Liberum acts as Joint Bookrunner and Joint Corporate Broker on £20m fundraising for RPS Group Plc
We are pleased to announce that Liberum acted as Joint Bookrunner and Joint Corporate Broker on a placing and subscription to raise £20.2m for RPS Group Plc through the issue of 45,881,365 shares at a price of 44 pence per share.
The placing and subscription was announced alongside amendments to the Company’s banking facilities, which were conditional on the equity raise. The shares were placed at a premium of approximately 16% to the previous day’s closing price.
RPS Group’s Board believes the amendments to the Company’s banking facilities and the additional funding from the placing will reduce leverage and improve resilience to the impact of COVID-19, enable RPS to successfully conclude the amendments to its debt facilities, provide the Group with additional financial flexibility, support the working capital associated with organic growth, invest in talent in selected segments and enable the Group to invest selectively in the business for growth.
Certain of the directors of the Company agreed to subscribe for new ordinary shares, including the CEO who subscribed for £500,000 worth.
Liberum has been Joint Corporate Broker to RPS Group Plc since 2013.
RPS Group plc is listed on the Premium Main Market.
Investment Banking - Robert Morton, John Fishley, Euan Brown, Kane Collings, Anthony Schia
Research - Joe Brent, James Allen
Sales - Jamie Vickers, Alistair Smallwood
CIR - Marcio Remedios, Antonia Brown
Legal - Rebecca Gordon, Alice Foster