TIDMESKN
RNS Number : 7264G
Esken Limited
28 July 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, THE PEOPLE'S
REPUBLIC OF CHINA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR
REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE OF THIS
ANNOUNCEMENT.
THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A
PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NEITHER THIS
ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF,
OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT
WHATSOEVER IN ANY JURISDICTION. ANY DECISION TO PURCHASE, SUBSCRIBE
FOR, OTHERWISE ACQUIRE, SELL OR OTHERWISE DISPOSE OF ANY SECURITIES
REFERRED TO IN THIS ANNOUNCEMENT MUST BE MADE SOLELY ON THE BASIS
OF THE INFORMATION THAT IS CONTAINED IN AND INCORPORATED BY
REFERENCE INTO THE PROSPECTUS TO BE PUBLISHED BY THE COMPANY IN DUE
COURSE.
28 July 2021
ESKEN LIMITED
("Esken", the "Company" or the "Group")
COMPLETION OF BOOKBUILDING PROCESS
Following the announcement on 27 July 2021 of the Capital Raise,
the Company announces the successful completion of the bookbuilding
process for the Firm Placing and conditional Placing of Open Offer
Shares, which has now closed, and subject to the conditions set out
below, will raise gross proceeds of GBP55 million at a price of 14
pence per New Share (the "Offer Price").
David Shearer, Executive Chairman of Esken, said today:
"We are delighted to have received support from both our
existing shareholders and new investors for this equity raise. Over
the last year, despite the significant impact of the pandemic, we
have refocused the group on its core businesses of Stobart Energy
and London Southend Airport. The combination of this equity raise
and the strategic funding partnership with Carlyle Group gives us a
strong platform to rebuild value for shareholders as we recover
into a post COVID-19 world. I would like to thank our shareholders
for their continuing support, and to welcome our new
shareholders"
This announcement contains inside information for the purposes
of UK MAR. The person who arranged the release of this announcement
on behalf of Esken was Matthew Joy, Company Secretary.
Capitalised terms not otherwise defined in this announcement
have the meanings given to them in the announcement made by the
Company of the Firm Placing, Placing and Open Offer.
For further information, please contact:
Esken Limited C/O Tulchan Communications
Charlie Geller, Communications Director
Canaccord Genuity Limited (Joint Sponsor,
Joint Bookrunner and Joint Global Co-ordinator) +44 20 7523 8000
Adam James / Andrew Potts / Patrick
Dolaghan
Sam Lucas
UBS AG London Branch (Joint Sponsor,
Joint Bookrunner and Joint Global Co-ordinator) +44 207 567 8000
David James / Peter Mackie
Alex Bloch / Tom Snowball
Tulchan Communications +44 207 353 4200
Olivia Peters / David Allchurch esken@tulchangroup.com
Important notices
This announcement including the appendices and the information
contained in it has been issued by and is the sole responsibility
of the Company. The information contained in this announcement is
for information purposes only and does not purport to be full or
complete. No reliance may or should be placed by any person for any
purpose whatsoever on the information contained in this
announcement or on its accuracy or completeness. The information in
this announcement is subject to change.
This announcement is not a prospectus but an advertisement.
Neither this announcement nor anything contained in it shall form
the basis of, or be relied upon in conjunction with, any offer or
commitment whatsoever in any jurisdiction. Investors should not
acquire any Shares referred to in this announcement except on the
basis of the information contained in the Prospectus to be
published by the Company in connection with the Transaction.
Copies of the Prospectus when published will be available on the
Company's website at www.esken.com. Neither the content of the
Company's website nor any website accessible by hyperlinks on the
Company's website is incorporated in, or forms part of, this
announcement. The Prospectus will provide further details of the
New Shares being offered pursuant to the Capital Raise.
