TTNM Tottenham Hotsp

 

TIDMTTNM 
 
RNS Number : 8615X 
Tottenham Hotspur PLC 
21 August 2009 
 

 
 
Tottenham Hotspur plc 
 
 
("Tottenham Hotspur" or "the Company") 
 
 
Placing of new shares to raise GBP15 million 
 
 
 
 
Tottenham Hotspur (AIM: TTNM.L), announces a placing (the "Placing") of 30 
million new ordinary shares of 5p each (the "New Shares"). The New Shares have 
been placed for cash by Seymour Pierce Limited with new and existing 
shareholders ("the Placees") at 50p per share and have raised  GBP15 million 
before expenses.  The new funds represent the first stage of capital which is 
required for the development of the Company's proposed new stadium development, 
specifically the submission of a full planning proposal later this year. 
 
 
During the past two years the Company has engaged a full time team of experts 
and consultants to progress the development of the proposed new stadium. The 
Company is making solid progress with regard to submitting a full planning 
application which it expects to submit later this year. 
 
 
The professional costs to advance the project to a position where the Company 
can submit a full application for planning will be circa GBP15 million. The 
Directors are keen to ensure this stage is reached at no detriment to the core 
operations of the business, which are subject to both the current economic 
downturn and the pressure on underlying costs which result from pushing for 
success in such a hugely competitive business. 
 
 
The Company has in the past paid ordinary dividends but whilst it undergoes its 
current capital projects, including the new training facilities, it is unlikely 
that any ordinary dividends will be paid. 
 
 
In order to raise the required GBP15 million, the Company's major shareholder 
ENIC, has subscribed for the 27.8 million New Shares not taken up by 
institutional placees in the Placing.The New Shares, will rank pari passu with 
existing Ordinary Shares. Following this placing the Company will have 
122,799,073 Ordinary Shares in issue and 213,862,111 shares on a fully diluted 
basis. 
 
ends 
 
 
Enquiries: 
 
 
+--------------------------------+----------------------------+ 
| Tottenham Hotspur plc          | www.tottenhamhotspur.com   | 
+--------------------------------+----------------------------+ 
| Matthew Collecott, Finance     | tel: +44(0)20 8365 5322    | 
| Director                       |                            | 
+--------------------------------+----------------------------+ 
| John Bick                      | tel: +44(0)7872 061007     | 
+--------------------------------+----------------------------+ 
|                                |                            | 
+--------------------------------+----------------------------+ 
| Seymour Pierce Limited         | tel: +44(0)20 7107 8000    | 
+--------------------------------+----------------------------+ 
| Richard Feigen/Jonathan Wright |                            | 
+--------------------------------+----------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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