Result of Equity Issue

RNS Number : 3952W

Journeo PLC

10 December 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.

Journeo plc

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

Result of the Placing

Journeo plc ("Journeo" or the "Company"), is pleased to announce that it has raised gross proceeds of £1.2 million as a result of an oversubscribed Placing that was announced earlier today. Terms and expressions in this announcement will have the same meaning as in that announcement.

A total of 2,400,000 New Ordinary Shares in the Company have been placed by WH Ireland with institutional and other investors at a price of 50 pence per Placing Share ("Placing Price"). The Placing Price represents a discount of 2 per cent. to the closing price on 9 December 2019, the last trading day prior to this announcement. 

Application for admission to trading on AIM for 2,400,000 New Ordinary Shares has been made and Admission is expected to take place on 13 December 2019. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares in issue. The New Ordinary Shares will represent approximately 29.17 per cent. of the Enlarged Issued Share Capital on Admission (assuming no other issuance of ordinary shares prior to 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 share capital will comprise 8,227,500 Ordinary Shares of 6.5 pence each. All of these 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 8,227,500 on Admission.

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:
Journeo plc	www.journeo.com
Russ Singleton (Chief Executive Officer) Nick Lowe (Chief Financial Officer	[phone]
WH Ireland Limited (Nominated Adviser and Broker)	www.whirelandcb.com
Mike Coe / Chris Savidge (Corporate Finance)	[phone]
Jasper Berry (Corporate Broking)	[phone]

 

END

 

 

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