Last checked at 4 Aug 2017 07:00
04 August 2017
Draper Esprit plc
("Draper Esprit" or the "Company")
FCA approval - issue of equity
As set out in the announcement dated 2 June 2017 in respect of the placing and subscription to raise an additional £100 million, Invesco Perpetual agreed to subscribe for: (i) 13,580,247 Ordinary Shares at 324 pence ("the Issue Price") per Ordinary Share pursuant to the Placing; and (ii) subject to the receipt of approval from the FCA under section 185 of FSMA, 1,851,851 Ordinary Shares at the Issue Price pursuant to the Invesco Perpetual Subscription Agreement, representing, in aggregate 21.5 per cent. of the Enlarged Share Capital. The Company is pleased to announce that Invesco Perpetual has now received the necessary approval from the FCA.
Accordingly, application has been made to the London Stock Exchange and the Irish Stock Exchange for 1,851,851 Ordinary Shares to be admitted to trading on AIM and ESM respectively. It is expected that admission will become effective and that dealings in the shares will commence on 7 August 2017. Following admission, the Company will have 71,611,773 Ordinary Shares in issue.
Terms used in the announcement but not defined have the meaning as set out in the announcement dated 2 June 2017.
Ends
For further information, please contact:
Draper Esprit plc Simon Cook (Chief Executive Officer) Ben Wilkinson (Chief Financial Officer)
| +44 (0)20 7931 8800
|
Numis Securities Nominated Adviser & Joint Broker Alex Ham Richard Thomas Jamie Loughborough Harry Trueman
| +44 (0)20 7260 1000 |
Goodbody Stockbrokers ESM Adviser & Joint Broker Don Harrington Linda Hickey Charlotte Craigie Richard Tunney
| +353 1 667 0420 |
Belvedere Communications (PR) John West Kim van Beeck | +44 (0)20 3567 0510 |
Notes to Editors
Draper Esprit (www.draperesprit.com) was founded in 2006, and is one of the largest and most active VC firms in Europe, helping entrepreneurs to build global ground-breaking technology companies through hands-on board level support, internationalisation and commercialisation activities and investment.
In 2016, with the support of new institutional investors and existing shareholders, Draper Esprit transformed into a listed PLC model (LSE: GROW.L, ESM GRW.I) to take a longer term, multi-stage, patient capital approach. In recent years, Draper Esprit's exits have generated more than $4.0 billion in combined enterprise value.
Draper Esprit is the exclusive Western European member of the Silicon Valley-based Draper Global Network, with offices around the world and portfolio companies including Baidu, Skype, Space X, Tesla and other world leading companies.