JOUL.L Regulatory News (JOUL)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

RESULTS OF SECONDARY PLACING OF ORDINARY SHARES IN JOULES GROUP PLC ("JOULES" OR THE "COMPANY")

Further to the previous announcement, Tom Joule and discretionary trusts controlled by Tom Joule (the "Selling Shareholders"), have sold 5.25 million shares in the Company (the "Placing Shares"), representing approximately 4.7% of the Company's issued share capital, at a price of 232 pence per share (the "Placing").

The Placing was conducted through an accelerated bookbuild. Peel Hunt is acting for the Selling Shareholders in the Placing. Following the Placing, Tom Joule holds 21.8% of the Company's issued share capital. Tom remains a very substantial shareholder in the Company and his working relationship with, and commitment to, the Company is unchanged. The remainder of the Company's shares controlled by Tom Joule following the Placing will be subject to a lock-up which ends 6 months after completion of the Placing (subject to waiver by Peel Hunt and to certain customary exceptions).

The proceeds of the Placing are payable in cash and closing of the Placing is expected to occur on a T+3 basis on 23 April 2021.

The Company is not a party to the Placing and will not receive any proceeds from the Placing.

IMPORTANT NOTICE

Members of the public are not eligible to take part in the Placing. This announcement is for information purposes only and is directed only at: (a) if in member states of the European Economic Area, persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") (b) if in the United Kingdom, persons who are "qualified investors" within the meaning of Article 2(e) of the EU Prospectus Regulation, which forms part of retained EU law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 and (b) if in the United Kingdom, persons who (i) have professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or are high net worth companies, unincorporated associations or partnerships or trustees of high value trusts as described in Article 49(2) of the Order and (ii) are "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000 ("FSMA") and (c) otherwise, to persons to whom it may otherwise be lawful to communicate it (each a "relevant person"). No other person should act or rely on this announcement and persons distributing this announcement must satisfy themselves that it is lawful to do so. 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. The announcement does not itself constitute an offer for sale of any securities.

This announcement is not for publication or distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, Japan, South Africa or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the Placing Shares or possession or distribution of this announcement in any jurisdiction where action for that purpose is required.

This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, Japan or any other jurisdiction. 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 may not be offered or sold, directly or indirectly, in the United States, absent registration except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of, the Securities Act and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of the securities referred to herein in the United States or in any other jurisdiction.

No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision in connection with the Placing must be made on the basis of all publicly available information relating to Joules Group plc and Joules Group plc's shares. Such information has not been independently verified. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

Peel Hunt LLP ("Peel Hunt") is authorised and regulated by the FCA in the United Kingdom. Peel Hunt is acting for the Selling Shareholders in connection with the Placing and no one else, and will not be responsible to anyone other than the Selling Shareholders for providing the protections offered to clients of Peel Hunt nor for providing advice in relation to the Placing Shares or the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to in this announcement.