A total of 86,734,694 new ordinary shares in the capital of the Company of 0.375 pence each (the “Placing Shares”) have been placed by Goldman Sachs International and Numis Securities Limited (together, the “Joint Bookrunners”) at a price of 98.00 pence per Placing Share (the “Placing Price”), raising gross proceeds of approximately £85 million (before expenses).
Andrew Brode, Leslie-Ann Reed and Harry Hill participated in the Placing by subscribing for 1,969,388 Placing Shares at the Placing Price, equivalent to an aggregate amount of approximately £1.93 million.
The Placing Shares represent approximately 15.1% of the issued ordinary share capital of the Company prior to the Placing. The Placing Price represents a discount of approximately 3.9% to the closing price of 102.00 pence on 24 April 2018.
In relation to the above, an application has been made to the London Stock Exchange for the Placing Shares, which will when issued rank pari passu with the existing ordinary shares in the capital of the Company, to be admitted to trading on AIM which is expected to take place at 8.00 a.m. on 27 April 2018.
In accordance with the FCA's Disclosure Guidance and Transparency Rules, following this issue, the Company's issued share capital consists of 660,798,691 ordinary shares (excluding 404,340 treasury shares).
The figure of 660,798,691 ordinary shares should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Jonathan Satchell, Chief Executive of LTG, said: “We are delighted with the level of investor interest, demonstrating very strong support for the proposed acquisition of PeopleFluent. This is a major milestone for the Learning Technologies Group strategy. We will now be looking to build on our track record of enhancing the businesses we acquire, with the objective of providing a truly exceptional portfolio of content, services and platforms for learning and talent management.”