June 14, 2018 / 6:09 AM / 5 months ago

BRIEF-Rathbone Brothers launches placing of 5 percent of shares to fund takeover

June 14 (Reuters) - Rathbone Brothers PLC:

* RATHBONE BROTHERS PLC TODAY ANNOUNCES ITS INTENTION TO CONDUCT A PLACING OF NEW ORDINARY SHARES IN CAPITAL OF COMPANY REPRESENTING APPROXIMATELY 5% OF COMPANY’S EXISTING ISSUED ORDINARY SHARE CAPITAL

* PLACING SHARES OFFERED TO INSTITUTIONAL INVESTORS AT A PLACING PRICE TO RAISE GROSS PROCEEDS OF APPROXIMATELY £60M.

* NET PROCEEDS OF PLACING ARE INTENDED TO FUND PART OF INITIAL CASH CONSIDERATION PAYABLE AT COMPLETION OF ACQUISITION OF SPEIRS & JEFFREY AND BE USED FOR GENERAL CORPORATE PURPOSES. Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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