27 March 2018 – rights issue
The group has now revealed the terms of its fund raising to which we referred in our original recommendation of 28 February. It is proposing a rights issue to raise gross proceeds of £157.6m, the terms of which are 1 new share for every 3 held at a price of 568p. We believe that this makes sense for the company and suggest that readers who hold the shares TAKE UP THE RIGHTS.