Source - LSE Regulatory
RNS Number : 0600W
Peel Hunt LLP
20 April 2021






Tom Joule, the Founder and Chief Brand Officer of the Company, announces his intention to sell approximately 5.25 million ordinary shares (the "Placing Shares") in the Company, which represents approximately 4.7% of the Company's issued share capital. The shares to be sold are currently held by Tom Joule directly and by various discretionary trusts which are controlled by Tom Joule (the "Selling Shareholders").

This proposed sale is aimed at achieving greater portfolio diversification on the part of Tom Joule and the discretionary trusts.  Tom Joule last sold shares in Joules in 2016.

The Placing Shares are being offered by way of an accelerated bookbuild (the "Placing"), which will be launched immediately following this announcement. Peel Hunt LLP ("Peel Hunt") is acting for the Selling Shareholders in connection with the Placing.

Tom Joule currently holds 26.5% of the Company's issued share capital. Tom remains a very substantial shareholder in the Company and his working relationship with, and commitment to, the Company is unchanged. The remainder of the Company's shares controlled by Tom Joule following the Placing will be subject to a lock-up which ends 6 months after completion of the Placing (subject to waiver by Peel Hunt and to certain customary exceptions).

The final number of Placing Shares to be placed will be agreed by Peel Hunt and Tom Joule at the close of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process are at the absolute discretion of Peel Hunt. The Placing is subject to demand, price and market conditions.

The Company is not a party to the Placing and will not receive any proceeds from the Placing.

Contacts / Enquiries



Peel Hunt

Al Rae / Sohail Akbar / Max Irwin (ECM)

George Sellar / Andrew Clark / Will Bell (Investment Banking)


+44 20 7418 8900


Members of the public are not eligible to take part in the Placing. This announcement is for information purposes only and is directed only at: (a) if in member states of the European Economic Area, persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") (b) if in the United Kingdom, persons who are "qualified investors" within the meaning of Article 2(e) of the EU Prospectus Regulation, which forms part of retained EU law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 and (b) if in the United Kingdom, persons who (i) have professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or are high net worth companies, unincorporated associations or partnerships or trustees of high value trusts as described in Article 49(2) of the Order and (ii) are "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000 ("FSMA") and (c) otherwise, to persons to whom it may otherwise be lawful to communicate it (each a "relevant person"). No other person should act or rely on this announcement and persons distributing this announcement must satisfy themselves that it is lawful to do so. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. The announcement does not itself constitute an offer for sale of any securities.

This announcement is not for publication or distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, Japan, South Africa or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the Placing Shares or possession or distribution of this announcement in any jurisdiction where action for that purpose is required.

This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, Japan or any other jurisdiction. The Placing Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States, absent registration except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of, the Securities Act and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of the securities referred to herein in the United States or in any other jurisdiction.

No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision in connection with the Placing must be made on the basis of all publicly available information relating to Joules Group plc and Joules Group plc's shares. Such information has not been independently verified. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

In connection with the Placing, Peel Hunt or any of its affiliates may take up a portion of the Placing Shares as a principal position and in that capacity may retain, purchase, sell, offer to sell for its own accounts such Placing Shares and other securities of Joules Group plc or related investments in connection with the Placing or otherwise. Accordingly, references to the Placing Shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by either Peel Hunt or any of its respective affiliates acting as investors for their own accounts. Peel Hunt does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in Joules Group plc or its shares.

Peel Hunt LLP ("Peel Hunt") is authorised and regulated by the FCA in the United Kingdom. Peel Hunt is acting for the Selling Shareholders in connection with the Placing and no one else, and will not be responsible to anyone other than the Selling Shareholders for providing the protections offered to clients of Peel Hunt nor for providing advice in relation to the Placing Shares or the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to in this announcement.  

This announcement has been issued by Peel Hunt on behalf of the Selling Shareholders and is the sole responsibility of the Selling Shareholders apart from the responsibilities and liabilities, if any, that may be imposed on Peel Hunt by the Financial Services and Markets Act 2000. Peel Hunt does not accept any responsibility whatsoever and makes no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by the Selling Shareholders or on the Selling Shareholders' behalf or on Peel Hunt's behalf, in connection with the Selling Shareholders or the Placing, and nothing in this announcement is or shall be relied upon as a promise or representation in this respect, whether as to the past or the future. Peel Hunt accordingly disclaims to the fullest extent permitted by law all and any responsibility and liability, whether arising in tort, contract or otherwise, which it might otherwise have in respect of this announcement and any such statement.

This announcement is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000 ("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.


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