Result of Broker Option

RNS Number : 6525A

Mattioli Woods PLC

03 June 2021

 

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, NEW ZEALAND, THE REPUBLIC OR IRELAND, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.  

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. 

3 June 2021

Mattioli Woods plc

("Mattioli Woods", "the Company" or "the Group")

Result of Broker Option

Mattioli Woods plc (AIM: MTW.L), the specialist wealth and asset management business, is pleased to announce that further to the announcement of the Proposed Acquisitions and Proposed Fundraise on 26 May 2021, the Broker Option has been fully exercised in respect of 303,030 new Ordinary Shares (the "Broker Option Shares"), conditionally raising additional gross proceeds of £2.0 million for the Company.

The Broker Option Shares will be issued at a price of 660 pence per new Ordinary Share (being the Issue Price) and on the same terms and conditions as the Conditional Placing Shares.

The issue of the Broker Option Shares, together with the Conditional Placing Shares and the PrimaryBid Offer Shares, is conditional on, inter alia, the passing of the Resolutions at the General Meeting, which has been convened for 11.00 a.m. on 16 June 2021.

With the exercise of the Broker Option in full, and subject to the passing of the Resolutions at the General Meeting and the admission of the Conditional Placing Shares, PrimaryBid Shares and the Broker Option Shares to trading on AIM, together with the Firm Placing which has taken place, this results in a total gross Fundraise of £112.0 million for the Company; comprising the Firm Placing raising £18.5 million, the Conditional Placing raising £90.8 million, the PrimaryBid Offer raising £0.7 million and the Broker Option raising £2.0 million.

Admission and dealings

Application will be made to the London Stock Exchange for the 303,030 Broker Option Shares, along with the 13,757,512 Conditional Placing Shares and the 108,355 PrimaryBid Offer Shares, to be admitted to trading on AIM (the "Conditional Application"). Admission of the Conditional Placing Shares, the Broker Option Shares and the PrimaryBid Offer Shares is expected to become effective in accordance with the AIM Rules (the "Second Admission") and dealings in such shares are expected to commence at 8.00 a.m. on or around 17 June 2021. In any event, the latest date for the Second Admission is 30 June 2021. The Second Admission is conditional upon, inter alia, the passing of the Resolutions at the General Meeting.

The new Ordinary Shares to be issued in connection with the Conditional Placing, the Broker Option and the PrimaryBid Offer will, when issued, rank pari passu with the existing Ordinary Shares, including the right to receive future dividends.

Total Voting Rights

Following the Second Admission, and as a result of the Broker Option being fully exercised, the total number of Ordinary Shares in the Company with voting rights is expected to be 45,220,756.

Following the admission of the Maven Consideration Shares (4,545,455 new Ordinary Shares) and the Ludlow Wealth Management Consideration Shares (780,250 new Ordinary Shares) to trading on AIM and following the occurrence of both of the completion of the acquisition of Maven and the completion of the acquisition of Ludlow Wealth Management, the total number of Ordinary Shares in the Company with voting rights is expected to be 50,546,461 (assuming no other issuance of shares, for example following the exercise of options under the Company's share option schemes).

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcements dated 26 May 2021 regarding the Proposed Acquisitions and Proposed Fundraise unless otherwise stated.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for making this announcement is Ravi Tara, Chief Financial Officer.

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For further information please contact:

Mattioli Woods plc
Ian Mattioli MBE, Chief Executive Officer
Ravi Tara, Chief Financial Officer Michael Wright, Group Managing Director	Tel: [phone] www.mattioliwoods.com
Canaccord Genuity Limited (Nominated Advisor, Joint Bookrunner and Joint Broker)
Emma Gabriel Sam Lucas		Tel: [phone]
Tom Diehl		www.canaccordgenuity.com
N+1 Singer (Joint Bookrunner and Joint Broker)
Justin McKeegan
Tom Salvesen	Tel: [phone]
Iqra Amin	www.n1singer.com

Media enquiries:

Camarco
Ed Gascoigne-Pees	Tel: [phone]
Julia Tilley	www.camarco.com

 

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