Facilities by ADF PLC - Bridgend, Wales-based provider of serviced production facilities to UK film and television industry - Raises £10.0 million from the placing of 20.0 million new shares at 50 pence each, while selling shareholders raise the same from the sale of 20.0 million existing shares at the same price. Facilities by ADF also is making a retail offer of new shares at the same price to raise up to an additional £500,000. It says the placing isn’t conditional on the retail offer.
The equity raise is to fund the £10 million initial consideration for the acquisition of Autotrak Portable Roadways Ltd, for which Facilities by ADF will pay up to £21.3 million.
Calls general meeting of shareholders for September 9 to approve the share issue and acquisition.
Current stock price: 52.15 pence, up 2.3% in London on Friday for £41.2 million market capitalisation
12-month change: down 2.5%
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