Gateley plc raise £11 million in an oversubscribed Placing

Gateley (Holdings) plc has today announced the successful completion of their Accelerated Bookbuild, which raised a total of £11 million through an oversubscribed Placing of 5,500,000 Ordinary Shares at a price of 200 pence per Placing Share. 

Commenting on the placing, Michael Ward, CEO said:

“I am delighted that as a result of strong investor demand we have placed 5,500,000 shares with both existing and new shareholders. We thank existing holders for their continued support and welcome new holders to the Gateley register. As a result of the Placing we have increased the free float of the Company and have once again broadened our investor base.

The Placing is in line with the Board’s commitment to allow and incentivise our Partners and employees to realise part of the value they have helped to create in an orderly fashion, and at a price one third higher than the Company’s previous realisation event. In this way both shareholders and employees can share in the significant progress Gateley has made in the last year.”

N+1 Singer are acting as Joint Broker to Gateley alongside finnCap.

About Gateley plc

Gateley is a professional and legal services group. Founded in Birmingham in 1808, they have provided commercial legal services to individuals and businesses over the last 200 years. Gateley have over 580 professional advisers and employ around 1,000 people across 11 offices located in Belfast, Birmingham, Guildford, Leeds, Leicester, London, Manchester, Nottingham, Reading and Dubai.

Ticker: GTLY
Market Cap: £246 million*
Website: Click here

*As at 18/02/2020

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