Results of Secondary Placing

RNS Number : 2171C

MITIE Group PLC

17 June 2021

 

17 June 2021

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

Mitie Group plc (the "Company")

Further to the announcement by Project County SPV1 Designated Activity Company of the successful sale of 99,378,882 ordinary shares in Mitie Group plc, which represents 7% of the Company's issued share capital, the Company confirms that it has agreed to the release of such shares from the lock-up arrangements entered at the time of the acquisition of Interserve Facilities Management.

How Group has now sold all its remaining holding in the Company's issued share capital.  The shares were previously subject to share box escrow arrangements, which were put in place at completion of the acquisition of Interserve Facilities Management to provide the Company with security for a two-year period following completion against any indemnity claims, including any ICO fine which might arise out of the cyber incident to which, inter alia, Interserve Facilities Management was subject in 2020.  £40m of the proceeds of the How Group share sale have now been used to replace the shares held in escrow (as security against any indemnity claims as described above).

The Company was not party to the placing and will not receive any proceeds from the placing.

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For further information, contact: Claire Lovegrove Head of Media Relations	M: [phone]		E: [e-mail]
Fiona Lawrence Group IR Director	M: [phone]			E: [e-mail]
Peter Dickinson Chief of Staff and General Counsel	M: [phone]	E: [e-mail]

 

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