Placing of existing shares in Gateley Plc raising £6 million

It has today (25/02/2019) been announced that employees of Gateley (AIM:GTLY) have successfully sold 4,000,000 existing ordinary shares via a placing at 150p. The Placing was undertaken in order to satisfy market demand and broaden the institutional investor base of the Company.

N+1 Singer acted as joint bookrunner alongside finnCap to find demand for the 4 million shares. The Placing, which was conducted via an accelerated bookbuild, was over subscribed and a total of £6 million was raised. 150p represents a discount of 12.9% to the closing share price on 21 February 2019, being the day before launch of the bookbuild.

About Gateley Plc 

Gateley (Holdings) Plc was the UK’s first commercial law firm to become a publicly-quoted company on its admission to AIM in 2015.

Gateley is a full service commercial law firm, with a strategy of combined organic and acquisitive growth. It provides a comprehensive range of high added value legal services and other complementary, non-legal, professional services to its highly-diverse customer base. These are delivered from a network of nine offices in the UK and one in Dubai. It has a strong track record of growth and cash generation, supporting its dividend policy.

Ticker: GTLY
Market Cap: £172 million
Website: https://www.gateleyplc.com/