Update on partial waiver of lock-up arrangements
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
For immediate release.
14 January 2021
THG plc
UPDATE ON PARTIAL WAIVER OF CERTAIN LOCK-UP ARRANGEMENTS
Further to its announcement of 13 January 2021, THG plc ("THG" or the "Company") confirms that it has been informed by Balderton Capital IV, L.P. ("Balderton Capital") that the size of the accelerated bookbuild secondary placing (the "Placing") of ordinary voting shares in the Company (the "Ordinary Shares") was increased following strong investor appetite. Balderton Capital has informed the Company that it sold 27,423,822 Ordinary Shares in the Placing. West Coast Capital Assets Limited ("West Coast Capital") also sold 4,155,125 Ordinary Shares and certain other individual shareholders (the "Other Selling Shareholders") sold in aggregate 1,315,790 Ordinary Shares. Together, Balderton Capital, West Coast Capital and the Other Selling Shareholders (together, the "Sellers") sold in aggregate 32,894,737 Ordinary Shares in the Placing at a price of 760p per Ordinary Share. THG will not receive any proceeds from the Placing.
Each of the Sellers is subject to lock-up arrangements which were agreed at the time of THG's initial public offering ("IPO") and described in THG's IPO prospectus. The Company and, in the case of certain of the Sellers, the Company and Barclays Bank PLC, Citigroup Global Markets Limited, Goldman Sachs International and J.P. Morgan Securities, which conducts its UK investment banking activities as J.P. Morgan Cazenove, agreed to waive the Sellers' lock-up arrangements with respect to the Ordinary Shares sold by the Sellers in the Placing. The Sellers' lock-up arrangements as described in THG's IPO prospectus will otherwise remain in place in accordance with their respective terms. The lock up of Balderton Capital's and West Coast Capital's respective residual holdings will therefore remain 360 days from 21 September 2020, subject to specific exceptions outlined in THG's IPO prospectus. The lock up of the residual holdings of the Other Selling Shareholders will remain the later of 180 days from 21 September 2020 or the date of publication of the Company's annual financial statements for the year ended 31 December 2020, subject to exceptions.
For further information please contact:
Investor enquiries
THG plc
Kate Grimoldby/Clara Melia
Investor.Relations@thg.com
Media enquiries
Powerscourt - Financial PR adviser
Tel: +44 (0) 20 7250 1446
Victoria Palmer-Moore/Nick Dibden/Lisa Kavanagh
thg@powerscourt-group.com
THG plc
Viki Tahmasebi
Viki.tahmasebi@thg.com
ENDS
Important Notices
This Announcement has been issued by and is the sole responsibility of the Company. This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events referred to in these forward-looking statements. Unless otherwise required by applicable law or regulation, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 20 hours ago Savannah Energy
- 21 hours ago Buccaneer Energy PLC
- 21 hours ago Savannah Energy
- 21 hours ago Carclo
- 22 hours ago Schroder Japan Growth Fund