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Transport

Aston Martin says take-up rate in rights issue was 94%

The rights issue is part of a plan by the luxury car maker to raise £653mn

Aston Martin Lagonda Global Holdings PLC (LSE:AML) said the take-up rate for its heavily-discounted 4-for-1 rights isssue was about 94.3% or about 527.3mln shares.

Dealings in the new shares are expected to begin on the London Stock Exchange’s main market for listed securities from 8.00 am today.

Banks are still looking to obtain acquirers for all - or as many as possible - of the remaining 31.7mln new shares not validly accepted.

The total issued share capital of Aston Martin is now 698.8mln ordinary shares of £0.10 each with one voting right per share.

Following the announcement of the rights issue in September, the subscription price of warrants issued was reduced to £1.67 per warrant share from £10.

Each warrant entitles the holder to subscribe to 0.3 shares in the capital of the company on the terms and subject to the conditions of the warrant instrument, an increase from 0.05.

Shares fell 8.5% to 137.1p in early morning trading on Wednesday.

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