Source - RNS
RNS Number : 5000I
Draper Esprit PLC
19 June 2017
 

THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS RESTRICTED, AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE COMPANY.

 

19 June 2017

 

Draper Esprit plc

 

("Draper Esprit" or the "Company")

 

Result of General Meeting and completion of placing and subscription

 

The Board of Draper Esprit plc (AIM:GROW, ESM: GRW), a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses across Europe, is pleased to announce that at a general meeting of the Company held earlier today all resolutions were duly passed.

 

Accordingly, and as set out in the announcement dated 2 June 2017, the Company now has the requisite authority to complete the placing and subscription to raise gross proceeds of £100 million.

 

Application has been made for 29,012,346 new ordinary shares ("Ordinary Shares") to be admitted to trading on AIM and the ESM ("Admission") and it is expected that Admission will occur on 20 June 2017. Following Admission, the Company will have 69,759,922 Ordinary Shares in issue. It is expected that a further application will be made in due course in respect of the Invesco Subscription Shares (as defined in the announcement dated 2 June 2017) on the receipt of the requisite approval from the FCA pursuant to section 185 of FSMA.

 

Ends

 

For further information, please contact:

Draper Esprit plc

Simon Cook (Chief Executive Officer)

Ben Wilkinson (Chief Financial Officer)

 

+44 (0)20 7931 8800

 

Numis Securities

Nominated Adviser & Joint Broker

Alex Ham

Richard Thomas

Jamie Loughborough

Harry Trueman

 

+44 (0)20 7260 1000

Goodbody Stockbrokers

ESM Adviser & Joint Broker

Don Harrington

Linda Hickey

Charlotte Craigie

Richard Tunney

 

 +353 1 667 0420

Belvedere Communications (PR)

John West

Kim van Beeck

+44 (0)20 3567 0510

 

Notes to Editors

 

Draper Esprit (www.draperesprit.com) was founded in 2006, and is one of the largest and most active VC firms in Europe, helping entrepreneurs to build global ground-breaking technology companies through hands-on board level support, internationalisation and commercialisation activities and investment.

In 2016, with the support of new institutional investors and existing shareholders, Draper Esprit transformed into a listed PLC model (LSE: GROW.L, ESM GRW.I) to take a longer term, multi-stage, patient capital approach. In recent years, Draper Esprit's exits have generated more than $4.0 billion in combined enterprise value.

Draper Esprit is the exclusive Western European member of the Silicon Valley-based Draper Global Network, with offices around the world and portfolio companies including Baidu, Skype, Space X, Tesla and other world leading companies.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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