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Pin to quick picksMichelmersh Brick Holdings Regulatory News (MBH)

Share Price Information for Michelmersh Brick Holdings (MBH)

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Share Price: 99.50
Bid: 99.00
Ask: 100.00
Change: -3.50 (-3.40%)
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Open: 102.50
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Result of Placing

18 Feb 2019 14:43

RNS Number : 3943Q
Michelmersh Brick Holdings PLC
18 February 2019
 

18 February 2019

 

Michelmersh Brick Holdings Plc

 

(the "Company" or "Michelmersh" or the "Group")

 

Result of Placing

 

Capitalised terms used in this announcement (this "Announcement") have the meanings given to them in the announcement made on 18 February 2019 regarding the proposed placing (the "Placing Announcement"), unless the context provides otherwise.

 

Michelmersh, the specialist brick manufacturer, is pleased to announce that further to the Placing Announcement earlier today, the bookbuild has been successful and is now closed. The Company has successfully placed 5,555,556 Ordinary Shares at a Placing Price of 90 pence per share, raising gross proceeds of £5.0m to part-fund the acquisition of Floren.

 

The Placing Price represents a discount of approximately 0.6% per cent. to the closing mid-market price on 15 February 2019. The Placing was supported by existing as well as new shareholders and was conducted through an accelerated bookbuild process. The Placing was oversubscribed. Canaccord Genuity acted as Nomad and Broker in relation to the Placing.

 

The Placing Shares represent approximately 6.4 per cent. of the existing issued share capital of the Company.

 

The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM on 18 February 2019 and admission is expected to take place on or around 22 February 2019. Completion of the Placing is conditional on, inter alia, admission of the Placing Shares.

 

Following the issue of the Placing Shares, the Company's issued share capital consists of 92,041,669 Ordinary Shares, with voting rights. This figure may be used by shareholders of the Company as the denominator for the calculation 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Enquiries:

 

Michelmersh Brick Holdings Plc

Frank Hanna, Joint CEO

Stephen Morgan, Finance Director

 

07384 259407

 

Canaccord Genuity Limited (NOMAD and Broker)

Bobbie Hilliam

Georgina McCooke

020 7523 8150

 

Yellow Jersey PR

Charles Goodwin

Harriet Jackson

Annabel Atkins

 

07747 788 221

07544 275 882

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

 

 

 

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with six market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

 

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 100 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brands and is a leading specification brick and clay paving manufacturer.

 

Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.

 

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

 

Please visit the Group's websites at: www.mbhplc.co.uk and www.bimbricks.com

 

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.
 
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