This announcement does not contain or constitute an offer for
sale or the solicitation of an offer to purchase securities in the
United States. The New Shares, Open Offer Entitlements and Excess
Open Offer Entitlements have not been and will not be registered
under the US Securities Act of 1933, as amended (the "Securities
Act") or under any securities laws of any state or other
jurisdiction of the United States and may not be offered, sold,
taken up, exercised, resold, renounced, transferred or delivered,
directly or indirectly, within the United States. There will be no
offer of the New Shares in the United States. None of the New
Shares, Open Offer Entitlements, Excess Open Offer Entitlements,
this announcement or any other document connected with the Capital
Raise has been or will be approved or disapproved by the United
States Securities and Exchange Commission or by the securities
commissions of any state or other jurisdiction of the United States
or any US regulatory authority, nor have any of the foregoing
authorities has passed upon or endorsed the merits of the offering
of the New Shares, Open Offer Entitlements, or Excess Open Offer
Entitlements or the accuracy or adequacy of this announcement or
any other document connected with the Capital Raise. Any
representation to the contrary is a criminal offence in the United
States.
This announcement is for information purposes only and is not
intended to and does not constitute or form part of any offer or
invitation to sell, allot or issue, or any offer or invitation to
purchase or subscribe for, New Shares, or to take up any
entitlements to New Shares, in any jurisdiction or any solicitation
to purchase or subscribe for, any securities in the United States,
Australia, Canada, Hong Kong, Japan, the People's Republic of China
or the Republic of South Africa (the "Excluded Territories") or in
any jurisdiction to whom or in which such offer or invitation is
unlawful, nor does the fact of its distribution form the basis of,
or be relied upon in connection with, or act as any inducement to
enter into, any contract or commitment whatsoever with respect to
such securities, the Company or otherwise.
The distribution of this announcement into jurisdictions other
than the United Kingdom may be restricted by law, and, therefore,
persons into whose possession this announcement comes should inform
themselves about and observe any such restrictions. Any failure to
comply with any such restrictions may constitute a violation of the
securities laws of such jurisdiction. In particular, this
announcement, the Prospectus (once published) and the Application
Forms (once printed) should not be distributed, forwarded to or
transmitted in or into any Excluded Territory.
The New Shares may not be offered or sold in Hong Kong, by means
of any document, other than (i) to "professional investors" as
defined in the Securities and Futures Ordinance (Cap.571, Laws of
Hong Kong) of Hong Kong (the "SFO") and any rules made under the
SFO; or (ii) in other circumstances which do not constitute an
offer to the public within the meaning of the Companies (Winding up
and Miscellaneous Provisions) Ordinance (Cap.32, Laws of Hong Kong)
of Hong Kong (the "C(WUMP)O") or an invitation to induce an offer
by the public to subscribe for or purchase any shares and which do
not result in this document being a "prospectus" as defined in the
C(WUMP)O. No advertisement, invitation or document relating to the
New Shares or this document may be issued or may be in the
possession of any person for the purpose of issue, whether in Hong
Kong or elsewhere, which is directed at, or the contents of which
are likely to be accessed or read by, the public of Hong Kong
(except if permitted to do so under the C(WUMP)O and the SFO) other
than with respect to the New Shares which are or are intended to be
disposed of only to persons outside Hong Kong or only to
"professional investors" as defined in the SFO and any rules made
under the SFO or in other circumstances which do not constitute an
offer or invitation to the public within the meaning of the
C(WUMP)O. The contents of this document have not been reviewed by
any regulatory authority in Hong Kong. You are advised to exercise
caution in relation to the offer. If you are in any doubt about any
of the contents of this document you should obtain independent
professional advice.
Recipients of this announcement and/or the Prospectus should
conduct their own investigation, evaluation and analysis of the
business, data and property described in this announcement and/or
if and when published the Prospectus. This announcement does not
constitute a recommendation concerning any investor's options with
respect to the Capital Raise. The price and value of securities can
go down as well as up. Past performance is not a guide to future
performance. The contents of this announcement are not to be
construed as legal, business, financial or tax advice. Each
Shareholder or prospective investor should consult his, her or its
own legal adviser, business adviser, financial adviser or tax
adviser for legal, financial, business or tax advice.
Notice to all investors
Canaccord Genuity Limited ("Canaccord") is authorised and
regulated by the Financial Conduct Authority ("FCA") in the United
Kingdom. UBS AG London Branch ("UBS" and together with Canaccord,
the "Joint Bookrunners") is authorised and regulated by the
Financial Market Supervisory Authority in Switzerland, and it is
authorised by the Prudential Regulation Authority ("PRA") and
subject to regulation by the FCA and limited regulation by the PRA
in the United Kingdom.
