Result of Placing

RNS Number : 7463Q

Malvern International PLC

21 February 2019

 

For immediate release                                                                                                                  

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Malvern International plc

("Malvern", the "Company" or the "Group") 

Result of the Placing

Further to the accelerated bookbuilding process announced earlier today, Malvern International plc is pleased to announce the results of the Placing. Due to demand, the size of the Placing has been increased to 15,150,000 New Ordinary Shares. The Placing was conducted at a price of 4 pence per New Ordinary Share. The Placing Price represents a discount of 11.1 per cent. to the closing price on 20 February 2019, the last trading day prior to this announcement.  

The gross proceeds of the Placing amounting to £606,000 (before expenses) will be used to provide the Group with additional working capital, as detailed in the Company's earlier announcement today.

Application for admission to trading on AIM for 15,150,000 New Ordinary Shares being issued has been made and Admission is expected to take place on 27 February 2019. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares in issue. The New Ordinary Shares will represent approximately 5.86 per cent. of the Enlarged Issued Share Capital on Admission.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the New Ordinary Shares, its issued ordinary share capital will comprise 258,576,293 Ordinary Shares of 1 pence each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 258,576,293 on Admission. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company

Terms used in this Announcement shall have the meanings given to such terms in the definitions section of the appendix to the announcement made by the Company at 7.00 a.m. this morning.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Enquiries:
Malvern International plc	www.malverninternational.com
Dr Sam Malafeh (Chief Executive Officer) Navin Khattar (Non-Executive Director)	Via Walbrook PR [e-mail]
WH Ireland Limited (Nominated Adviser and Broker)	www.whirelandcb.com
Mike Coe / Chris Savidge (Corporate Finance)	[phone]
Jasper Berry / Adam Pollock (Corporate Broking)	[phone]
Walbrook PR (Financial PR)	[e-mail]
Tom Cooper / Paul McManus	[phone] [phone]

 

END

 

 

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