27th Jul 2021 20:21
Esken Ltd - airport and aviation services operator - Plans to raise minimum gross proceeds of GBP45 million via firm placing and placing and open offer. Firm placing and placing to be conducted via accelerated bookbuild. The capital raise will be fully underwritten by the joint bookrunners on closing of the bookbuild, with Canaccord Genuity Ltd and UBS AG London branch acting as joint sponsors, joint global co-ordinators and joint bookrunners. Says capital raise anticipated to be conducted at price between 14p and 16p. Adds that it has agreed new GBP20 million revolving credit facility with Lloyds Bank PLC and AIB Group UK PLC. "Completion of the transaction, together with entry into the new facility, would enable Esken to repay all outstanding bank debt, meet its ongoing working capital requirements, underpin its business plan going forward and meet certain of its legacy obligations," it says.
Current stock price: 22.25p
Year-to-date change: down 15%
By Lucy Heming;Â [email protected]
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