Canaccord and UBS are each acting exclusively for the Company
and no one else in connection with the Capital Raise or any other
matter referred to in this announcement and will not be responsible
to anyone other than the Company for providing the protections
afforded to their respective clients or for providing advice in
connection with the Capital Raise and/or any other matter referred
to in this announcement.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by the Joint Bookrunners or by any of their
respective affiliates or agents (or any of their respective
directors, officers, employees or advisers) for the contents of the
information contained in this announcement, or any other written or
oral information made available to or publicly available to any
interested party or its advisers, or any other statement made or
purported to be made by or on behalf of either Joint Bookrunner or
any of their respective affiliates in connection with the Company,
the New Shares or the Capital Raise and any responsibility therefor
is expressly disclaimed. The Joint Bookrunners and each of their
respective affiliates accordingly disclaim all and any liability,
whether arising in tort, contract or in respect of any statements
or other information contained in this announcement and no
representation or warranty, express or implied, is made by either
Joint Bookrunner or any of their respective affiliates as to the
accuracy, completeness or sufficiency of the information contained
in this announcement.
No person has been authorised to give any information or to make
any representations other than those contained in this
announcement, the Prospectus and the Application Forms, and, if
given or made, such information or representations must not be
relied on as having been authorised by the Company or Canaccord and
UBS.
In connection with the Capital Raise, the Joint Bookrunners may
release communications to the market as to the extent to which the
book is "covered". A communication that a transaction is, or that
the books are, "covered" refers to the position of the order book
at that time. It is not an assurance that the books will remain
covered, that the transaction will take place on any terms
indicated or at all, or that if the transaction does take place,
the securities will be fully distributed by the Joint
Bookrunners.
In connection with the Capital Raise, each of their Joint
Bookrunners and any of their respective affiliates, acting as
investors for their own accounts, may take up a portion of the
shares in the Capital Raise as a principal position and in that
capacity may retain, purchase, sell, offer to sell for their own
accounts such shares and other securities of the Company or related
investments in connection with the Capital Raise or otherwise.
Accordingly, references in the Prospectus to the Shares being
issued, offered, subscribed, acquired, placed or otherwise dealt in
should be read as including any issue or offer to, or subscription,
acquisition, placing or dealing by, the Joint Bookrunners and any
of their respective affiliates acting as investors for their own
accounts. Except as required by applicable law or regulation, the
Joint Bookrunners do not propose to make any public disclosure in
relation to such transactions.
Cautionary statement regarding forward-looking statements
This announcement contains forward-looking statements, including
with respect to financial information, that are based on current
expectations or beliefs, as well as assumptions about future
events. These forward-looking statements can be identified by the
fact that they do not relate only to historical or current facts.
Forward-looking statements often use words such as "anticipate",
"target", "expect", "estimate", "intend", "plan", "goal",
"believe", "will", "may", "should", "would", "could", "is
confident", or other words of similar meaning. Undue reliance
should not be placed on any such statements because they speak only
as at the date of this announcement and, by their very nature, they
are subject to known and unknown risks and uncertainties and can be
affected by other factors that could cause actual results, and the
Company's plans and objectives, to differ materially from those
expressed or implied in the forward-looking statements. No
representation or warranty is made that any forward-looking
statement will come to pass.
You are advised to read the Prospectus when published and the
information incorporated by reference therein in their entirety,
and, in particular, the section of the Prospectus headed "Risk
Factors", for a further discussion of the factors that could affect
the Group's future performance and the industry in which it
operates. In light of these risks, uncertainties and assumptions,
the events described in the forward-looking statements, including
statements regarding prospective financial information, in this
announcement may not occur. These statements are not fact and
should not be relied upon as being necessarily indicative of future
results, and readers of this announcement are cautioned not to
place undue reliance on the forward-looking statements, including
those regarding prospective financial information.
No statement in this announcement is intended as a profit
forecast, and no statement in this announcement should be
interpreted to mean that underlying operating profit for the
current or future financial years would necessarily be above a
minimum level, or match or exceed the historical published
operating profit or set a minimum level of operating profit.
Neither the Company nor Canaccord nor UBS are under any
obligation to update or revise publicly any forward-looking
statement contained within this announcement, whether as a result
of new information, future events or otherwise, other than in
accordance with their legal or regulatory obligations (including,
for the avoidance of doubt, the Prospectus Regulation Rules, the
Listing Rules and the Disclosure Guidance and Transparency Rules).
