Equity Raise Post-Transaction Report
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Registration Number: 13172844
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. |
| Discount | The Placing Price of 185 pence represented no discount to the closing price on 23 October 2024. |
| 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. |
| 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. |
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