By Devika Patel
Knoxville, Tenn., Aug. 2 - Northern Bear plc announced that it plans to raise about £3.5 million in a private placement of shares.
The company sold 2,415,250 shares at 145p each.
Dawnay, Day Corporate Broking and Strand Partners Ltd. were the agents.
Strand will also subscribe for 13,793 shares at the same price.
The deal is conditional, among other things, upon the passing of certain resolutions by the company's shareholders at an extraordinary general meeting scheduled for Aug. 30.
The shares sold in this deal represent 15.29% of Northern Bear's enlarged issued share capital.
Northern Bear is a Durham, U.K.-based group of building services and materials companies.
| Issuer: | Northern Bear plc
|
| Issue: | Stock
|
| Amount: | £3.5 million
|
| Shares: | 2,415,250
|
| Price: | 145p
|
| Warrants: | No
|
| Agents: | Dawnay, Day Corporate Broking and Strand Partners Ltd.
|
| Pricing date: | Aug. 2
|
| Stock symbol: | London: NTBR
|
| Stock price: | 166.48p at close Aug. 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
