Result of EGM and Issue of Equity

RNS Number : 6556W

Duke Royalty Limited

02 August 2018

 

2 August 2018

Duke Royalty Limited

("Duke Royalty" or the "Company")

Result of EGM and Issue of Equity

Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-standing businesses in Europe and abroad, is pleased to announce that at the Extraordinary General Meeting of the Company held earlier today, the resolution as set out in the notice of Extraordinary General Meeting dated 16 July 2018 ("Resolution") was duly passed by Shareholders.

Accordingly, pursuant to the £44 million fundraising announced on 13 July 2018 ("Fundraising") and further to the above mentioned passing of the Resolution, the Company is issuing 100,000,000 new Duke Royalty ordinary shares of no par value ("Ordinary Shares") to new and existing institutional investors at a price of 44 pence per share (the "Issue Price"). The net proceeds of the Fundraising of approximately £42 million will allow the Company to continue to finance its diversified pipeline of royalty financing opportunities.

Admission and dealings

Application has been made for the admission to trading on AIM of the 101,025,000 Ordinary Shares being issued pursuant to the fundraising and LTIP shares with admission expected to take place at 8.00 a.m. on 3 August 2018 ("Admission")

Total Voting Rights

Following Admission, the Company will have a total of 197,902,459 Ordinary Shares in issue carrying voting rights.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Directors' participation in the Fundraising

As announced on 13 July 2018, three of the Company's directors, Neil Johnson, Charles Cannon-Brookes and Nigel Birrell subscribed for Ordinary Shares in the Fundraising.

Further information about their aquisition of Ordinary Shares is set out in the announcement of 13 July 2018 and provided in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Johnson
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares
	Identification code	GG00BYZSSY63
b)	Nature of the transaction	Purchase of placing shares  pursuant to the fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			44p	300,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 August 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Charles Cannon-Brookes
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares
	Identification code	GG00BYZSSY63
b)	Nature of the transaction	Purchase of placing shares  pursuant to the fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			44p	300,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 August 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nigel Birrell
2	Reason for the notification
a)	Position/status	Non-Executive Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares
	Identification code	GG00BYZSSY63
b)	Nature of the transaction	Purchase of placing shares  pursuant to the fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			44p	150,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 August 2018
f)	Place of the transaction	Outside a trading venue

For further information, please contact:

Duke Royalty Limited	Neil Johnson/Charlie Cannon-Brookes	[phone]
Grant Thornton UK LLP (Nominated Adviser)	Colin Aaronson/Samantha Harrison/Seamus Fricker	[phone]
Mirabaud Securities Limited (Joint Broker)	Peter Krens/Edward Haig-Thomas	[phone]
Redleaf Communications (PR)	Elisabeth Cowell/Robin Tozer/Ian Silvera	[phone]

About Duke Royalty

Headquartered in Guernsey, Duke Royalty Limited provides alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business.  Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders.

Duke Royalty is listed on the AIM market under the ticker DUKE. For more information, visit www.dukeroyalty.com

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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