4th Jun 2020 09:27
(Alliance News) - SSP Group PLC on Thursday said it raised GBP11.0 million through the placing of 3.4 million shares at 315.2 pence each.
Shares in the company - which operates catering and retail units at airports - were trading 1.2% lower at 311.40 pence each on Thursday morning in London, giving it a market capitalisation of GBP1.66 billion.
FTSE 250-listed SSP had said on Wednesday that the placing, run by way of an accelerated bookbuild, was conducted as a way to allow shareholders and investors to re-invest the 2019 final payout of 6.0p per share and help the SSP to save cash amid the Covid-19 crisis.
BlackRock Inc subscribed for 394,162 shares taking its stake to 11%. Merian Global Investors Ltd subscribed for 602,791 shares, taking its stake to 3.2%.
Chief Executive Simon Smith subscribed for 15,078 shares, Chief Financial Officer Jonathan Davies for 7,931 shares, and Asia-Pacific CEO Mark Angela for 3,172 shares.
Following admission of the new shares, SSP's share coital will comprise 537.9 million shares.
By Ife Taiwo; [email protected]
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