BCG.L

Baltic Classifieds Group PLC
Baltic Classifieds - Buy-back of shares from Antler EquityCo S.à r.l.
12th July 2024, 17:17
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 3042W
Baltic Classifieds Group PLC
12 July 2024
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OR THE SOLICITATION OF AN OFFER TO BUY IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, OF THE SECURITIES REFERRED TO HEREIN IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

 

12 July 2024

Baltic Classifieds Group PLC

 

(the "Company")

 

Buy-back of approximately 4.2 million shares in the Company from Antler EquityCo S.à r.l. and proposed secondary placing of approximately 30 million shares in the Company by Antler EquityCo S.à r.l.

 

Antler EquityCo S.à r.l ("Antler"), which is controlled by funds advised by Apax Partners LLP ("Apax"), has announced today its intention to sell approximately 30 million ordinary shares in the capital of the Company (the "Placing Shares") by way of an accelerated bookbuild to institutional investors (the "Placing"). The Placing Shares represent approximately 6% of the Company's issued share capital. Antler currently owns 63,092,378  ordinary shares representing approximately 13% of the Company's issued share capital.

The Company has separately notified Antler of its intention to make an off-market purchase of approximately 4.2 million ordinary shares in the capital of the Company (the "Off-Market Purchase"). This will be executed concurrently with the Placing, in accordance with the terms of a contract (the "Buyback Contract") between Antler and the Company, which was approved by the shareholders of the Company at its Annual General Meeting on 27 September 2023, subject to the completion of the Placing.

BofA Securities Europe SA ("BofA Securities") is acting as sole Global Coordinator in connection with the Placing. The price per Placing Share will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period will commence today, and may close at any time on short notice. The results of the Placing, including the number of Placing Shares to be sold and the price per Placing Share, will be announced by Antler as soon as practicable after the closing of the bookbuilding process. To permit the Placing, Antler has announced that BofA Securities has waived the 90 day lock-up undertaking that was agreed in connection with the previous placing undertaken by Antler on 31 May 2024. Antler has also announced that it has undertaken that it will not dispose of any further Company shares for a period of 90 days following completion of the Placing, subject to certain exceptions (including for disposals of shares pursuant to share repurchases by the Company) and waiver by BofA Securities.

The Company is not a party to the Placing and will not receive any proceeds from the Placing. 

Antler is a related party of the Company for the purposes of the Listing Rules by virtue of its approximately 13% shareholding in the Company. The Off-Market Purchase by the Company from Antler is expected to constitute a "smaller related party transaction" falling within LR 11.1.10R(1).

Enquiries

 

Baltic Classifieds Group PLC

Company Secretary: E-mail: cosec@balticclassifieds.com

 

The person responsible for the release of this announcement on behalf of the Company is Egle Sadauskiene (Company Secretary).

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEBRGDRDBBDGSD]]>
TwitterFacebookLinkedIn