Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksINS.L Regulatory News (INS)

  • There is currently no data for INS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Result of Secondary Placing

11 Apr 2019 09:49

RNS Number : 8980V
Instem plc
11 April 2019
 

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF INSTEM PLC IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Instem plc

("Instem" or the "Company")

Result of Secondary Placing

Instem plc (AIM: INS), a leading provider of IT solutions to the global life sciences market, announces that further to the announcement earlier today, N+1 Singer has sold, on behalf of the Selling Shareholders, a total of 1,660,000 Ordinary Shares at a price of 290 pence per Ordinary Share for which there was significantly more demand. The Placing Shares represent, in aggregate, 10.2 per cent. of the total issued share capital of the Company. For the avoidance of doubt, the Company will not receive any proceeds from the Placing.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement made at 7.00 a.m. on 11 April 2019.

The Selling Shareholders, who will collectively still retain 16.2 per cent. of the issued share capital of the Company following the Placing, have no intention of making any further sales of Ordinary Shares for at least the next 12 months.

The Selling Shareholders include the trustees of the DG 2008 Discretionary Settlement (of which David Gare (the Company Chairman) and his wife are the trustees) and David Sherwin (Non-Executive Director). The resultant interests of the DG 2008 Settlement and David Sherwin in the Company are as follows:

Name

Number of Ordinary Shares sold

Resultant shareholding

% of total issued share capital

DG 2008 Discretionary Settlement

580,000

578,427

3.56%

David Sherwin

200,000

1,180,066

7.26%

 

 

Phil Reason, CEO of Instem said:

"As a result of strong institutional investor demand following our recent results, certain shareholders have placed shares with both existing and new shareholders. I am delighted that these long term Instem shareholders have still retained a significant investment in the Company and our broadened share register provides a strong and supportive base from which we can continue to grow our business."

 

Instem plc

+44 (0) 1785 825 600

Phil Reason, CEO

Nigel Goldsmith, CFO

 

 

N+1 Singer (Nominated Adviser & Broker)

+44 (0) 20 7496 3000

Richard Lindley, Corporate Finance

Rachel Hayes, Corporate Broking

 

Walbrook Financial PR

Paul Cornelius

+44 (0) 20 7933 8780

Sam Allen

instem@walbrookpr.com

Nick Rome

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

David Gare and his wife, as trustees of the DG 2008 Discretionary Settlement

 

2

Reason for the notification

a)

 

Position/status

Chairman of the Company

b)

 

Initial notification /Amendment

Initial

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

 

Instem plc

b)

 

LEI

 

 

213800PILYUFNNROQX68

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary shares of 10p each

Identification code

GB00B3TQCK30

b)

 

Nature of the transaction

Sale of ordinary shares

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

290p

580,000

d)

 

Aggregated information

- Aggregated volume

580,000

- Price

£1,682,000

e)

 

Date of the transaction

11 April 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

David Sherwin

 

2

Reason for the notification

a)

 

Position/status

Non-Executive Director

b)

 

Initial notification /Amendment

Initial

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

 

Instem plc

b)

 

LEI

 

 

213800PILYUFNNROQX68

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary shares of 10p each

Identification code

GB00B3TQCK30

b)

 

Nature of the transaction

Sale of ordinary shares

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

290p

200,000

d)

 

Aggregated information

- Aggregated volume

200,000

- Price

£580,000

e)

 

Date of the transaction

11 April 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 

Important Notice:

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT (1) IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, PERSONS WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE "PROSPECTUS DIRECTIVE"); AND (2) IN THE UNITED KINGDOM, PERSONS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER"); OR (II) FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR (III) ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE LAWFULLY BE MADE (ALL SUCH PERSONS REFERRED TO IN (1) AND, (2) TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF INSTEM PLC IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any State or other jurisdiction of the United States, and, absent registration, may not be offered or sold in the United States (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any relevant State or other jurisdiction of the United States. There will be no public offering of the Placing Shares in the United States or elsewhere.

The Placing Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.

No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by the Selling Shareholders, N+1 Singer or any of their respective affiliates.

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, the Republic of South Africa or Japan. Any failure to comply with this restriction may constitute a violation of US, Australian, Canadian, South African or Japanese securities laws.

The distribution of this announcement and the offering or sale of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Selling Shareholders, N+1 Singer or any of their respective affiliates that would, or which is intended to, permit a public offer of the Placing Shares in any jurisdiction, or possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares, in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Selling Shareholders and N+1 Singer to inform themselves about and to observe any applicable restrictions.

No reliance may be placed, for any purposes whatsoever, on the information contained in this announcement or on its completeness and this announcement should not be considered a recommendation by the Company, the Selling Shareholders, N+1 Singer or any of their respective affiliates in relation to any purchase of or subscription for securities of the Company. No representation or warranty, express or implied, is given by or on behalf of the Company, the Selling Shareholders, N+1 Singer or any of their respective directors, partners, officers, employees, advisers or any other persons as to the accuracy, fairness or sufficiency of the information or opinions contained in this announcement and none of the information contained in this announcement has been independently verified. Save in the case of fraud, no liability is accepted for any errors, omissions or inaccuracies in such information or opinions.

