20 Sep 2017 17:22
blur Group plc
("blur", the "Group" or the "Company")
Director and Substantial Shareholder participation in placing
blur Group plc (AIM: BLUR) announces that as part of the Placing, Charles Street International Holdings Limited and certain Directors subscribed for new ordinary shares at 4 pence and Warrants, as detailed further below.
Save as otherwise defined, capitalised terms used in this announcement have the meanings given to them in the announcement released by the Company this morning at 7.01 a.m. The Placing remains subject, inter alia, to shareholder approval.
Directors
Amount subscribed (£) | Number of Placing Shares | Total shareholding on Admission | Percentage shareholding on Admission (%) | Number of Warrants | |
David Rowe | 100,000 | 2,500,000 | 11,251,428 | 6.4 | 1,250,000 |
Preeti Mardia | 20,000 | 500,000 | 1,357,142 | 0.8 | 250,000 |
Richard Rae | 40,000 | 1,000,000 | 5,285,714 | 3.0 | 500,000 |
Richard Croft | 20,000 | 500,000 | 1,928,571 | 1.1 | 250,000 |
The Independent Director, being Laurence Cook, considers, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation by the above Directors in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.
Charles Street International Holdings Limited
Charles Street International Holdings Limited has subscribed for 6,399,998 Placing Shares and will be entitled to receive 3,199,999 warrants. Charles Street International Holdings Limited is a related party of the Company for the purposes of the AIM Rules by virtue of their status as a substantial shareholder of the Company.
Following the issue of the Placing Shares Charles Street International Holdings Limited together with Robert Keith, an executive of Charles Street International Holdings Limited, have an interest in approximately 26.6% of the enlarged issued share capital of the Company.
The Directors consider, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation by Charles Street International Holdings Limited in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.
Ends
Enquiries: | |
blur Group plc David Rowe (Chairman)
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson James White
| +44 (0) 1392 927618
+44 (0)20 7496 3000 |