TIDMGROW
RNS Number : 7185B
Draper Esprit PLC
14 June 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, CANANDA OR JAPAN.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF MARKET ABUSE REGULATION (EU)
596/2014 WHICH IS PART OF UK 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 DRAPER ESPRIT 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)
14 June 2021
Draper Esprit plc
(" Draper Esprit " or the " Company " )
PrimaryBid Offer
Draper Esprit ( AIM : GROW, Euronext Growth: GRO ), a leading
venture capital firm investing in some of Europe's fastest growing
private technology companies, is pleased to announce a conditional
offer for subscription via PrimaryBid (the "PrimaryBid Offer") of
up to 603,500 new ordinary shares of 1 pence each in the Company
("PrimaryBid Shares") at an issue price of 800 pence per PrimaryBid
Share (the "Placing Price"), being a discount of 4.6 per cent to
the closing mid-price on 11 June 2021. The Company is also
conducting a placing of new ordinary shares at the Placing Price by
way of an accelerated bookbuild process (the "Placing") as
announced earlier 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 and the Euronext
Growth Market ("Admission"). Admission is expected to be take place
at 8.00 a.m. on 16 June 2021 . The PrimaryBid Offer will not be
completed without the Placing also being completed.
The Company will use the funds raised to:
Direct follow
on and new * Direct follow-on opportunities which Draper Esprit
deal flow has already identified within its core portfolio and
emerging companies as well as new deal flow
Larger rounds
* As European technology companies continue to mirror
US investment trends, Draper Esprit wants to be able
to lead more often in larger rounds as a result of
its strong balance sheet and co-investment structure
Fund of Funds
programme * Draper Esprit will continue to support seed funds
within the existing portfolio and identify other
strong seed fund teams to back across Europe
* This allows the Company to identify potential
deal-flow opportunities from within its seed stage
portfolio
The Company is a shareholder in PrimaryBid.
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors in the UK with the
opportunity to participate in the PrimaryBid Offer by applying
exclusively through 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 mobile app, will be
open to individual and institutional investors in the UK following
the release of this announcement. The PrimaryBid Offer is expected
to close no later than 12.00 noon on 14 June 2021 . The PrimaryBid
Offer may close early if it is oversubscribed.
The Company 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 PrimaryBid 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 PrimaryBid Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
It is a term of the PrimaryBid Offer that the total value of the
PrimaryBid Shares available for subscription at the Placing Price
does not exceed the Sterling equivalent of EUR8 million.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com.
The PrimaryBid 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.
Draper Esprit plc
Martin Davis (Chief Executive Officer) +44 (0)20 7931
Ben Wilkinson (Chief Financial Officer) 8800
PrimaryBid Limited enquiries@primarybid.com
F ahim Chowdhury / James Deal
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 in the UK the
opportunity to participate in the PrimaryBid Offer. The Company is
therefore making the PrimaryBid Offer available in the UK
exclusively through the PrimaryBid mobile app.
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Rules, or for approval of the same by the Financial
Conduct Authority. The PrimaryBid Offer is not being made into any
jurisdiction other than the United Kingdom.
There is a minimum subscription of GBP250 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors in the UK subscribing via the
PrimaryBid mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the
PrimaryBid Offer is made, including the procedure for application
and payment for PrimaryBid Shares, is available to all persons in
the UK who register with PrimaryBid.
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 PrimaryBid 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 PrimaryBid Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the PrimaryBid Shares
if they are in any doubt.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale in the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States
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END
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June 14, 2021 02:02 ET (06:02 GMT)
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