N+1 Singer, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting only for the Selling Shareholders in connection with the Placing and will not be responsible to anyone other than the Selling Shareholders for providing the protections offered to the clients of N+1 Singer, nor for providing advice in relation to the Placing or any matters referred to in this announcement, and apart from the responsibilities and liabilities (if any) imposed on N+1 Singer by FSMA, any liability therefore is expressly disclaimed. Any other person in receipt of this announcement should seek their own independent legal, investment and tax advice as they see fit.

In connection with the Placing, N+1 Singer and any of its affiliates, acting as investors for their own accounts, may take up a portion of the Placing Shares in the Placing as a principal position, and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in the Placing Shares and other securities of the Company or related investments and may offer or sell such Placing Shares or other investments otherwise than in connection with the Placing. Accordingly, references in this announcement to the Placing Shares being offered, acquired, placed or otherwise dealt in should be read as including any offer, acquisition, placing or dealing in the Placing Shares by, N+1 Singer and any of its affiliates acting as an investor for their own accounts. In addition, N+1 Singer or its affiliates may enter into financing arrangements (including swaps) with investors in connection with which N+1 Singer (or its affiliates) may from time to time acquire, hold or dispose of ordinary shares in the Company. Neither N+1 Singer nor any of its affiliates intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

Certain statements in this announcement are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Readers should not place any undue reliance on forward-looking statements which speak only as of the date of this announcement. Statements contained in this announcement regarding past trends or events should not be taken as representation that such trends or events will continue in the future.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCDMGMDRMNGLZG
Date   Source Headline
21st Nov 20237:00 amRNSCancellation - Instem Plc
21st Nov 20237:00 amRNSCancellation of admission to trading
20th Nov 202312:33 pmRNSScheme becomes Effective
20th Nov 20237:30 amRNSSuspension - Instem PLC
17th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
16th Nov 20233:23 pmRNSIssuance of Shares following Court Sanction
16th Nov 20232:30 pmRNSCourt Sanction of the Scheme
16th Nov 202310:02 amRNSForm 8.5 (EPT/RI)
15th Nov 20231:40 pmPRNForm 8.3 - Instem Plc
15th Nov 202310:16 amRNSForm 8.5 (EPT/RI)
14th Nov 20235:30 pmRNSInstem
14th Nov 20233:01 pmGNWForm 8.3 - Instem plc
14th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
14th Nov 202311:08 amRNSForm 8.5 (EPT/RI)
14th Nov 202310:19 amRNSForm 8.3 - Instem Plc
13th Nov 20232:30 pmPRNForm 8.3 - Instem Plc
13th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
13th Nov 202310:03 amRNSForm 8.5 (EPT/RI) - Instem plc
13th Nov 202310:00 amRNSForm 8.3 - Instem Plc
10th Nov 20233:14 pmPRNForm 8.3 - Instem Plc
10th Nov 202312:03 pmGNWForm 8.3 - Instem plc
10th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
10th Nov 202310:24 amRNSForm 8.3 - Instem Plc
9th Nov 20233:27 pmRNSForm 8.3 - Instem PLC
9th Nov 20231:42 pmPRNForm 8.3 - Instem Plc
9th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
9th Nov 202310:17 amRNSForm 8.3 - Instem Plc
8th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
7th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
7th Nov 202311:40 amRNSForm 8.5 (EPT/RI)
7th Nov 20237:00 amRNSSatisfaction of Conditions
6th Nov 20234:28 pmRNSForm 8.3 - INSTEM PLC (replaces RNS 5325S &5364S)
6th Nov 20234:00 pmRNSForm 8.3 - INSTEM PLC (cancel & replace RNS5325)
6th Nov 20233:05 pmRNSForm 8.3 - INSTEM PLC
6th Nov 20233:00 pmRNSForm 8.3 - Instem PLC
6th Nov 20232:10 pmGNWForm 8.3 - Instem Plc
6th Nov 20231:30 pmPRNForm 8.3 - Instem Plc
6th Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
3rd Nov 20235:56 pmRNSHolding(s) in Company
3rd Nov 20231:52 pmPRNForm 8.3 - Instem Plc
3rd Nov 20231:39 pmRNSHolding(s) in Company
3rd Nov 202312:00 pmRNSForm 8.5 (EPT/RI) - Instem plc
3rd Nov 20239:49 amRNSForm 8.5 (EPT/RI)
3rd Nov 20237:05 amRNSForm 8.3 - Instem plc
2nd Nov 20232:25 pmRNSResults of Court Meeting and General Meeting
31st Oct 20239:39 amRNSForm 8.5 (EPT/RI)
30th Oct 202310:09 amRNSForm 8.5 (EPT/RI)
30th Oct 20237:00 amRNSOffer Update
27th Oct 20233:00 pmBUSForm 8.3 - INS LN
27th Oct 20231:09 pmGNWForm 8.3 - Instem Plc

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.