Greencore Group plc (LON: GNC), a leading manufacturer of convenience foods in the UK, has successfully raised £90m through a heavily oversubscribed placing offer, with Shore Capital acting as Joint Global Co-ordinator and Joint Bookrunner.
Following the material impact that COVID-19 has had on the company and food to go category as a whole, the net proceeds of the placing will be used to proactively manage debt levels, avoid further cost and capital reduction actions and continue appropriate levels of investment in business opportunities and productivity enhancement initiatives.
For further information please contact:
Shore Capital +44 (0) 20 7408 4090
Corporate Broking: Malachy McEntyre / Henry Willcocks
Corporate Advisory: Hugh Morgan / James Thomas / John More
For Shore Capital media enquiries, please contact:
Adele Gilbert: +44 (0)74 8477 8331
Note to editor
About Shore Capital
We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income. We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM. Shore Capital is also the third largest market maker by number of AIM stocks covered.
Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.
Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.