TIDMSUH

RNS Number : 2383E

Sutton Harbour Group PLC

06 July 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT INTENDED TO, AND DOES NOT, CONSTITUTE OR FORM ANY PART OF, AN OFFER TO SELL OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OR THE SOLICITATION OF ANY VOTE OR APPROVAL IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, ISSUANCE OR TRANSFER OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAW.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT.

6(th) July 2021

Sutton Harbour Group PLC

("Sutton Harbour" or "the Company")

Open Offer of up to 14,000,000 Open Offer Shares

at 25 pence per share to raise approximately GBP3.5 million

Notice of General Meeting

Sutton Harbour Group plc (AIM:SUH), is pleased to announce that it will today post a circular ("Circular") to qualifying shareholders regarding an Open Offer of up to 14,000,000 New Ordinary Shares at 25 pence ("Issue Price") to raise up to approximately GBP3.5 million (before expenses) conditional on the passing of the Resolutions at the General Meeting. The Issue Price is equal to the mid-market closing price of the Ordinary Shares on 2(nd) July 2021, being the latest practical date prior to the announcement of the Open Offer.

Qualifying Shareholders will have a Basic Entitlement of 71 Open Offer Shares for every 588 Existing Ordinary Shares held and will also have the opportunity to apply for additional shares through the Excess Application Facility.

The General Meeting, notice of which is contained in the Circular will be held at 10 a.m. on 30(th) July 2021 at the offices of the Company, Sutton Harbour Group plc, Guy's Quay, Sutton Harbour, Plymouth, PL4 0ES.

Capitalised terms in this announcement are as defined in that Circular.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 
                                                                        2021 
 Record Date for entitlement to participate           6:00p.m. on 2(nd) July 
  in the Open Offer 
 Announcement of the Open Offer                                   6(th) July 
 Dispatch of this document, the Form of                           6(th) July 
  Proxy and, to certain Qualifying Non-CREST 
  Shareholders, the Application Form 
 Ex-Entitlement Date for the Open Offer              8:00 a.m. on 6(th) July 
 Basic Entitlements and Excess Entitlements           As soon as practicable 
  credited to CREST stock accounts of Qualifying                       after 
  CREST Shareholders                                    8:00 a.m. 7(th) July 
 Recommended latest time and date for               4:30 p.m. on 22(nd) July 
  requesting withdrawal of Basic Entitlements 
  and Excess Entitlements from CREST 
 Latest time for depositing Basic Entitlements      3:00 p.m. on 23(rd) July 
  and Excess Entitlements into CREST 
 Latest time and date for splitting Application     3:00 p.m. on 26(th) July 
  Forms (to satisfy bona fide market claims 
  only) 
 Latest time and date for return of Forms          10.00 a.m. on 28(th) July 
  of Proxy 
 Latest time and date for receipt of completed     11:00 a.m. on 28(th) July 
  Application Forms and payment in full 
  under the Open Offer or settlement of 
  relevant CREST instruction (as appropriate) 
 Record date for the General Meeting                6.00 p.m. on 28(th) July 
 Time and date of General Meeting                  10.00 a.m. on 30(th) July 
 Results of General Meeting and Open Offer                       30(th) July 
  announced through RNS 
 Admission of and dealings in Open Offer           8:00 a.m. on 2(nd) August 
  Shares expected to commence on AIM 
 Open Offer Shares in uncertificated form                       2(nd) August 
  expected to be credited to accounts in 
  CREST (uncertificated holders only) 
 Expected date of despatch of definitive                  Within 10 Business 
  share certificates for the Open Offer                    Days of Admission 
  Shares in certificated form (certificated 
  holders only) 
 

Notes:

1 The ability to participate in the Open Offer is subject to certain restrictions relating to Qualifying Shareholders with registered addresses or located or resident in countries outside the UK (particularly the Excluded Overseas Shareholders), details of which are set out in paragraph 6 of Part II of the Circular. Subject to certain exceptions, Application Forms will not be despatched to, and Open Offer Entitlements will not be credited to the stock accounts in CREST of, Shareholders with registered addresses in any of the Restricted Jurisdictions.

2 Each of the times and dates set out in the above timetable and mentioned in the Circular is subject to change by the Company (with the agreement of Arden), in which event details of the new times and dates will be notified to the London Stock Exchange and the Company will make an appropriate announcement to a Regulatory Information Service.

   3   References to times in this document are to London times unless otherwise stated. 

4 Different deadlines and procedures for applications may apply in certain cases. For example, if you hold your Ordinary Shares through a CREST member or other nominee, that person may set an earlier date for application and payment than the dates noted above.

5 If you require assistance please contact Computershare on 0370 707 1326. The helpline is open between 8:30 a.m. - 5:30 p.m., Monday to Friday excluding public holidays in England and Wales. Please note that Computershare cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.

--Ends--

For further information:

 
Sutton Harbour Group plc                     01752 204 186 
Philip Beinhaker, Executive Chairman 
 Corey Beinhaker - Chief Operating Officer 
 Natasha Gadsdon - Finance Director 
Arden Partners plc (Nominated Adviser)       020 7614 5900 
Paul Shackleton 
 Akhil Shah 
 Elliot Mustoe 
 

Publication of this Announcement and availability of hard copies

A copy of this Announcement will be available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on Sutton Harbour's website at www.suttonharbourgroup.com by no later than 12 noon on the Business Day following the date of this Announcement.

Neither the content of Sutton Harbour's websites nor the content of any websites accessible from hyperlinks on such website (or any other websites) are incorporated into, or form part of, this Announcement nor, unless previously published by means of a Regulatory Information Service, should any such content be relied upon in reaching a decision regarding the matters referred to in this Announcement.

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END

NOGUPURUMUPGGRA

(END) Dow Jones Newswires

July 06, 2021 02:09 ET (06:09 GMT)

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