AIM Schedule One - Vitesse Media plc (9786W)
06 Agosto 2018 - 11:30AM
UK Regulatory
TIDMVIS
RNS Number : 9786W
AIM
06 August 2018
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT
PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2
OF THE AIM RULES FOR COMPANIES ("AIM RULES")
------------------------------------------------------------
COMPANY NAME:
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Vitesse Media plc (Proposed to be renamed Bonhill
Group plc)
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT,
COMPANY TRADING ADDRESS (INCLUDING POSTCODES):
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Registered Office and Principal Trading Address:
14 Bonhill Street
London
EC2A 4BX
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COUNTRY OF INCORPORATION:
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United Kingdom
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION
REQUIRED BY AIM RULE 26:
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www.vitessemedia.com (to change to www.bonhillplc.com
at admission)
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF
OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION
IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER
UNDER RULE 14, THIS SHOULD BE STATED:
------------------------------------------------------------
Vitesse Media plc (the "Company" or "Vitesse")
is an AIM-quoted leading B2B media business
specialising in three key areas: Business Information,
Live Events and Data & 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.
The Company has announced that it has entered
into a conditional agreement to acquire the
trade and assets of InvestmentNews, a market
leading Business Information and Data & Insight
brand supporting the US financial adviser and
wealth manager community (the "Acquisition").
The Acquisition constitutes a reverse takeover
pursuant to Rule 14 of the AIM Rules for Companies
and, as such, is subject to shareholders' approval
at a general meeting.
The Company's existing main country of operation
is the UK and following completion of the proposed
reverse takeover, the US will also be a country
of significant operations for the Company.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING
ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES
(i.e. where known, number and type of shares,
nominal value and issue price to which it seeks
admission and the number and type to be held
as treasury shares):
------------------------------------------------------------
29,098,437 new ordinary shares of nominal value
of 1p each in the Company ("New Ordinary Shares")
at an issue price of 80 pence per New Ordinary
Share. This will follow a proposed 1 for 40
share reorganisation, which will result in an
issued ordinary share capital of 4,301,541 ordinary
shares of nominal value of 1p each in the Company
immediately prior to the issuance of the New
Ordinary Shares.
There will be no restrictions as to the transfer
of the New Ordinary Shares and no New Ordinary
Shares will be held in treasury.
------------------------------------------------------------
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY
OFFERING) AND ANTICIPATED MARKET CAPITALISATION
ON ADMISSION:
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Capital to be raised on admission: GBP18.6 million
(before expenses)
Anticipated market capitalisation on admission:
GBP26.7 million
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS
AT ADMISSION:
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37.0 per cent.
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM
TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES
OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
------------------------------------------------------------
None
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED
DIRECTORS (underlining the first name by which
each is known or including any other name by
which each is known):
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There are no new proposed directors as a result
of the Acquisition. The Directors of the Company
will remain as follows:
Nileshbhai (Neil) Jayantilal Sachdev - Non-Executive
Director
Simon Leslie Stilwell - Chief Executive Officer
David Anthony Brown - Group Finance Director
Nicola (Niki) Jane Dowdall - MD-Events and Marketing
Anne Elizabeth Donoghue - Non-Executive Director
Fraser James Gray - Non-Executive Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS
EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE
CAPITAL, BEFORE AND AFTER ADMISSION (underlining
the first name by which each is known or including
any other name by which each is known):
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Before Admission:
Shareholder Shares %
------------------------------ ----------- ------
Anthony Cross 32,000,000 18.60
------------------------------ ----------- ------
Simon Stilwell 17,500,000 10.17
------------------------------ ----------- ------
David & Monique Newlands 13,500,000 7.85
------------------------------ ----------- ------
City Financial Investment
Company Limited 13,313,200 7.74
------------------------------ ----------- ------
Herald Investment Management
Limited 13,089,631 7.61
------------------------------ ----------- ------
Killik & Co LLP 10,982,279 6.38
------------------------------ ----------- ------
Peter James Tracey 10,000,000 5.81
------------------------------ ----------- ------
Christopher John Ingram 8,387,597 4.87
------------------------------ ----------- ------
David Smith 7,368,421 4.28
------------------------------ ----------- ------
After Admission:
Shareholder Shares %
------------------------------ ---------- ------
Crain Communications,
Inc. 3,815,338 11.42
------------------------------ ---------- ------
Unicorn Asset Management
Limited 3,790,000 11.35
------------------------------ ---------- ------
Schroders Investment
Management Limited 3,750,000 11.23
------------------------------ ---------- ------
Herald Investment Management
Limited 3,302,240 9.89
------------------------------ ---------- ------
Downing LLP 3,236,250 9.69
------------------------------ ---------- ------
Legal & General Investment
Management Limited 3,062,500 9.17
------------------------------ ---------- ------
Anthony Cross 1,612,500 4.83
------------------------------ ---------- ------
Peter James Tracey 1,125,000 3.37
------------------------------ ---------- ------
David & Monique Newlands 1,087,500 3.26
------------------------------ ---------- ------
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE
WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
------------------------------------------------------------
The Company will pay fees to its remuneration
consultants, h2glenfern Limited and MM&K relating
to advice and assistance connected to the establishment
of a new share option scheme.
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION
IN THE ADMISSION DOCUMENT HAS BEEN PREPARED
(this may be represented by unaudited interim
financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST
THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
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i) Current accounting reference date is 31 March.
To be changed to 31 December following admission
ii) InvestmentNews' HFI prepared to 31 December
2017, 31 December 2016 and 31 December 2015
iii) Unaudited interim results for the 6-month
period ending 30 September 2018 to be published
by 31 December 2018; audited results for the
9 months ending 31 December 2018 to be published
by 30 June 2019; and unaudited results for the
6 months ending 30 June 2019 to be published
by 30 September 2019.
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EXPECTED ADMISSION DATE:
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17 August 2018
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Stockdale Securities Limited
100 Wood Street
London
EC2V 7AN
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NAME AND ADDRESS OF BROKER:
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Stockdale Securities Limited
100 Wood Street
London
EC2V 7AN
And
Canaccord Genuity Limited
88 Wood Street
London
EC2V 7QR
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT,
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS)
THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM,
WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION
OF ITS SECURITIES:
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The Admission Document is available at www.vitessemedia.com
(or www.bonhillplc.com from admission).
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THE CORPORATE GOVERNANCE CODE THE APPLICANT
HAS DECIDED TO APPLY
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The Board has chosen to adopt the QCA Corporate
Governance Code.
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DATE OF NOTIFICATION:
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6 August 2018
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NEW / UPDATE
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NEW
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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
PAAQQLFBVVFFBBB
(END) Dow Jones Newswires
August 06, 2018 12:30 ET (16:30 GMT)
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