Update on the offer of ordinary shares in Blue Diamond Limited
The open offer of ordinary shares to new investors in Blue Diamond Ltd closed on 24th February 2017.
The Board is pleased to report that of the 463,481 new ordinary shares offered to existing and new investors since October 2016, 391,377 have been sold at £9.50. This represents 84% of the total authorised but unissued shares and has raised gross proceeds of £3,718,081.50.
The Board is happy to welcome 36 new investors as shareholders.
There remain 72,104 authorised but unissued ordinary shares.
The Board may consider selling some of these shares at the market price in the future if there is demand that is not met by any shareholder wishing to sell shares at that time.
The proceeds will be used to take advantage of opportunities to acquire new garden centres and to invest in the redevelopment and refurbishment of the Company's existing centres.