Nucor earnings beat by $0.08, revenue fell short of estimates
LONDON - Cerillion Plc (AIM:CER) CEO Louis Hall plans to sell at least 1,333,334 ordinary shares at a price of 1500 pence per share, according to a press release statement issued Wednesday.
The shares will be offered to institutional investors through an accelerated bookbuild process managed by Panmure Liberum Limited, which is acting as sole bookrunner for the transaction. The bookbuild launched immediately following the announcement and may close on short notice.
Hall currently owns 8,987,709 ordinary shares, representing approximately 30.47% of Cerillion’s issued share capital, excluding treasury shares. The final number of shares to be placed will be determined at the close of the bookbuild process.
The CEO has committed not to sell any additional shares in the company for 365 days following the completion of this transaction, subject to certain exceptions and waiver by Panmure Liberum. Following this lock-in period, Hall has agreed to an orderly market provision for an additional 180 days.
Cerillion, a provider of billing, charging and customer relationship management software solutions, is not a party to the transaction and will not receive any proceeds from the share sale.
The placing shares will rank equally in all respects with Cerillion’s existing ordinary shares. Results of the placing will be announced after the bookbuild process concludes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.