Funds for acquisitions, reducing gearing, strengthening balance sheet
By Melissa Kory
Cleveland, Feb. 1 - Capital Pub Co. plc announced that it arranged a £2.3 million private placement of new ordinary shares via broker Panmure Gordon.
The company will sell 1,796,875 ordinary shares at 128 pence per placing share, a 5.88% discount to the Jan. 31 closing price of 136 pence.
The placement is conditional on the placing shares being admitted to trading on AIM of the London Stock exchange no later than Feb. 4.
Immediately following AIM admission, the company will have 26,967,949 ordinary shares in issue.
The proceeds from the placement will be used, along with internally generated cash flow, to finance future earnings-enhancing acquisitions, reduce gearing to 57% and further strengthen the company's balance sheet.
Capital Pub is a London-based company engaged in the management and operation of public houses.
| Issuer: | Capital Pub Co. plc
|
| Issue: | Stock
|
| Amount: | £2.3 million
|
| Shares: | 1,796,875
|
| Price: | 128 pence
|
| Warrants: | No
|
| Agent: | Panmure Gordon
|
| Pricing date: | Feb. 1
|
| Stock symbol: | London: CPUB
|
| Stock price: | 136 pence at close Jan. 31
|
| Market capitalization: | £32.11 million
|
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