TIDMOBE
RNS Number : 8363M
Oberon Investments Group PLC
19 September 2023
Oberon Investments plc
("Oberon" or the "Company")
Conditional placing to raise GBP2.5 million
Oberon Investments Group plc (AQSE: OBE), the boutique
investment management, wealth planning and corporate broking group,
is pleased to announce that it has raised approximately GBP2.5
million before expenses, through a conditional placing, via Oberon
Capital, of 69,444,443 new ordinary shares of 0.5 pence each (the
"Placing Shares") in the Company (the "Placing") at a price of 3.6
pence per share (the "Issue Price"). The Placing was supported by
new and existing institutional shareholders.
The proceeds of the Placing will be applied to support the
expansion of the Company's key business divisions, including the
expected appointment of a number of new revenue generating teams,
to accelerate growth across the Group.
The Placing is conditional on the Company obtaining the
requisite approvals from Shareholders at its Annual General Meeting
("AGM"), which is scheduled to take place at 3.00 p.m. on 21
September 2023 at the offices of Fladgate LLP, 16 Great Queen
Street, London WC2B 5DG . Notice of the AGM has been issued and is
available to review here:
https://oberoninvestments.com/wp-content/uploads/2023/08/AGM-circular-notice-2023-as-at-11th-Aug23-after-DR-review-and-SR-Comments.pdf
.
There are no changes to the notice or to the resolutions that
will be put to the AGM (the "Resolutions"), as a result of the
Placing. If the Resolutions are passed, then the Placing Shares
will be issued under the resultant permissions.
Retail offer
The Company intends to offer up to 13,888,888 new ordinary
shares at the Issue Price (the "Retail Shares") via the Winterflood
Retail Access Platform (WRAP) to raise up to GBP0.5 million gross
proceeds (the "Retail Offer"). The Retail Offer will provide
qualifying retail investors in the United Kingdom with an
opportunity to participate alongside the Placing. A further
announcement will be made in due course regarding the Retail Offer
and its terms. It is expected that the Retail Offer will launch at
8.00 a.m. on 19 September 2023 and will be open for applications up
to 5.00 p.m. on 25 September 2023. The result of the Retail Offer
is expected to be announced by the Company on or around 26
September 2023. For the avoidance of doubt, the Retail Offer is in
addition to the Placing and will be conditional upon, amongst other
things, completion of the Placing. The Retail Offer may not be
fully subscribed.
Admission and total voting rights
Admission to Trading on AQSE and Total Voting Rights Application
will be made for the Placing Shares, which will rank pari passu
with the existing ordinary shares, to be admitted to trading on
AQSE, with admission expected to become effective at 8.00 a.m. on
27 September 2023.
Following Admission of the Placing Shares, the total issued
share capital of the Company will be 605,502,990 ordinary shares,
with no shares in Treasury. Therefore, the total current voting
rights in the Company following Admission will be 605,502,990. This
figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Simon McGivern, Oberon's CEO said : "Oberon is anticipating
considerable growth in 2023 and beyond, which will be bolstered by
this placing. We warmly welcome our new institutional investors,
alongside the continued support from our existing investor
base.
Following previous indications of demand from retail clients, we
are pleased to have also partnered with Winterflood Securities to
provide a retail offering. This gives retail investors the
opportunity to invest in Oberon alongside our long-term
institutional investors."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Which is part of the United
Kingdom domestic law pursuant to the Market Abuse (Amendment) (EU
Exit) Regulations (SI 2019/310) ("UK MAR").
The directors of Oberon accept responsibility for this
announcement.
Enquiries:
Oberon Investments Group plc
Simon McGivern / Galin Ganchev 020 3179 5300
Novum Securities Limited (AQSE Corporate Adviser
to the Company)
Richard Potts, George Duxberry 020 7399 9400
Oberon Capital (Broker to the Company)
Mike Seabrook, Nick Lovering 020 3179 5300
Important Notices
Oberon Capital is authorised and regulated by the Financial
Conduct Authority (the "FCA") in the United Kingdom and is acting
exclusively for the Company and no one else in connection with the
Placing and will not regard anyone (including any Placees) (whether
or not a recipient of this Announcement) as a client, and will not
be responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing advice in
relation to the Placing or any other matters referred to in this
Announcement.
