By Susanna Moon
Chicago, July 11 - Albemarle & Bond Holdings plc said it plans to raise £8.9 million in two private placements of shares.
In one placement, the company plans to issue 3,022,209 shares at 220p each to EZ Corp. Inc.
In another placement, the company will sell 1,023,672 shares at 220p each to institutional investors through Collins Stewart Europe Ltd.
Proceeds will be used to acquire Herbert Brown & Son Ltd. for £30.758 million, including the acquisition of freehold property valued at £3,047,000, which it plans to sell immediately to cut the net purchase price to £27.711 million.
Albemarle & Bond also plans to secure £21 million through a bank facility to help fund the Herbert Brown acquisition and to refinance the acquisition of two London stores acquired in June in an unrelated deal.
Albemarle is a Reading, England-based holding company for subsidiaries that engage in pawn broking, retail jewelry sales, unsecured lending and check cashing.
First issue
| Issuer: | Albemarle & Bond Holdings plc
|
| Issue: | Stock
|
| Amount: | £6,648,860
|
| Shares: | 3,022,209
|
| Price: | 220p
|
| Warrants: | No
|
| Investor: | EZ Corp. Inc.
|
| Announcement date: | July 11
|
| Stock symbol: | AIM: ABM
|
| Stock price: | 229.50p at close July 9
|
|
|
| Second issue
|
| Issuer: | Albemarle & Bond Holdings plc
|
| Issue: | Stock
|
| Amount: | £2,252,078
|
| Shares: | 1,023,672
|
| Price: | 220p
|
| Warrants: | No
|
| Agent: | Collins Stewart Europe Ltd.
|
| Announcement date: | July 11
|
| Stock symbol: | AIM: ABM
|
| Stock price: | 229.50p at close July 9
|
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