TIDMZEG

RNS Number : 2000Q

Zegona Communications PLC

26 October 2021

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ("Zegona")

LEI: 213800ASI1VZL2ED4S65

26 October 2021

Management Subscription

On 15 October 2021, Zegona announced that its management team had subscribed for 1,734,451 new ordinary shares, or 28.1% of Zegona's share capital at the adjusted Net Asset Value per share of GBP1.44 [1] . As previously announced, this subscription was contingent on the admission to trading ("Admission") of these shares by the Financial Conduct Authority ("FCA") and it was not expected that the company would be required to issue a prospectus for Admission.

Zegona has now been informed that Admission at this time is limited to a maximum of 20% of its shares in issue post its tender offer. Zegona has therefore issued 887,594 ordinary shares conditional upon Admission (the "Initial Issue") with the remaining 846,857 shares to be issued the next time Zegona prepares a prospectus (the "Subsequent Issue") [2] .

Immediately following the Initial Issue, the board and management will hold 17.9% of Zegona's shares.

Admission of the Initial Issue ordinary shares is expected to occur at 8 a.m. on 27 October 2021 and Zegona's total voting rights will then total 5,325,567.

Enquiries

Tavistock (Public Relations adviser - UK)

Tel: +44 (0)20 7920 3150

Lulu Bridges - lulu.bridges@tavistock.co.uk

[1] The adjusted Net Asset Value per share of Zegona on 14 October 2021 of GBP1.438 was calculated, with no provisions being made for any potential value being received from the non-current tax receivable (as disclosed in Zegona's accounts for six months ended June 30, 2021) and no provisions for the termination costs of any contracts or other future potential liabilities.

[2] The Subsequent Issue will be at the same GBP1.438 price as the Initial Issue. Management have already paid the full consideration to Zegona. The lock-in period on the Subsequent Issue commenced on the date of payment.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCPPGQAUUPGGRA

(END) Dow Jones Newswires

October 26, 2021 02:00 ET (06:00 GMT)

Zegona Communications (LSE:ZEG)
Gráfica de Acción Histórica
De May 2022 a Jun 2022 Haga Click aquí para más Gráficas Zegona Communications.
Zegona Communications (LSE:ZEG)
Gráfica de Acción Histórica
De Jun 2021 a Jun 2022 Haga Click aquí para más Gráficas Zegona Communications.