Result of ABB

RNS Number : 2681S

Norman Broadbent PLC

29 September 2017

 

DISSEMINATION OF A REGULATORY ANNOUNCEMENT THAT CONTAINS INSIDE INFORMATION ACCORDING TO REGULATION (EU) NO 596/2014 (MAR).

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF NORMAN BROADBENT PLC IN ANY JURISIDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

29 September 2017

Norman Broadbent plc

("Norman Broadbent" or the "Company")

Confirmation of successful £1.23 million fundraise

Norman Broadbent (AIM: NBB), a leading provider of Talent Acquisition & Advisory Services, comprising Board & Executive Search, Interim Management, Research & Insight, Leadership Consulting & Assessment, and executive level Recruitment Solutions, is pleased to announce that, following the announcement of earlier today ("Announcement"), the Company has raised a total of £1.23 million (before expenses) with new and existing investors through the subscription of 12,252,250 Placing Shares at a price of 10 pence per share.

The Placing, which was led by WH Ireland, is subject to the terms and conditions set out in the Appendix to the Announcement made earlier today and conditional, inter alia, on the approval of shareholders at a forthcoming General Meeting, as set out in a Circular which has been posted to shareholders today, which will be convened to seek authority for the Directors to issue and allot the Placing shares otherwise than on a non-pre-emptive basis.

Application will be made for admission of the 12,252,250 Placing Shares to trading on AIM and it is expected that Admission will take place at 8.00 a.m. on  18 October 2017.

Following Admission, Norman Broadbent will have 53,885,570 Ordinary Shares in issue and admitted to trading on AIM. The figure, therefore, of 53,885,570 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of Norman Broadbent under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company holds no Ordinary Shares in treasury. 

Michael Brennan, CEO of Norman Broadbent, commented:

"I am delighted  that our key shareholders have supported this successful fund raise. This additional investment will help us as we enter Phase Two of our plan, and further accelerate the growth of Norman Broadbent Group. This is an exciting time for everyone involved with the Company, and I look forward to updating the market further as we continue to move from strength to strength"       

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released earlier today unless the context requires otherwise.

For further information, please contact:

Norman Broadbent plc                                                           Mike Brennan / Frank Carter	020 7484 0000
WH Ireland Limited Paul Shackleton / Jessica Cave / Alex Bond	0207 220 1666

For further information visit www.normanbroadbent.com

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 ("MAR").

 

END

 

 

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