Duke Royalty Limited Result of Placing (2238U)
April 01 2021 - 2:00AM
UK Regulatory
TIDMDUKE
RNS Number : 2238U
Duke Royalty Limited
01 April 2021
THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE
INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU)
NO. 596/2014 ("MAR") AS THEY FORM PART OF UK DOMESTIC LAW BY VIRTUE
OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
1 April 2021
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Result of Placing
Further to the announcement of 31 March 2021 regarding the
proposed placing via accelerated bookbuild (the "Placing
Announcement"), the Company is pleased to announce that it has
successfully raised GBP32 million (before expenses) under the
Placing, which was significantly oversubscribed.
Cenkos and Canaccord acted as Joint Bookrunners in connection
with the Placing.
The PrimaryBid Offer remains open for participation until 5.00
p.m. on 6 April 2021 and a further announcement will be made
regarding the final amount raised under the PrimaryBid Offer.
The following directors and their related parties have agreed to
subscribe for Placing Shares at the Issue Price:
Director/Related Party Number of Placing Shares
subscribed
Neil Johnson (CEO) 200,000
-------------------------
Nigel Birrell (Chairman) 200,000
-------------------------
Arlington Partners Fund* 235,639
-------------------------
*Arlington Partners Fund is owned by Arlington Group Asset
Management Limited, in which Charlie Cannon-Brookes, Executive
Director, has a 50 per cent. interest.
The Company will issue 91,428,573 new Ordinary Shares pursuant
to the Placing at the issue price of 35p per share. Admission and
dealings in the Placing Shares and the PrimaryBid Shares are
expected to commence on AIM on 19 April 2021, subject to the
passing of the Resolution by Shareholders at the Extraordinary
General Meeting. A further announcement will be made in due course
regarding the application for admission to Trading of the New
Ordinary Shares following the announcement of the result of the
PrimaryBid Offer.
A circular, containing further details of the Fundraising and
notice of the Extraordinary General Meeting to be held at 11.00
a.m. on 16 April 2021 to, inter alia, approve the resolution
required to implement the Fundraising, is expected to be published
and despatched to Shareholders on 1 April 2021 (the "Circular").
Following its publication, the Shareholder Circular will be
available on the Group's website at
https://www.dukeroyalty.com/investors
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the Placing
Announcement.
For further information, please visit www.dukeroyalty.com or contact:
Neil Johnson / Charlie
Cannon Brookes / Hugo
Duke Royalty Limited Evans +44 (0) 1481 741 240
Cenkos Securities
plc Stephen Keys / Callum
(Nominated Adviser Davidson / Julian Morse
and Joint Broker) / Michael Johnson +44 (0) 207 397 8900
Canaccord Genuity Adam James / Sam Lucas
(Joint Broker) / Georgina McCooke +44 (0) 207 523 8000
SEC Newgate (PR) Elisabeth Cowell/ Tom + +44 (0) 20 3757 6880
Carnegie/ Megan Kovach dukeroyalty@secnewgate.co.uk
About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad. Duke Royalty's experienced team provide
financing solutions to private companies that are in need of
capital but whose owners wish to maintain equity control of their
business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke
Royalty is listed on the AIM market under the ticker DUKE and is
headquartered in Guernsey.
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END
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