Proposed secondary placing of ordinary shares in Sopheon
Sopheon announces that it has been advised by Andy Michuda, Barry Mence, Stuart Silcock and Arif Karimjee (the "Directors"), along with a number of other shareholders (together the "Selling Shareholders"), that they intend to sell approximately 315,000 ordinary shares in the Company (the "Placing Shares") in order to satisfy institutional investor demand for the Company's shares. The Placing Shares represent approximately 3.1 per cent. of the issued share capital of Sopheon.
The Placing Shares are being offered by way of an accelerated bookbuild (the "Placing"), which will be launched immediately following this announcement.
The following Directors intend to sell up to the below outlined maximum number of shares each:
Director
Maximum number of Placing Shares to be sold
Andy Michuda
54,668
Barry Mence
66,390
Arif Karimjee
22,801
Stuart Silcock
20,747
The Placing is being managed by finnCap Ltd acting as sole bookrunner ("finnCap" or "Bookrunner").
The final number of Placing Shares to be placed and the price at which the Placing Shares are to be placed will be agreed by finnCap and the Selling Shareholders at the close of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timing for the close of the bookbuild process will be at the absolute discretion of finnCap.
The Company is not a party to the Placing and will not receive any proceeds from the Placing.
The books for the Placing will open with immediate effect.
For further information contact:
Barry Mence, Chairman
Arif Karimjee, CFO
Sopheon plc
+ 44 (0) 1276 919 560
Carl Holmes / Giles Rolls (corporate finance)
Alice Lane (corporate broking