24 Jul 2017 13:49
24 July 2017
RM2 International S.A.
("RM2" or the "Company")
Proposed Equity Offering Update
RM2 International S.A., the sustainable composite pallet innovator, announced as part of its 2016 audited annual results, which were released on 30 June 2017, that it would undertake negotiations to arrange an additional financing, which was expected to amount to at least USD 65.0 million.
The Company announces today that following market soundings over the last two weeks, the Board has concluded that the best interests of the Company and its shareholders would not be served by completing the current proposed equity offering for an amount up to £60 million at this time. The Board continues to pursue various other financing alternatives, which may include the issuance of equity and/or debt instruments.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, prior to publication, certain information contained within this Announcement was deemed to constitute inside information for the purposes of Article 7 of MAR. Market soundings (as defined in MAR) were taken in respect of the possible equity offering with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. Due to the publication of this Announcement, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.
For further information, please contact:
RM2 International S.A. | +44 (0)20 7638 9571 |
Jasper Judd, Chief Executive Officer Jean-Francois Blouvac, Chief Financial Officer | |
Strand Hanson Limited (Nominated & Financial Adviser) | +44 (0) 20 7409 3494 |
James Spinney Ritchie Balmer | |
James Bellman | |
Zeus | +44 (0)20 3829 5000 |
John Goold | |
Arden Partners | +44 (0)20 7614 5928 |
Ruari McGirr Chris Hardie | |
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
Simon Rigby Ellen Wilton
|
Notes to Editors
RM2 International S.A. specialises in pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com