Result of Placing

RNS Number : 0851U

Xpediator PLC

10 July 2018

 

 

10 July 2018

Xpediator Plc

("Xpediator" or the "Group")

Result of Placing

Xpediator, (AIM: XPD) a leading provider of freight management services across the UK and Europe, is pleased to announce that further to the announcement released at 7:00am this morning, the Company has successfully raised £7.0 million (before expenses) by way of a placing of 10,000,000 new ordinary shares of 5 pence each in the Company ("Placing Shares") at 70 pence each (the "Placing"). The Placing Shares will represent approximately 7.7% of the Enlarged Share Capital on Admission.  

SP Angel Corporate Finance LLP ("SP Angel") and Cantor Fitzgerald Europe ("Cantor") acted as placing agents to the Company in connection with the Placing.

Details of the Placing

Application has been made for the Placing Shares, which will rank pari passu with the existing ordinary shares of 5p each in the Company ("Ordinary Shares"), to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will occur on 11 July 2018.

Stephen Blyth, Chief Executive of Xpediator, commented:

"We are very pleased to announce a significantly oversubscribed Placing from both new and existing investors and we are excited by the opportunities we have in front of us. There is no doubt that wider macro factors and consumer trends are supporting an increased demand for logistics services across our markets but we are also benefitting from the success of our acquisition strategy. The new funds raised today will support the acquisition of Import Services Limited, our fourth acquisition in the last 12 months and we expect it will have a similarly positive impact on our financial performance as well as significantly increasing our sea freight capabilities."

Voting Rights

Following the issue of the Placing Shares, the total issued share capital of the Company will comprise 129,158,838 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 129,158,838 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

Enquiries:

Xpediator plc	Tel: [phone]
Stephen Blyth, Chief Executive Officer	Email: [e-mail]
Richard Myson, Chief Financial Officer
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)	Tel: [phone]
Jeff Keating, Caroline Rowe
Richard Parlons, Jonathan Williams (Sales)
Cantor Fitzgerald Europe (Sole Book Runner and Joint Broker)	Tel: [phone]
David Foreman, Michael Boot (Corporate Finance)
Alex Pollen, Caspar Shand Kydd (Sales)
Novella Communications (Financial Public Relations)	Tel: [phone]
Tim Robertson
Toby Andrews

For more information, please visit: www.xpediator.com

Notes

FORWARD LOOKING STATEMENTS

To the extent that this Announcement contains certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance, a number of risks and uncertainties exist. The Company cautions readers that any forward-looking statement is no guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements.

A forward-looking statement can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "predict" or other words of similar meaning. Examples of forward-looking statements include, amongst others, statements regarding or which  make assumptions in respect of the planned use of the proceeds of the Placing, the liquidity position of the Company, the future performance of the Company, future foreign exchange rates, interest rates and currency controls, the future political and fiscal regimes in the overseas markets in which the Company operates, the Company's future financial position, plans and objectives for future operations and any other statements that are not historical fact.

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market related risks such as changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards ("IFRS") applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements.

Any forward-looking statement made in this Announcement by or on behalf of the Company speak only as of the date they are made. These forward-looking statements reflect the Company's judgement at the date of this Announcement and are not intended to give any assurance as to future results. Except as required by the FCA, the London Stock Exchange, the AIM Rules or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

 

END

 

 

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