StockMarketWire.com - BBGI detailed plans to raise up to £75m through the placing of shares at premium to pay down debt and pursue investment opportunities.

The net proceeds would enable the company to pay down its revolving credit facility, providing additional financial flexibility to 'pursue primary and secondary investment opportunities in the market in accordance with the Company's strategy,' BBGI said.

The number of placing shares to be issued and the price per ordinary share would be determined by the company, following the close of the book-build at 1.00 p.m. on 20 June 2019, and announced along with the results of the placing at 7.00 a.m. on 21 June 2019.

'(E)xisting shareholders who do not participate in the placing will not suffer any dilution to their NAV per ordinary shares since the Placing Shares will be issued at a premium,' the company said.

Story provided by StockMarketWire.com