RBG expands fundraising with £0.7m retail offer

By Josh White

Date: Friday 23 Feb 2024

RBG expands fundraising with £0.7m retail offer

(Sharecast News) - RBG Holdings unveiled plans for a retail offer directed at existing retail shareholders on Friday, in a bid to raise £0.7m to help its plans to save on interest payments.
The AIM-traded firm said the fundraising would take place via the BookBuild platform, and would be in addition to the placing and subscription, which closed on Thursday.

It said the offer entailed making available up to 7,777,777 new shares at a price of 9p each.

RBG said it had conditionally placed 17,673,144 new shares at the issue price, raising gross proceeds of £1.6m through an accelerated bookbuild process.

Furthermore, a conditional subscription of 13,753,275 new shares at the issue price, raised gross proceeds of £1.2m.

The board noted that the issue price represented a discount of 2.7% to the closing mid-price per share on 21 February.

Completion of the retail offer remained contingent on various conditions, including the passage of certain resolutions by shareholders at a proposed general meeting on 12 March.

RBG said the net proceeds from the fundraising would be used to reduce the use of the HSBC facilities, ease the pressure on the group's cash management function, and benefit from the material savings in interest payments in the 2024 financial year and beyond through lower borrowings.

At 1037 GMT, shares in RBG Holdings were down 1.62% at 9.1p.

Reporting by Josh White for Sharecast.com.


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