Fevertree Deputy Chairman To Sell 1.5 Million Shares Via Bookbuild (ALLISS)

22nd Mar 2018 17:32

LONDON (Alliance News) - Fevertree Drinks PLC, after the market close on Thursday, said Charles Rolls - one of its founders and non-executive deputy chairman - intends to sell 1.5 million shares via an accelerated bookbuild placing to institutional investors.

The shares represent approximately 1.3% of Fevertree's existing issued share capital.

Assuming all 1.5 million shares are sold, Rolls would continue to have an interest in 11.4 million shares in Fevertree, representing approximately 9.9% of the company's issued share capital.

The placing is being managed by Investec Bank PLC, acting as sole bookrunner.

The final number of placing shares to be placed and the price at which the shares are to be placed will be agreed by Investec and Rolls at the close of the bookbuild process. The results of the placing will be announced "as soon as practicable thereafter".

Rolls has agreed that following completion of the placing, he will not, without Investec's prior written consent, dispose of further ordinary shares in the company for a period of 3 months, "subject to certain customary exceptions".

Fevertree will not receive any proceeds from the placing.

Shares in Fevertree Drinks closed up 0.6% at 2,968.4753 pence on Thursday.

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