CRW Craneware Plc

TIDMCRW

RNS Number : 8913V

Craneware plc

12 August 2020

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF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

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION.

LEI: 213800O2CTJ1YFXNXG05

12 August 2020

Craneware plc

("Craneware", the "Company" or, the "Group"),

Decision not to proceed with Proposed Placing

Craneware plc (AIM: CRW.L) announces that, despite the successful launch of the accelerated bookbuild and a strong oversubscription for approximately GBP83m from new and existing investors at a price per share of 1550p, the Board has decided that it would be in the best interests of the Company and its shareholders not to proceed with the Placing and the Placing Agreement has been terminated. This decision has been taken following news in the US overnight that the Company's proposed primary acquisition target has agreed acquisition terms with a third party, meaning certain conditions set out in the Placing Agreement would not have been able to be satisfied.

Capitalised terms used in this announcement have the meanings given to them in the Placing Announcement, unless the context provides otherwise.

Enquiries:

 
 Craneware plc 
  Keith Neilson, CEO                   +44 (0)131 550 
  Craig Preston, CFO                    3100 
 
 Peel Hunt (NOMAD and Joint Broker) 
  Dan Webster 
  George Sellar 
  Andrew Clark                         +44 (0)20 7418 
  Will Bell                             8900 
 
 Investec Bank (Joint Broker) 
  Patrick Robb 
  Henry Reast 
  Sebastian Lawrence 
  Virginia Bull                        +44 (0)20 7597 
  Sean Henney                           5970 
 
 Joh. Berenberg, Gossler & Co. KG 
  Mark Whitmore 
  Andrew Bickerton                     +44 (0)20 3207 
  Alix Mecklenburg-Solodkoff            7800 
 
 Alma (Financial PR)                   +44 (0)203 405 
  Caroline Forde                        0212 
  Robyn Fisher                          craneware@almapr.co.uk 
  Helena Bogle 
 

This Announcement is released by Craneware plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, the person responsible for arranging for the release of this Announcement on behalf of the Company is Craig Preston, Chief Financial Officer.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 12, 2020 02:00 ET (06:00 GMT)

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