THG PLC Partial waiver of certain lock-up arrangements (6045L)
January 13 2021 - 11:36AM
UK Regulatory
TIDMTHG
RNS Number : 6045L
THG PLC
13 January 2021
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN
OFFER OF SECURITIES IN ANY JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
For immediate release.
13 January 2021
THG plc
PARTIAL WAIVER OF CERTAIN LOCK-UP ARRANGEMENTS
THG plc ("THG" or the "Company") has been informed by Balderton
Capital IV, L.P. ("Balderton Capital") of its intention to sell
approximately 21.0 million ordinary voting shares in the Company
(the "Ordinary Shares") via an accelerated bookbuild secondary
placing. West Coast Capital Assets Limited ("West Coast Capital")
also intends to sell approximately 3.2 million Ordinary Shares and
certain other individual shareholders (the "Other Selling
Shareholders") intend to sell in aggregate approximately 1.3
million Ordinary Shares. Together, Balderton Capital, West Coast
Capital and the Other Selling Shareholders intend to sell in
aggregate approximately 25.5 million Ordinary Shares in the placing
(together, the "Placing").
The Company has been informed that the Placing will be managed
by Barclays Bank PLC, Citigroup Global Markets Limited, Goldman
Sachs International and J.P. Morgan Securities, which conducts its
UK investment banking activities as J.P. Morgan Cazenove, acting as
joint global co-ordinators (together, the "Joint Global
Co-ordinators") and the Joint Global Co-ordinators and Jefferies
International Limited acting as joint bookrunners. THG will not
receive any proceeds from the Placing.
Each of the Sellers is subject to lock-up arrangements which
were agreed at the time of THG's initial public offering ("IPO")
and described in THG's IPO prospectus. The Company and, in the case
of certain of the Sellers, the Company and the Joint Global
Co-ordinators, have agreed to waive the Sellers' lock-up
arrangements with respect to the Ordinary Shares intended to be
sold by the Sellers in the Placing, provided that the Placing
completes before 18 January 2021. The Sellers' lock-up arrangements
as described in THG's IPO prospectus will otherwise remain in place
in accordance with their respective terms. The lock up of Balderton
Capital's and West Coast Capital's respective residual holdings
will therefore remain 360 days from 21 September 2020, subject to
specific exceptions outlined in THG's IPO prospectus. The lock up
of the residual holdings of the Other Selling Shareholders will
remain the later of 180 days from 21 September 2020 or the date of
publication of the Company's annual financial statements for the
year ended 31 December 2020, subject to exceptions.
For further information please contact:
Investor enquiries
THG plc
Kate Grimoldby/Clara Melia
Investor.Relations@thg.com
Media enquiries
Powerscourt - Financial PR adviser
Tel: +44 (0) 20 7250 1446
Victoria Palmer-Moore/Nick Dibden/Lisa Kavanagh
thg@powerscourt-group.com
THG plc
Viki Tahmasebi
Viki.tahmasebi@thg.com
ENDS
Important Notices
This Announcement has been issued by and is the sole
responsibility of the Company. This announcement is not intended
to, and does not, constitute or form part of any offer, invitation
or the solicitation of an offer to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of, any securities whether
pursuant to this announcement or otherwise.
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
are subject to a number of risks and uncertainties that could cause
actual events or results to differ materially from any expected
future events referred to in these forward-looking statements.
Unless otherwise required by applicable law or regulation, we do
not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future developments or otherwise.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCSFWFMDEFSEEF
(END) Dow Jones Newswires
January 13, 2021 11:36 ET (16:36 GMT)
Thg (LSE:THG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Thg (LSE:THG)
Historical Stock Chart
From Sep 2023 to Sep 2024