Warpaint London plc (LON:W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, has announced a proposed placing of 2,745,098 new ordinary shares of 25 pence each in the capital of the Company at a price of 510 pence per Placing Share to raise gross proceeds (before fees and expenses) of £14 million.
The Placing Shares will represent approximately 3.53 per cent. of the existing issued ordinary share capital of the Company and the Issue Price represents a discount of approximately 2.67 per cent. to the closing mid-market price of 524 pence per Existing Ordinary Share on 4 December 2024, being the latest practicable date prior to the publication of this Announcement.
Warpaint also intends to carry out a separate retail offer of up to 196,078 new Ordinary Shares at the Issue Price on the Bookbuild Platform to raise gross proceeds (before fees and expenses) of up to £1 million. The Retail Offer will provide existing retail Shareholders in the United Kingdom with an opportunity to participate in the Fundraising at the same price as the Placing. A separate announcement will be made in due course regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.
