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Carpetright PLC (CPR)

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Wednesday 06 June, 2018

Carpetright PLC

Result of Meeting

RNS Number : 5528Q
Carpetright PLC
06 June 2018
 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.  PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

LEI: 213800GO32BSNNHXID90

 

Carpetright plc

("Carpetright" or the "Company" or the "Group")

 

Results of General Meeting

 

Carpetright is pleased to announce that, at the General Meeting held at 4.00 p.m. today, all of the Resolutions were duly passed by the requisite majority of the shareholders of the Company present in person or by proxy.

The proxy position in respect of the Resolutions will shortly be posted on the Company's website at www.carpetright.plc.uk.  

The Company will issue 232,463,221 New Ordinary Shares under the Placing and Open Offer, raising net proceeds of approximately £60.0 million (£65.1 million gross).

Applications have been made to the FCA and the London Stock Exchange, respectively, for the New Ordinary Shares to be admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. Admission is expected to become effective and dealings in the New Ordinary Shares issued in connection with the Placing and Open Offer to commence at 8.00 a.m. on 8 June 2018.

The New Ordinary Shares issued in connection with the Placing and Open Offer will be issued fully paid and will, upon issue, rank pari passu in all respects with the Existing Ordinary Shares.

Following Admission the total issued share capital of Carpetright will increase to 303,787,164 Ordinary Shares.

Carpetright holds no shares in Treasury and therefore the total number of voting rights in Carpetright on Admission will be 303,787,164.  This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Carpetright under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Wilf Walsh, CEO of Carpetright, said:

"Successful completion of the fundraising is a major milestone in our recovery plan and we would like to thank our existing shareholders and new investors for their strong support. The £60m net proceeds give us the resources we need to accelerate our turnaround by creating a right-sized portfolio of stores on sustainable rents, modernising our store estate and upgrading our digital platform. Carpetright remains the clear market leader and our strengthened balance sheet provides a solid platform on which we can build our recovery for the benefit of customers, colleagues, shareholders, suppliers, and landlords."

Documents Available for Inspection

In accordance with Listing Rule 9.6.2, a copy of the Resolutions will be uploaded to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.

This announcement should be read in conjunction with the text of the prospectus published by Carpetright on 18 May 2018 in connection with the Placing and Open Offer (the "Prospectus").  A copy of the Prospectus is available for inspection on the National Storage Mechanism at: www.morningstar.co.uk/uk/NSM and on Carpetright's website at: www.carpetright.plc.uk. 

Capitalised terms used in this announcement have the same meanings given to them in the Prospectus.

 

 

Enquiries:

 

 

Carpetright plc

Wilf Walsh, Chief Executive

Neil Page, Chief Financial Officer

 

01708 802000

Peel Hunt LLP (Sponsor, joint bookrunner and joint broker)

Dan Webster

George Sellar

Nicole McDougall

 

020 7418 8900

Deutsche Bank AG (Joint bookrunner and joint broker)

Simon Hollingsworth

Mark Hankinson

Adam Miller

 

020 7545 8000

Citigate Dewe Rogerson (Financial PR)

Kevin Smith

Nick Hayns

 

020 7638 9571

 

Notes to Editors

Carpetright plc is Europe's leading specialist floorcoverings and beds retailer. Since the first store was opened in 1988 the business has developed both organically and through acquisition within the UK and other European countries. The Group is organised into two geographical regions, the UK and the Rest of Europe (comprising The Netherlands, Belgium and the Republic of Ireland).

 

IMPORTANT NOTICE

This document is an advertisement and does not constitute a prospectus in connection with an offering of securities of the Company.  Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published by the Company.  The subscription or purchase of ordinary shares of the Company is subject to specific legal or regulatory restrictions in certain jurisdictions.  Persons distributing this communication must satisfy themselves that it is lawful to do so.  The Company assumes no responsibility in the event there is a violation by any person of such restrictions.

These materials may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States.  These materials do not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States.  Securities may not be offered or sold in the United States absent (i) registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or (ii) an available exemption from registration under the Securities Act. The securities mentioned herein have not been, and will not be, registered under the Securities Act and will not be offered to the public in the United States.

Peel Hunt LLP ("Peel Hunt") is authorised and regulated by the Financial Conduct Authority (the "FCA") and is acting exclusively for the Company and no one else in relation to the matters referred to herein and is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.

Deutsche Bank AG, London Branch ("Deutsche Bank") is authorised under German Banking Law (competent authority: European Central Bank) and, in the United Kingdom, by the Prudential Regulation Authority (the "PRA"). It is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority, and is subject to limited regulation in the United Kingdom by the PRA and the FCA. Details about the extent of its authorisation and regulation by the PRA, and regulation by the FCA, are available on request or from www.db.com/en/content/eu_disclosures.html. Deutsche Bank is acting exclusively for the Company and no one else in connection with the matters referred to herein, and Deutsche Bank is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Peel Hunt or Deutsche Bank or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

 

 


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