Date Posted:


Zeus Capital has acted as nominated advisor, joint broker and joint bookrunner to plc on a £130.5m institutional fundraising (via an Accelerated Bookbuild).

23rd June 2017

Through the successful private placing of 22,727,273 New Placing Shares (at a price of 220p per share) the company raised £50m, this will be used to part fund the development of a new automated warehouse super-site with the balance of £80.5m providing a partial selldown for Mahmud Kumani and certain other family shareholders.

The new warehouse super-site will provide £2bn of annual net sales capacity, to sit alongside the £1bn capacity of its existing facilities. The Group expects the land acquisitions of the new site and construction to cost around £150m over three years.

The 22,727,273 New Placing Shares were admitted to trading on AIM on 12 June 2017.