse Media plc

Vitesse Media plc is an AIM-quoted leading B2B media business specialising in three key areas: Business Information, Live Events and Data and Insight in three key sectors: Technology, Financial Services and Diversity. Vitesse's ambition is to create content that informs, communities that engage and brands that inspire in order to enable a better business environment for our sponsors and clients.

Vitesse's flagship titles include SmallBusiness.co.uk, Growth Company Investor, Information Age, GrowthBusiness.co.uk and What Investment. Vitesse Media is also responsible for a growing portfolio of high-profile events, including The Quoted Company Awards, Women in IT Awards and British Small Business Awards, amongst others.

For more information visit www.vitessemedia.com

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 or visit www.rns.com.

END

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(END) Dow Jones Newswires

August 01, 2018 02:01 ET (06:01 GMT)

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