Subject to the Prospectus Regulation Rules, the Listing Rules and
the Disclosure Guidance and Transparency Rules, the issue of this
announcement shall not, in any circumstances, create any
implication that there has been no change in the affairs of the
Company since the date of this announcement or that the information
in it is correct as at any subsequent date.
Information to Distributors
Solely for the purposes of the product governance requirements
contained in Chapter 3 of the FCA Handbook Product Intervention and
Product Governance Sourcebook (together, the "UK Product Governance
Requirements"), and disclaiming all and any liability, whether
arising in tort, contract or otherwise, which any "manufacturer"
(for the purposes of the UK Product Governance Requirements) may
otherwise have with respect thereto, the New Shares have been
subject to a product approval process, which has determined that
such securities are: (i) compatible with an end target market of
retail investors and investors who meet the criteria of
professional clients and eligible counterparties, each as defined
in paragraph 3 of the FCA Handbook Conduct of Business Sourcebook;
and (ii) eligible for distribution through all permitted
distribution channels (the "Target Market Assessment").
Notwithstanding the Target Market Assessment, distributors should
note that: the price of the New Shares may decline and investors
could lose all or part of their investment; the New Shares offer no
guaranteed income and no capital protection; and an investment in
the New Shares is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in
conjunction with an appropriate financial or other adviser) are
capable of evaluating the merits and risks of such an investment
and who have sufficient resources to be able to bear any losses
that may result therefrom. The Target Market Assessment is without
prejudice to the requirements of any contractual, legal or
regulatory selling restrictions in relation to the Capital Raise.
Furthermore, it is noted that, notwithstanding the Target Market
Assessment, the Joint Bookrunners will only procure investors who
meet the criteria of professional clients and eligible
counterparties.
For the avoidance of doubt, the Target Market Assessment does
not constitute: (a) an assessment of suitability or appropriateness
for the purposes of Chapter 9A or 10A respectively of the FCA
Handbook Conduct of Business Sourcebook; or (b) a recommendation to
any investor or group of investors to invest in, or purchase, or
take any other action whatsoever with respect to the New
Shares.
Each distributor is responsible for undertaking its own target
market assessment in respect of the New Shares and determining
appropriate distribution channels.
ESKEN LIMITED
COMPLETION OF THE BOOKBUILDING PROCESS
1. Introduction
Following the announcement on 27 July 2021 of the Capital Raise,
the Company announces the successful completion of the bookbuilding
process for the Firm Placing and conditional Placing of Open Offer
Shares, which has now closed, and subject to the conditions set out
below, will raise gross proceeds of GBP55 million at a price of 14
pence per New Share (the "Offer Price").
2. Firm Placing
Pursuant to the Firm Placing, the Firm Placees have agreed to
subscribe for 313,991,377 Firm Placed Shares at the Offer
Price.
The Firm Placed Shares will represent approximately 30.6 per
cent. of the Company's issued ordinary share capital immediately
following Admission.
3. Placing and Open Offer
In addition, pursuant to the Placing and Open Offer, the Joint
Bookrunners have placed 78,865,765 Open Offer Shares at the Offer
Price with the Conditional Placees, subject to clawback to satisfy
valid applications by Qualifying Shareholders under the Open
Offer.
The Open Offer Shares will represent approximately 7.7 per cent.
of the Company's issued ordinary share capital immediately
following Admission.
Pursuant to the Open Offer, Qualifying Shareholders will be
given the opportunity to apply for the Open Offer Shares at the
Offer Price, on and subject to the terms and conditions of the Open
Offer, pro rata to their holdings of Existing Shares on the Record
Date on the following basis:
1 Open Offer Shares for every 8 Existing Shares
Open Offer Shares will also be made available to Qualifying
Shareholders under the Excess Application Facility.
The Offer Price represents a discount of approximately 37.1 per
cent. to the closing price on 27 July 2021 (being the last closing
price prior to launch of the Capital Raise).
In setting the Offer Price, the Directors have considered the
process by which the New Shares need to be offered to investors to
ensure the success of the Placing and Open Offer and Firm Placing
and raise a significant level of equity compared to the market
capitalisation of the Company. The Directors believe that both the
Offer Price and the discount are appropriate.
