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Last checked at 
25 Aug 2022 07:00
25 August 2022
The Ince Group plc
("Ince", the "Company" or the "Group")
Result of Open Offer
Board Update
The Ince Group plc (AIM: INCE), which provides legal, accounting, financial services, consulting and pensions advice services, is pleased to announce that it has received valid acceptances and excess applications from Qualifying Shareholders pursuant to the Open Offer in respect of an aggregate of 4,201,831 Open Offer Shares. Accordingly, the Company has conditionally raised total gross proceeds of approximately £0.2 million via the Open Offer and a total of approximately £9.3 million via the Fund-raising and Open Offer.
Application has been made to the London Stock Exchange for 4,201,831 new Ordinary Shares ("New Ordinary Shares") to be admitted to trading on AIM pursuant to the Open Offer. The New Ordinary Shares will rank pari passu with the Company's existing issued share capital.
Completion of the Open Offer remains subject to the passing of the Resolution at the General Meeting to be held later this morning, following which it is expected that Admission will become effective and that dealings in the New Ordinary Shares on AIM will commence at 8.00 a.m. on 26 August 2022.
Total Voting Rights
Following Admission, the Company will have 241,240,570 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The total number of voting rights in the Company is therefore 241,240,570. From Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Director participation
The following Director of the Company participated in the Open Offer:
Name of Director | Number of shares subscribed for in the Open Offer | Ordinary Shares following the Open Offer | Total interest in the enlarged issued share capital (%) |
Simon Oakes | 5,555 | 27,777 | 0.01% |
Board update
Further to the Company's announcement on 16 August 2022, Donald Brown has been appointed as Group CEO of Ince with Adrian Biles stepping down from that role, although he remains a director whilst his departure from the Board is finalised.
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular sent to shareholders of the Company on 9 August 2022.
For further information:
The Ince Group plc | |
Donald Brown, Group Chief Executive | investorrelations@incegd.com |
Simon Oakes, Chief Financial Officer | |
Allenby Capital Limited - Nominated Adviser | +44 (0) 20 3328 5656 |
Jeremy Porter / Piers Shimwell, Corporate Finance | |
Arden Partners plc - Broker | +44 (0) 20 7614 5900 |
John Llewellyn Lloyd / Louisa Waddell, Corporate Finance | |
Simon Johnson, Equity Sales | |
Williams Nicolson - Financial PR | +44 (0) 7767 345 563 |
Steffan Williams / Fraser Schurer-Lewis | ince@williamsnicolson.com |
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