14th Jun 2021 12:17
Revolution Bars Group PLC - Ashton-under-Lyne, England based bar chain - To raise GBP21 million from issue of 105.0 million shares at 20 pence per share via a firm placing, a placing and open offer. Price represents 11% discount to 22.40p closing price on Friday.
Says before closing on Friday, Revolution received valid acceptances from shareholders for basic entitlements on 4.4 million in new ordinary shares, accounting for around 87% of the open offer shares. The offer's excess application facility received shareholder applications in respect of a further 16 million new ordinary shares, well exceeding the remaining number of open offer shares. Qualifying shareholders will receive their full basic entitlements, whilst shares issued under the excess application facility will be scaled back. Raise conditional on shareholder approval at general meeting on Monday.
Current stock price: 22.00p, down 2.2% on Monday
Year-to-date change: down 5.8%
By Scarlett Butler; [email protected]
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