Liberum acts as Joint Bookrunner on a £8.5m fundraising for Safestyle UK Plc

We are pleased to announce that Liberum acted as Joint Bookrunner on a Placing raising £8.5m for Safestyle UK Plc.

Safestyle

In light of the Company’s announcement on 24 March to temporarily shut its facilities (including sales offices, installation depots and factories) as a result of COVID-19, Safestyle has raised £8.5m via an institutional placing to strengthen its balance sheet.

The proceeds of the Placing will be used to provide Safestyle UK Plc with a strong cash buffer and ensures the Company’s ability to trade through and out of the crisis against even a most extreme case of no revenue for the remainder of the year. The Placing is subject to a shareholder vote at a General Meeting which will take place on 27 April.

Liberum helped deliver significant and high quality demand, from both new and existing institutional investors, with the Placing oversubscribed during a period of market uncertainty. The Placing Price of 17 pence represented a premium of approximately 1.6% to the closing price on the day of launch. The Placing represented 37.6% of the enlarged issued share capital.

Liberum has been Joint Broker to Safestyle since June 2015.

Liberum Team

Investment Banking – Neil Patel, Jamie Richards, Laura Hamilton, Anthony Schia

Sales – Sebastian Fernandez, Julian Collett, Oliver Baxendale, Alistair Smallwood, Julian Plant, Mark Godridge

Research – Charlie Campbell

Legal – Rebecca Gordon, Alice Foster

CIR – Joel Knight

London
New York

Our offices

London

Ropemaker Place, Level 12 25 Ropemaker Street London EC2Y 9LY

New York

20th Floor 575 Fifth Avenue New York NY 10017