Writtle Share Placing and Buyback
Following the formal notification on 21 September 2023 that one of our two Private Equity shareholders, Abry Partners, wished to sell their 11.09% shareholding, Writtle conducted a successful share placing amongst its shareholders and share option holders.
A shareholder resolution was passed enabling Writtle to utilise some of its net cash to purchase and cancel any Abry Partners shares that were not purchased by shareholders and share option holders.
On 30 October 2023, 364,906 shares were purchased by shareholders and share option holders and 514,982 shares were purchased by Writtle for cancellation. Following the share cancellation, the ownership proportion attributed to each ordinary share increased by 6.94%.