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Shore Capital Stock. - Result of Accelerated Bookbuild in Cake Box

RNS Number : 3966Y
Shore Capital Stockbrokers Ltd
09 September 2020
 

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESAUSTRALIACANADAJAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION.

 

RESULTS OF PLACING OF 3.75 MILLION ORDINARY SHARES IN Cake Box Holdings PLC (THE "COMPANY" OR "Cake Box") BY SUKH CHAMDAL, CEO OF CAKE BOX (THE "SELLER")

 

9 September 2020

 

Further to yesterday's announcement, Sukh Chamdal, Chief Executive Officer of Cake Box ("the Seller") announces that, subject to completion, he has sold 3.75 million ordinary shares (the "Placing Shares") in Cake Box at a price of 170 pence per share (the "Placing"), raising aggregate gross proceeds for the Seller of approximately  £6.38 million.

 

The Placing was conducted through an accelerated bookbuild. Shore Capital Stockbrokers Limited ("Shore") acted as sole bookrunner (the "Sole Bookrunner") for the Seller in connection with the Placing.

 

Following completion of the Placing, the Seller will hold 12.79 million ordinary shares in the Company, representing approximately 31.97% of the Company's issued share capital* (the "Retained Shares"). The Retained Shares will be subject to a lock-up which ends six months after completion of the Placing (unless consent is granted by the Sole Bookrunner).

 

The trade date for the Placing will be on 9 September 2020 and settlement is expected to occur on a T+2 basis on 11 September 2020, subject to the satisfaction or waiver of certain customary conditions.

 

Allocations in the Placing will be confirmed to placees later today.

 

*Mr Chamdal's holding includes 8,044,473 ordinary shares held by his spouse Santosh Chamdal

 

Contacts / Enquiries

 

Shore Capital

Stephane Auton/ Patrick Castle/ Sarah Mather/ Fiona Conroy  +44 (0) 20 7408 4090

 

Important Notice

 

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED ONLY AT PERSONS WHOSE ORDINARY ACTIVITIES INVOLVE THEM IN ACQUIRING, HOLDING, MANAGING AND DISPOSING OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSES OF THEIR BUSINESS AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS AND ARE: (1) IF IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, PERSONS WHO ARE QUALIFIED INVESTORS ("QUALIFIED INVESTORS") AS DEFINED IN ARTICLE 2(E) OF REGULATION (EU) 2017/1129; AND (2) IF IN THE UNITED KINGDOM, QUALIFIED INVESTORS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER"); OR (II) FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR (III) ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE LAWFULLY BE MADE (ALL SUCH PERSONS REFERRED TO IN (1) AND (2) TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

 

This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer of, or the solicitation of an offer to acquire or dispose of securities in the United StatesCanadaAustraliaSouth Africa or Japan or in any other jurisdiction in which such an offer or solicitation is unlawful.

 

The Placing Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or jurisdiction of the United States, and, absent registration, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any relevant state or other jurisdiction of the United States.  No public offering of the Placing Shares is being made in the United States.

 

The Placing Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.

  

No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by the Seller or by Shore or any of their respective affiliates.

 

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), CanadaAustraliaSouth Africa or Japan. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

The distribution of this announcement and the offering or sale of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Seller, Shore or any of their respective affiliates that would, or which is intended to, permit a public offer of the Placing Shares in any jurisdiction or possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Seller and Shore to inform themselves about and to observe any applicable restrictions.

 

No reliance may be placed, for any purposes whatsoever, on the information contained in the announcement or on its completeness and this announcement should not be considered a recommendation by Shore in relation to any purchase of, or subscription for securities of Cake Box.

 

Shore, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting only for the Seller and no-one else in connection with the Placing.  It will not regard any other person as its client in relation to the Placing and will not be responsible to anyone other than the Seller for providing the protections offered to its clients nor for providing advice in relation to the Placing or any matters referred to in this announcement.

 

Shore and its affiliates acting as an investor for their own account may participate in the Placing on a proprietary basis and in that capacity may retain, purchase or sell for their own account such Placing Shares. In addition, they may enter into financing arrangements and swaps with investors in connection with which they may from time to time acquire, hold or dispose of Placing Shares. Shore does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so. 

 

None of Shore or any of its directors, unlimited partners, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any information relating to Cake Box or its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

 

Neither the Seller nor any of its directors, managers, partners, affiliates, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any information relating to Cake Box or its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

 

This document includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "intends", "expects", "will", or "may", or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Any forward-looking statements are subject to risks relating to future events and assumptions relating to the Company's business, in particular from changes in political conditions, economic conditions, evolving business strategy, or the retail industry. No assurances can be given that the forward-looking statements in this document will be realised. As a result, no undue reliance should be placed on these forward-looking statements as a prediction of actual results or otherwise.

 

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