THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL, OR ANY SOLICITATION OF AN OFFER TO PURCHASE, ANY SECURITIES OF BEST OF THE BEST PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)
31 March 2021
Best of the Best plc
("Best of the Best" or the "Company") (LON: BOTB)
Best of the Best (LON:BOTB), the AIM quoted provider of online competitions to win cars and other prizes, is pleased to announce an offer for sale via PrimaryBid (the "PrimaryBid Offer") of a maximum of 41,666 existing ordinary shares of 5 pence each in the Company (the "PrimaryBid Offer Shares") at an issue price of £24.00 per PrimaryBid Offer Share (the "Placing Price"), being a discount of 16.08 per cent to the closing mid-price on 31 March 2021, pursuant to the sale of existing Ordinary Shares by certain Directors of the Company and their family (the "Selling Directors") as announced earlier today. The PrimaryBid Offer is only available to investors in the United Kingdom. Pursuant to the announcement of earlier today, there is a further placing of existing Ordinary Shares by the Selling Directors (the "Placing Shares") at the Placing Price by way of an accelerated bookbuild process (the "Placing", and the "Bookbuild").
Today, over 74 per cent. of the Company's shares are held by Directors and family while the remaining c.26 per cent. of shares are held in public hands. Accordingly, the Selling Directors recognise that the composition of the Group's share register is important to ensure the business continues to benefit from its public listing and that having a strong and supportive shareholder base is crucial to achieve this. As a result, pursuant to a number of investor meetings and indications of strong demand for the Company's shares, from both existing and new institutional investors, the Selling Directors have decided to release a portion of their shareholdings in order to satisfy this demand, broaden the Company's shareholder base and improve liquidity. The Company is pleased that retail shareholders are able to participate using the PrimaryBid platform. The Company is not party to the PrimaryBid Offer and will not receive any proceeds from the PrimaryBid Offer.
Private and other investors are being given the opportunity to participate in the PrimaryBid Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be open to individual investors immediately following the release of this announcement. The PrimaryBid Offer will close at the same time as the Bookbuild. The PrimaryBid Offer may close early if it is oversubscribed.
The Selling Directors in consultation with PrimaryBid reserve the right to scale back any order at their discretion. The Selling Directors and PrimaryBid reserve the right to reject any application for purchase under the PrimaryBid Offer without giving any reason for such rejection.
No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for PrimaryBid Offer Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.
For further information on PrimaryBid or the procedure for applications under the PrimaryBid Offer, visit www.PrimaryBid.com or email PrimaryBid at firstname.lastname@example.org.
Best of the Best plc
William Hindmarch, Chief Executive
Rupert Garton, Commercial Director
020 7371 8866
Charles Spencer / James Deal
020 7466 5000
finnCap, Nominated Adviser and Broker
Kate Bannatyne, Corporate Finance
Alice Lane, ECM
020 7220 0500
The PrimaryBid Offer is offered under the exemptions against the need for a prospectus allowed under the Prospectus Rules. As such, there is no need for publication of a prospectus pursuant to the Prospectus Rules, or for approval of the same by the Financial Conduct Authority in its capacity as the UK Listing Authority. The PrimaryBid Offer is not being made into any Restricted Jurisdiction or any other jurisdiction where it would be unlawful to do so.
There is a minimum investment of £500 per investor under the terms of the PrimaryBid Offer which is open to existing shareholders and other investors investing via the PrimaryBid mobile app.
For further details please refer to the PrimaryBid mobile app. The terms and conditions on which the PrimaryBid Offer is made, including the procedure for application and payment for PrimaryBid Offer Shares, is available to all persons who register with PrimaryBid.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a purchase of PrimaryBid Offer Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to apply for PrimaryBid Offer Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the PrimaryBid Offer Shares if they are in any doubt.