The Company expects to publish a Prospectus, setting out full
details of the Open Offer and incorporating a Notice of General
Meeting, later today. Shareholders should read the Prospectus in
full before making any application for Open Offer Shares and/or
Excess Open Offer Shares.
The Firm Placing and the Placing and Open Offer are conditional,
inter alia, upon:
(a) the Resolutions being passed by Shareholders at the General Meeting;
(b) the Placing Agreement having become unconditional in all
respects and not having been terminated by the Joint Bookrunners in
accordance with its terms prior to Admission; and
(c) Admission becoming effective by not later than 8.00 a.m. on
26 August 2021 (or such later time or date as the Company and the
Joint Bookrunners may agree).
Applications will be made to the FCA for admission of the New
Shares to listing on the premium listing segment of the Official
List of the FCA and to the London Stock Exchange for admission of
the New Shares to trading on its main market for listed securities.
Subject to the conditions above being satisfied, it is expected
that Admission will occur and that dealings for normal settlement
in the New Shares will commence at 8.00 a.m. on 26 August 2021.
The New Shares will be issued credited as fully paid and will
rank pari passu in all respects with the Existing Shares, including
the right to receive all dividends and other distributions
declared, made or paid on the Existing Shares by reference to a
record date on or after Admission.
Net proceeds from the Investment as detailed in the Proposed
Firm Placing and Open Offer announcement dated the 27 July 2021 is
expected to be received on the same say, being 26 August 2021.
4. Director and Senior Management Participation
The Directors and certain senior managers of the Company are
subscribing for an aggregate of 1,725,000 shares by way of direct
subscriptions with the Company and/or taking up Open Offer
Entitlements as shown in the table below.
Ordinary Shares New Shares Open Offer Shares in issue
beneficially held subscribed Entitlement following Admission
for
Number % of issued Number Number Number % of enlarged
ordinary issued
share capital ordinary
at the share capital
date of
this announcement
========== =================== ============ ============= ========== ===============
David Shearer 512,500 0.081 650,224 64,062 1,226,786 0.120
========== =================== ============ ============= ========== ===============
Lewis Girdwood 300,000 0.048 248,214 37,500 585,714 0.057
========== =================== ============ ============= ========== ===============
Nick Dilworth(1) 163,593 0.026 36,694 20,449 220,736 0.022
========== =================== ============ ============= ========== ===============
David Blackwood 169,534 0.027 193,094 21,191 383,820 0.037
========== =================== ============ ============= ========== ===============
John Coombs(2) 170,006 0.027 178,571 - 348,577 0.034
========== =================== ============ ============= ========== ===============
Ginny Pulbrook 17,500 0.003 33,527 2,187 53,214 0.005
========== =================== ============ ============= ========== ===============
Clive Condie 185,000 0.029 119,732 23,125 327,857 0.032
========== =================== ============ ============= ========== ===============
John Cawrey 18,750 0.003 22,657 2,343 43,750 0.004
========== =================== ============ ============= ========== ===============
Angela Smith 5,338 0.001 70,762 667 76,768 0.007
========== =================== ============ ============= ========== ===============
Total 1,542,222 0.244 1,553,476 171,524 3,267,222 0.319
========== =================== ============ ============= ========== ===============
Notes:
(1) Includes 81,795 Shares held by Nick Dilworth's spouse.
(2) Includes 83,439 Shares held by John Coombs' spouse. Whilst
John Coombs is entitled to participate in the Open Offer, he will
invest directly instead
5. Aggregate shares to be issued
Following completion of the bookbuild, 313,991,377 shares have
been placed with Firm Placees and 78,865,765 Open Offer Shares
(including Open Offer Entitlements of the Directors and certain
senior managers of the Company shown in the table at paragraph 4
above) have been placed with Conditional Placees representing a
total of 392,857,142 shares. In addition, the Directors and certain
senior managers of the Company are subscribing directly for
1,553,476 shares as per the table in paragraph 4 above. In
aggregate, 394,410,618 shares will be issued and the total issued
share capital following Admission will therefore be
1,025,336,741.