Neither this Announcement, nor any copy of it, nor the
information contained in it, is for publication, release,
transmission, distribution or forwarding, in whole or in part,
directly or indirectly, in or into the United States, Australia,
Canada, Japan or the Republic of South Africa or any other
jurisdiction in which publication, release or distribution would be
unlawful (or to any persons in any of those jurisdictions). This
Announcement is for information purposes only and does not
constitute an offer to sell or issue, or the solicitation of an
offer to buy, acquire or subscribe for shares in the capital of the
Company in the United States, Australia, Canada, Japan or the
Republic of South Africa or any other state or jurisdiction (or to
any persons in any of those jurisdictions). This Announcement has
not been approved by the London Stock Exchange. Any failure to
comply with these restrictions may constitute a violation of the
securities laws of such jurisdictions.
The Placing Shares have not been, and will not be, registered
under the US Securities Act or with any securities regulatory
authority or under any securities laws of any state or other
jurisdiction of the United States and may not be offered, sold,
resold, pledged, transferred or delivered, directly or indirectly,
in or into the United States except pursuant to an applicable
exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in
compliance with the securities laws of any state or other
jurisdiction of the United States. No public offering of securities
is being made in the United States. The Placing Shares have not
been approved, disapproved or recommended by the U.S. Securities
and Exchange Commission, any state securities commission in the
United States or any other U.S. regulatory authority, nor have any
of the foregoing authorities passed upon or endorsed the merits of
the offering of the Placing Shares. Subject to certain exceptions,
the securities referred to herein may not be offered or sold in the
United States, Australia, Canada, Japan or the Republic of South
Africa or to, or for the account or benefit of, any national,
resident or citizen of the United States, Australia, Canada, Japan
or the Republic of South Africa.
No public offering of the Placing Shares and Subscription Shares
is being made in the United States, United Kingdom or elsewhere.
All offers of the Placing Shares and Subscription Shares will be
made pursuant to an exemption from the requirement to produce a
prospectus under the EU Prospectus Regulation or the UK Prospectus
Regulation.
This Announcement is not being distributed by, nor has it been
approved for the purposes of section 21 of FSMA by, a person
authorised under FSMA. This Announcement is being distributed and
communicated to persons in the United Kingdom only in circumstances
in which section 21(1) of FSMA does not apply.
The distribution of this Announcement, the Placing and/or the
offering of the Placing Shares in certain jurisdictions may be
restricted by law. No action has been taken by the Company or its
affiliates that would permit an offering of the Placing Shares or
possession or distribution of this Announcement or any other
offering or publicity material relating to the Placing Shares in
any jurisdiction where action for that purpose is required. Persons
into whose possession this Announcement comes are required by the
Company to inform themselves about, and to observe, such
restrictions.
This Announcement may contain and the Company may make verbal
statements containing "forward-looking statements" with respect to
certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are beyond the control of the Company. As a
result, the actual future financial condition, performance and
results of the Company may differ materially from the plans, goals
and expectations set forth in any forward-looking statements. Any
forward-looking statements made in this Announcement by or on
behalf of the Company speak only as of the date they are made.
These forward-looking statements reflect the Company's judgment at
the date of this Announcement and are not intended to give any
assurance as to future results and the Company cautions that its
actual results of operations and financial condition, and the
development of the industry in which it operates, may differ
materially from those made in or suggested by the forward-looking
statements
contained in this Announcement and/or information incorporated
by reference into this Announcement. The information contained in
this Announcement is subject to change without notice and except as
required by applicable law or regulation, the Company expressly
disclaims any obligation or undertaking to publish any updates,
supplements or revisions to any forward-looking statements
contained in this Announcement to reflect any changes in the
Company's expectations with regard thereto or any changes in
events, conditions or circumstances on which any such statements
are based, except where required to do so under applicable law.
No statement in this Announcement is intended to be a profit
forecast or estimate, and no statement in this Announcement should
be interpreted to mean that earnings per share of the Company for
the current or future financial years would necessarily match or
exceed the historical published earnings per share of the
Company.
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into or forms part of this Announcement.
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END
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