Elixirr International selling 2.27% shares in secondary offering

LONDON, UK: Elixirr International plc has announced secondary offering of 1.047 million shares representing 2.27 per cent of the existing issued share capital of the company.

Elixirr International, an established, global award-winning challenger consultancy, announces that it has been informed by certain Partners, Directors, PDMRs and Shareholders of the Company of their intention to sell, in aggregate, 1,047,618 ordinary shares of 0.005 pence each in the capital of company at a price of 630 pence per placing share in order to satisfy strong institutional demand.

Each of Stephen Newton (Chief Executive Officer), Graham Busby (Chief Financial Officer), Gavin Patterson (Non-Executive Chairman), Simon Retter (Non-Executive Director), Charlotte Stranner (Non-Executive Director), Clare Filby and Nicholas Willott, PDMRs of the Company and other Partners, Andrew Curtis and Mark Goodyear alongside two other non-institutional shareholders intend to participate in the Placing.

Following a series of meetings requested by both new and existing institutional investors, it became apparent that demand for the Ordinary Shares was in excess of those readily available for sale.

The Selling Directors and Selling Partners recognise the strategic importance of a strong and supportive institutional shareholder base, hence have decided to release a portion of their own holdings in order to help satisfy this demand. Each of the Selling Partners and certain Selling Directors will apply the proceeds of the Placing to satisfy in full loans provided to them by the Company to acquire Ordinary Shares prior to the Company’s IPO in July 2020. As such, the Placing will strengthen the Company’s balance sheet.

finnCap Ltd is acting as sole bookrunner (“Bookrunner”) in relation to the Placing. The sale of the Placing Shares will be effected by way of an accelerated bookbuild to institutional investors which will be launched immediately following this announcement. A further announcement will be made following completion of the Bookbuild.

The timing for the close of the Bookbuild and the distribution of allocations will be at the absolute discretion of finnCap. The Selling Shareholders have entered into a secondary placing agreement with finnCap to act as Bookrunner.

Elixirr International PLC share price

659.00 GBX+14.00 (2.17%)today

13 Oct, 8:08 am GMT+1 ·Disclaimer


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