6. Related Party Transactions
Funds managed by Toscafund Asset Management LLP, the Company's
largest shareholder, hold in aggregate 180,835,223 Existing Shares
(representing 28.66 per cent. of the Company's issued ordinary
share capital as at 23 July 2021 (being the latest practicable date
prior to the publication of this announcement). Toscafund Asset
Management LLP has agreed to acquire up to 102,142,857 New Shares
in the Firm Placing and the Placing (subject to clawback to satisfy
valid applications under the Open Offer), resulting in Toscafund
Asset Management LLP being interested in not more than 27.6 per
cent. of the enlarged issued share capital of the Company
immediately following Admission.
As a consequence of the current interest of Toscafund Asset
Management LLP in the Company, its proposed participation in the
Firm Placing and Placing is a related party transaction for the
purposes of Chapter 11 of the Listing Rules and such transactions
require the prior approval of independent Shareholders. Toscafund
Asset Management LLP is not entitled to vote, and has undertaken to
abstain from voting and to take all reasonable steps to ensure that
its associates will abstain from voting, on the resolution to
approve its own related party transaction at the General
Meeting.
7. Expected Timetable of Principal Events (1 () (2 ()
Record Date for entitlements under the close of business on 26
Open Offer July 2021
Announcement of the Capital Raise 27 July 2021
----------------------------
Ex-entitlement date for the Open Offer 28 July 2021
----------------------------
Publication and posting of the Prospectus 28 July 2021
and the Application Form (to Qualifying
Non-CREST Shareholders only)
----------------------------
Announcement of the results of the Firm 28 July 2021
Placing through a Regulatory Information
Service
----------------------------
Open Offer Entitlements and Excess Open 29 July 2021
Offer Entitlements enabled in CREST and
credited to stock accounts of Qualifying
CREST Shareholders in CREST
----------------------------
Recommended latest time for requesting 4.30 p.m. on 10 August
withdrawal of Open Offer Entitlements and 2021
Excess Open Offer Entitlements from CREST
----------------------------
Latest time and date for depositing Open 3.00 p.m. on 11 August
Offer Entitlements and Excess Open Offer 2021
Entitlements into CREST
----------------------------
Latest time and date for splitting of Application 3.00 p.m. on 12 August
Forms (to satisfy bona fide market claims 2021
only)
----------------------------
Latest time and date for electronic proxy 11.00 a.m. on 13 August
appointments or receipt of form of proxy 2021
----------------------------
Voting Record Time 6.00 p.m. on 13 August
2021
----------------------------
Latest time and date for receipt of completed 11.00 a.m. on 16 August
Application Forms and payment in full under 2021
the Open Offer or settlement of relevant
CREST instructions (as appropriate)
----------------------------
Announcement of the results of the Placing 7.00 a.m. on 17 August
and Open Offer through a Regulatory Information 2021
Service
----------------------------
General Meeting (3 () 11.00 a.m. on 17 August
2021
----------------------------
Results of General Meeting announced through 17 August 2021
a Regulatory Information Service
----------------------------
Admission of, and dealings commence in, 8.00 a.m. on 26 August
the New Shares 2021
----------------------------
CREST members' accounts credited in respect From 8.00 a.m. on 26 August
of New Shares in uncertificated form 2021
----------------------------
Expected dispatch of definitive share certificates Within 14 days of Admission
for New Shares in certificated form
----------------------------
Expected completion of the Transaction 26 August 2021
----------------------------
Draw-stop date 31 August 2021
----------------------------
Notes:
(1) References to times in this announcement are to London time unless otherwise indicated.
(2) The ability to participate in the Placing and Open Offer is
subject to certain restrictions relating to Shareholders with
registered addresses outside the United Kingdom, details of which
are set out in the prospectus expected to be published by the
Company on 28 July 2021.
(3) The Company will hold its Annual General Meeting immediately
prior to the General Meeting. The Annual General Meeting is
expected to have concluded by 11.00 a.m. If the Annual General
Meeting has not concluded by 11.00 a.m. then the General Meeting
will commence immediately after its conclusion. If the Annual
General Meeting concludes before 11.00 a.m. then the General
Meeting will commence at 11.00 a.m.
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END
IOEPPURWMUPGUAR
(END) Dow Jones Newswires
July 28, 2021 02:00 ET (06:00 GMT)
Esken (LSE:ESKN)
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