LONDON (Alliance News) - Gateley (Holdings) PLC said on Thursday that certain directors and shareholders will sell shares through a placing to "satisfy market demand" and broaden the company's institutional investor base.
The selling shareholders plan to sell up to 4.0 million shares, reflecting 3.6% of the company's issued share capital at a price of no less than 150 pence per share through an accelerated bookbuild to institutional investors.
Shares in the law firm were 10% lower at 154.00 pence on Friday.
finnCap Ltd and N+1 Singer Capital Markets Ltd are acting as joint bookrunners for the placing.
Gateley Holdings (GTLY)