Proposed equity placing to raise up to c.£18.5 million and proposed director dealing

Highlights

• Science Group (AIM:SAG) announces its intention to carry-out a non-pre-emptive placing (the "Placing") from new and existing shareholders through the issue and allotment of up to 4,123,839 new Ordinary Shares (the "Placing Shares") to raise gross proceeds for the Company of up to c.£18.5m at a price of 450 pence per Placing Share (the "Placing Price").
• The Placing Shares are being offered by way of an accelerated bookbuild process (the "Bookbuild"), which will be launched immediately following this announcement. Stifel Nicolaus Europe Limited ("Stifel") and Liberum Capital Limited (“Liberum”) will be acting as joint bookrunners. The Placing is subject to the terms and conditions set out in the Appendix to this announcement (which forms part of this announcement, such announcement and its Appendix together being this "Announcement").
• The net proceeds of the Placing will be used to:
  • back fund the Company’s recent purchases of shares in TP Group plc;
  • strengthen the Company’s balance sheet for future M&A as is consistent with its strategy as set out in its strategic review (24 January 2019)

   

  Expected timetable

  Announcement of the Placing7 September 2021
  Announcement of the closing of the PlacingBy 12:30pm on 7 September 2021
  Admission of the Placing Shares to trading on AIM10 September 2021

   

  This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as brought into UK domestic law through the European Union (Withdrawal) Act 2018 (as amended)) ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

  The person responsible for arranging the release of this Announcement on behalf of the Company is Martyn Ratcliffe, Executive Chairman.