The content on this page has been converted from PDF to HTML format using an artificial intelligence (AI) tool as part of our ongoing efforts to improve accessibility and usability of our publications. Note:

No human verification has been conducted of the converted content.
While we strive for accuracy errors or omissions may exist.
This content is provided for informational purposes only and should not be relied upon as a definitive or authoritative source.
For the official and verified version of the publication, refer to the original PDF document.

If you identify any inaccuracies or have concerns about the content, please contact us at [email protected].

Big Yellow Group plc Post-transaction report

Post-transaction report

Topic	Description
Name of issuer	Big Yellow Group PLC
Transaction details	In aggregate, the Capital Raise of 11,640,212 New Ordinary Shares (comprising 11,470,212 Placing Shares and 170,000 Retail Offer Shares) represents approximately 6.3% of the Company's issued ordinary share capital. Settlement for the New Ordinary Shares and Admission is expected to take place on or before 8.00 a.m. on 13 October 2023.
Use of proceeds	The net proceeds of the Capital Raise will be used to build out the Group's existing pipeline of stores.
Quantum of proceeds	In aggregate, the Capital Raise raised gross proceeds of approximately £110 million and net proceeds of approximately £107 million.
Discount	The Placing Price of 945 pence represents a discount of 2.88 per cent. to the closing share price of 973 pence on 10 October 2023.
Allocations	Soft pre-emption has been adhered to in the allocations process. Management was involved in the allocations process, which has been carried out in compliance with the MiFID II Allocation requirements. Allocations made outside of soft pre-emption were preferentially directed towards existing shareholders in excess of their pro rata, and wall-crossed accounts.
Consultation	The Joint Bookrunners undertook a pre-launch wall-crossing process, including consultation with major shareholders, to the extent reasonably practicable and permitted by law.
Retail investors	The Capital Raise included a Retail Offer, for a total of 170,000 Retail Offer Shares, via the PrimaryBid platform. Retail investors, who participated in the Retail Offer, were able to do so at the same Placing Price as all other investors participating in the Placing. The Retail Offer was made available to existing shareholders and new investors in the UK. Investors were able to participate through PrimaryBid's platform via its partner network (covering 60+ FCA registered intermediaries) and through PrimaryBid's free-to-use direct channel. Investors had the ability to participate in this transaction through ISAs and SIPPs, as well as General Investment Accounts (GIAs). This combination of participation routes meant that, to the extent practicable on the transaction timetable, eligible UK retail investors (including certificated retail shareholders) had the opportunity to participate in the Capital Raise alongside institutional investors. Allocations in the Retail Offer were preferentially directed towards existing shareholders in keeping with the principle of soft pre-emption.

Big Yellow Group plc Post-transaction report

Post-transaction report

File

Is this page useful?