DUBLIN - Roebuck Food Group PLC (AIM: RFG), a company operating within the food and agribusiness sectors, has announced the successful completion of a share placement and subscription effort, raising a total of €10 million. The fundraising included the issuance of 27,424,073 new ordinary shares at a price of 16 pence per share, generating approximately €5.3 million, and direct subscription agreements for 24,059,551 shares, yielding about €4.7 million.
The new shares, which will represent approximately 50.9% of the company's ordinary shares once issued, were placed at a 4.8% discount to the closing mid-market price as of the last trading day before the fundraising announcement. The shares will rank equally with existing ordinary shares, including dividend rights.
The fundraising is subject to shareholder approval at an Extraordinary General Meeting (EGM) scheduled for January 23, 2025, and the subsequent admission of the shares to trading on the AIM market, expected to occur around 8:00 a.m. on January 24, 2025.
Notably, company directors and management participated in the fundraising, with investments totaling €210,176. CEO Kieran Mahon, Finance Director Aidan Hughes, Non-executive Director Sean Savage, and Executive Justin McCarthy have collectively subscribed for a significant number of the new shares.
Following the anticipated admission of the new shares, Roebuck Food Group will have a total of 101,143,944 ordinary shares in issue, which shareholders can use as the denominator for notification of changes in shareholding interests under the Companies Act 2014 of Ireland.
This financial move aims to bolster Roebuck Food Group's growth and innovation initiatives within its sector. The information reported is based on a press release statement by the company.
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