TIDMDUKE
RNS Number : 0038L
Duke Royalty Limited
10 May 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF DUKE ROYALTY LIMITED.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
10 May 2022
Duke Royalty Limited
(" Duke " or the " Company " ) (LON: DUKE)
PrimaryBid Offer
Further to the Company's recent announcement, Duke Royalty
Limited, the AIM quoted provider of long-term alternative capital
solutions to a diversified range of private, owner-managed SME
businesses in Europe and abroad, is pleased to announce a
conditional offer for subscription via PrimaryBid (the "PrimaryBid
Offer") of up to 4,285,715 new ordinary shares of no par value in
the Company ("New Ordinary Shares") at an issue price of 35 pence
per New Ordinary Share (the "Issue Price"), being a discount of 9.7
per cent to the closing mid-price on 9 May 2022. The Company is
also conducting a placing of new Ordinary Shares at the Issue Price
by way of an accelerated bookbuild process (the "Placing") as
announced today. Certain Directors and their related parties intend
to subscribe for, in aggregate, 1,500,000 new Ordinary Shares in
the Placing. A further announcement will be made in due course
regarding their respective participations.
The PrimaryBid Offer and the Placing are conditional on the new
Ordinary Shares to be issued pursuant to the PrimaryBid Offer and
the Placing being admitted to trading on AIM ("Admission").
Admission is expected to take place at 8.00 a.m. on 27 May 2022.
The PrimaryBid Offer will not be completed without the Placing also
being completed.
The Company will use the net proceeds raised from the PrimaryBid
Offer and the Placing to invest further capital into existing
Royalty Partners deploying a buy and build acquisition strategy,
and new opportunities.
Neil Johnson, CEO of the Company said:
"Over recent months, we have been focused on executing on the
exciting growth opportunities presented by our existing Royalty
Partners who continue to benefit from the flexible capital solution
that we offer. The Fundraising means that we can facilitate several
of our Royalty Partners in pursuing their buy and build acquisition
strategies, while also looking to build our new royalty partners
within our pipeline.
As we reported in our Q4 trading update, normalised cash revenue
for Q1 FY2023 is expected to be GBP5.0 million, a significant
increase year-on-year, and the board remains confident that trading
results for the full year ending 31 March 2022 will be in line with
market guidance. This fundraise is intended to fuel further growth
and diversification, adding to the high yielding dividend we
already provide our investors with exposure to. With this in mind,
we are delighted to invite other investors to participate alongside
institutions through the PrimaryBid Offer."
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the PrimaryBid mobile app available on the Apple App Store and
Google Play. PrimaryBid does not charge investors any commission
for this service.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be
open to individual and institutional investors immediately
following the release of this announcement. The PrimaryBid Offer
will close on 10 May 2022. The PrimaryBid Offer may close early if
it is oversubscribed.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the PrimaryBid Offer without giving any reason
for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
For further information, please visit www.dukeroyalty.com or
contact:
Neil Johnson / Charlie
Cannon Brookes / Hugo
Duke Royalty Limited Evans +44 (0) 1481 730 613
Cenkos Securities
plc Stephen Keys / Callum
(Nominated Adviser Davidson / Julian
and Joint Broker) Morse / Michael Johnson +44 (0) 207 397 8900
Canaccord Genuity Adam James / Sam Lucas
(Joint Broker) / Georgina McCooke +44 (0) 207 523 8000
PrimaryBid Limited James Deal / enquiries@primarybid.com
Charles Spencer
SEC Newgate (PR) Elisabeth Cowell / + 44 (0) 20 3757 6880 dukeroyalty@secnewgate.co.uk
Richard Bicknell
Details of the PrimaryBid Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the PrimaryBid Offer. The Company is therefore
making the PrimaryBid Offer available exclusively through the
PrimaryBid mobile app.
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Rules, or for approval of the same by the Financial
Conduct Authority. The PrimaryBid Offer is not being made into any
Restricted Jurisdiction or any other jurisdiction where it would be
unlawful to do so.
There is a minimum subscription of GBP250 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the
PrimaryBid Offer is made, including the procedure for application
and payment for New Ordinary Shares, is available to all persons
who register with PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
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
IOEBUGDURUBDGDG
(END) Dow Jones Newswires
May 10, 2022 12:08 ET (16:08 GMT)
Duke Capital (AQSE:DUKE.GB)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Duke Capital (AQSE:DUKE.GB)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024