3 February 2021
M&C SAATCHI PLC
("M&C Saatchi" or the "Company")
Issue of New Shares
Application will be made to the London Stock Exchange for the admission of 6,499,606 new ordinary shares of one pence each in the capital of the Company (the "New Shares") to trading on the AIM market of the London Stock Exchange. The New Shares have been issued in exchange for shares in the group's Brazilian, Hong Kong and French associates following the exercise of put options onto the Company of those shares by their current holders, to satisfy deferred consideration payable for shares previously acquired in the group's South African subsidiary and to satisfy certain other obligations under the group's incentive arrangements.
Following completion of the exercise of the put options, both the Brazilian and Hong Kong associates will become subsidiaries of the group.
The recipients of the New Shares have sold 6,437,588 New Shares at a price of 89 pence per share (the "Placing"). Moray MacLennan, the Company's CEO has bought 561,798 New Shares pursuant to the Placing and now holds a total of 562,149 ordinary shares in the Company.
Application will be made for admission of the New Shares which is expected to become effective on 10 February 2021.
The total number of ordinary shares in issue on the date of admission will be 122,416,196. Of this total, 485,970 ordinary shares are held in treasury. Therefore, the total number of ordinary shares in issue with voting rights will be 121,930,226.
The above figure may 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 Disclosure and Transparency Rules.
Market Abuse Regulation
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
For further information please call:
| M&C Saatchi | +44 (0)20-7543-4500 |
| Moray MacLennan, Mickey Kalifa |
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| Tulchan Communications | +44 (0)20-7353-4200 |
| Tom Murray, Deborah Roney
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| Numis Securities | +44 (0)20-7260-1000 |
| Nick Westlake, Hugo Rubinstein, NOMAD Charles Farquhar, Corporate Broking
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