skip to content

Market News

PSDL proposes fundraising for up to GBP38m

09 February 2016 07:25

Phoenix Spree Deutschland Limited announce a proposed fundraising for GBP 38m gross via the issue of 19.6m new shares through a firm placing and the issue of up to 2.98m new shares in an offer for subscription, all at 168p a share.

"The Company is also proposing a Placing Programme to enable the Company to raise capital in an efficient and cost-effective manner over the next 12 months (together with the Initial Issue, the "Issues").

"The Initial Issue Price of 168 pence per New Share is at a premium to the Estimated NAV per Share as at 31 December 2015 of 167 pence per Share. New Shares will only be issued under the Placing Programme to new and existing Shareholders at a premium to the prevailing NAV at the time of issue after taking into account the costs of such issue and will therefore be NAV accretive for existing Shareholders.

"The Issues are conditional upon, amongst other things, certain resolutions being passed at an extraordinary general meeting of the Company (the "Extraordinary General Meeting") to be convened for 3 March 2016. A Notice of Extraordinary General Meeting will be sent to Shareholders today."

Story provided by StockMarketWire.com

Related Company: PSDL

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aviva Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.