London, UK, 4 December 2014: BTG plc (BTG or the Company), the specialist healthcare company, is pleased to announce the successful completion of the placing announced earlier today (the Placing).
A total of 18,867,925 new ordinary shares in the Company (the Placing Shares) have been placed by Joint Bookrunners Deutsche Bank AG, London Branch (Deutsche Bank) and J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove (J.P. Morgan Cazenove) at a price of 795 pence per Placing Share, raising proceeds of approximately £150 million (before expenses).
As part of the placing, certain funds managed by Invesco Asset Management Limited or its affiliates (Invesco), which as at last notice controlled more than 10 per cent of the Company’s outstanding share capital, have committed to subscribe for 3,255,000 Placing Shares for a total consideration of £25.9 million. This constitutes a smaller related party transaction under Listing Rule 11.1.10R.
Applications have been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc (together Admission). It is expected that Admission will take place at 8.00 a.m. on 08 December 2014 at which time dealings in the Placing Shares will commence.
The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company including the right to receive all dividends and other distributions declared, made or paid after the date of issue of the Placing Shares.
Enquiries
BTG Plc
+44 (0) 20 7575 0000
Louise Makin – Chief Executive Officer
Rolf Soderstrom – Chief Financial Officer
Andy Burrows – Director of Investor Relations
Deutsche Bank
+44 (0) 20 7545 8000
Ben Lawrence
Frank Kennedy
J.P. Morgan Cazenove
+44 (0) 20 7742 4000
James Mitford
Nicholas Hall
FTI Consulting
+44 (0) 20 3727
1000 Ben Atwell
Simon Conway
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