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Modern Water Plc Raises GBP 10 Million through New Shares Placing


Tuesday, 12 Feb 2013 02:00am EST 

Modern Water Plc announced that it has raised, subject to certain conditions, GBP10.0 million (approximately GBP 9.5 million net of expenses) by way of a placing of 20,000,000 new Ordinary Shares (the Placing Shares) with both new and existing institutional shareholders at a price of 50 pence per Ordinary Share. The Placing Price is at a discount of 17.7%. to the closing middle market price of 60.75 pence per Ordinary Share on February 11, 2013, the latest date prior to this Announcement. The Placing Shares will, upon Admission, rank pari passu in all respects with the Ordinary Shares in issue as at the date of this Announcement, including as regards the right to receive all dividends or other distributions declared, made or paid after Admission. The Placing Shares will represent 25.2% of the Company's enlarged issued ordinary share capital immediately following completion of the Placing. 

Company Quote

27.55
-1.25 -4.31%
3:58am EDT