25th Jun 2020 14:17
Young & Co's Brewery PLC - London-based pub operator - Raises GBP88.4 million through placing, subscription and retail offer, the proceeds of which are for restarting its programme of investments in its pub estate, as well as to bolster its balance sheet and make new acquisitions. In placing, issues 4.3 million 'A' shares and 4.9 million 'NV' - non-voting - shares at 1,160 pence and 735p per share respectively, totalling GBP85.5 million. Retail offer raises GBP2.7 million. JPMorgan Securities PLC and Panmure Gordon (UK) Ltd act as joint bookrunners.
Directors purchase a total of 12,232 'A' shares and 9,531 'NV' shares in subscription. Patricia Goodyear, wife of Non-Executive Chair Stephen Goodyer, buys 3,103 'A' shares and 3,265 'NV' shares, while Chief Financial Officer Michael Owen takes 1,508 'A' shares and 1,020 'NV' shares. Associate Laura Owen buys the same amount. Chief Operating Officer Simon Dodd buys 1,724 'A' shares.
Current stock price: 1,076.50 pence for GBP452.7 million market capitalisation
Year-to-date change: down 34%
By Dayo Laniyan; [email protected]
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