May 23, 2018 / 6:11 AM / 3 months ago

BRIEF-Dairy Crest in placing to fund higher cheese production capacity

May 23 (Reuters) - Dairy Crest Group PLC:

* PROPOSED PLACING OF NEW ORDINARY SHARES

* INTENTION TO CONDUCT A NON PRE-EMPTIVE CASH PLACING ( “PLACING”) TO INSTITUTIONAL INVESTORS OF UP TO 14,107,224 NEW ORDINARY SHARES OF 25 PENCE PER SHARE IN CAPITAL OF COMPANY

* REPRESENTING APPROXIMATELY 9.98 PER CENT. OF COMPANY’S CURRENT ISSUED SHARE CAPITAL, AT A PRICE OF 495 PENCE PER PLACING SHARE

* AS WELL AS FUNDING INCREASED CHEESE PRODUCTION CAPACITY, PLACING PROCEEDS WILL ALSO BE USED BY DAIRY CREST TO BECOME SELF-SUFFICIENT IN SUPPLY OF WATER Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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