PensionBee
Group plc
Incorporated in England and Wales
Registration Number: 13172844
LEI:
2138008663P5FHPGZV74
ISIN:
GB00BNDRLN84
28
October 2024
PensionBee Group
plc
Equity Raise Post-Transaction
Report
In accordance with the Statement of
Principles (November 2022) published by the Pre-Emption Group,
PensionBee Group plc ('PensionBee' or the 'Company'), announces the
following post transaction report in connection with the Company's
non-pre-emptive issue of equity securities, as announced on 24
October 2024.
Terms defined in the placing
announcement issued on 23 October 2024 (the 'Placing Announcement')
have the same meanings in this announcement unless the context
provides otherwise.
|
Name of Issuer
|
PensionBee Group plc
|
|
Transaction Details
|
The Company
issued 10,810,811 new ordinary shares in total pursuant to the
Placing, representing approximately 4.8% of the Company's existing
issued ordinary shares prior to the Placing.
Settlement
and admission of the Placing Shares took place at 8.00 am on 28
October 2024.
|
|
Use of Proceeds
|
As set out
in the Placing Announcement the proceeds of the Placing (net of
transaction costs) will be used to accelerate the delivery of the
Company's medium and long term guidance, through investment in its
US business.
|
|
Quantum of Proceeds
|
The
aggregate gross proceeds from the Placing amounted to approximately
£20 million.
|
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Discount
|
The Placing
Price of 185 pence represented no discount to the closing price on
23 October 2024.
|
|
Allocations
|
Soft
pre-emption has been adhered to in the allocations process, where
possible. Management was involved in the allocations process, which
has been carried out in compliance with the MIFID II Allocation
requirements.
|
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Consultation
|
KBW and the
Company undertook a pre-launch wall-crossing process, including
consultation with certain major shareholders, to the extent
reasonably practicable and permitted by law.
|
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Retail Investors
|
Following
discussions between KBW and the Company, it was decided that a
retail offer would not be included in the Placing. The Placing
structure was chosen to minimise cost, time to completion and
complexity.
|
Enquiries: PensionBee
Becky O'Connor
Laura Dunn-Sims
Steven Kennedy
press@pensionbee.com
KBW, a Stifel Company
Alistair McKay
Alberto Moreno Blasco
Erik Anderson
Nick Harland
About PensionBee
PensionBee is creating a global
leader in the consumer retirement market with £5.5 billion in
assets on behalf of 260,000 customers.
Founded in 2014, we aspire to make
as many people as possible pension confident so that everyone can
enjoy a happy retirement.
We help our customers to combine
their retirement savings into a new online account, which they can
manage from the palm of their hand.
PensionBee accounts are invested by
the world's largest investment managers, collectively looking after
more than $10 trillion in savings between them. Each PensionBee
customer has a personal account manager ("BeeKeeper") to guide them
through their savings and retirement journey. PensionBee has an
"Excellent" Trustpilot rating based on over 10,000
reviews.
As a public company, we aspire to
the highest standards in everything we do because our customers
deserve peace of mind. Our team of approximately 200 pension
professionals, based in London and New York, has one focus: you,
our customer.
PensionBee is listed on the London
Stock Exchange (LON:PBEE).
Forward Looking Statements
Statements that are not historical
facts, including statements about PensionBee's or management's
beliefs and expectations, are forward-looking statements. The
results contain forward-looking statements, which by their nature
involve substantial risks and uncertainties as they relate to
events and depend on circumstances which will occur in the future
and actual results and developments may differ materially from
those expressly stated or otherwise implied by these
statements.
These forward-looking statements are
statements regarding PensionBee's intentions, beliefs or current
expectations concerning, among other things, its results of
operations, financial condition, prospects, growth, strategies and
the industry and markets within which it operates.
These forward-looking statements
relate to the date of these results and PensionBee does not
undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of the results.