4 Nov 2014 07:10
4 November 2014
Impellam Group plc
("Impellam" or the "Company")
Placing to raise £15 million
Further to the Company's announcement released today at 7.00a.m. (the "Acquisition Announcement"), Impellam announces that it has entered into a firm placing with certain new and existing shareholders to raise approximately £15m before expenses (the "Placing") through the issue of 3,260,870 new ordinary shares of 1p each at a price of 460 pence each (the "Placing Price"). The Placing proceeds will be used to part fund the initial Cash Consideration of Lorien Limited, as defined in the Acquisition Announcement. Certain directors (Julia Robertson, Eileen Kelliher and Mike Ettling) have also indicated that they intend to participate in the Placing by subscribing for 28,240 new ordinary shares of 1p each at the Placing Price. An application has been made for 3,260,870 new ordinary shares of 1p each to be admitted to trading on AIM and it is expected that Admission will occur on 7 November 2014 ("First Admission"). Following First Admission on 7 November 2014 and following the admission of the Consideration Shares on Monday 10 November, as defined in the Acquisition Announcement, the Company's enlarged issued share capital will consist of 48,811,541 ordinary shares of 1p each ("Enlarged Share Capital").
The above figure (48,811,541) may be used by shareholders 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, Impellam, under the FCA's Disclosure and Transparency Rules.
For further information please contact:
Impellam Group plc |
|
Julia Robertson, Chief Executive Sheryl Tye, Interim Group Finance Director | Tel: 01582 692658 Tel: 01582 692658 |
|
|
Cenkos Securities plc (Nominated Advisor and Broker to Impellam) |
|
Nicholas Wells | Tel: 020 7397 8900 |
|
|
FTI Consulting |
|
Nick Hasell | Tel: 020 3727 1340 |
|
|
|
|
Note to Editors:
Impellam Group plc, traded on the AIM (Symbol: IPEL) is a leading provider of managed services and specialist staffing expertise and is primarily based in the UK and North America, with smaller operations in Australasia, Ireland and mainland Europe. Impellam Group plc provides fulfilling jobs at all levels, including doctors, lawyers, accountants, nurses, teachers, scientists, receptionists, drivers, chefs, administrators, engineers, cleaners, security guards, and manufacturing and warehouse operatives. Impellam Group plc has 15 market leading brands and employs around 6,000 employees including approximately 2,600 managers and consultants across 230 offices.