Soldato
Further to the announcement made on 15 March 2011, the Board of Directors of JJB Sports plc ("JJB" or the "Company"), one of the UK's leading sports retailers, announces that it is proposing to raise gross proceeds of GBP65 million (approximately GBP60 million net of expenses), through a firm placing and a placing and open offer involving the issue of 162,500,000 New Ordinary Shares at an issue price of 40 pence per share.
-- The issue price of 40 pence per New Ordinary Share represents a premium of 40.4% to the Closing Price of 28.5 pence per Ordinary Share on 5 April 2011 (being the last Dealing Day prior to the date of announcement of the Capital Raising).
To be honest, this is all a bit over my head and I don't really understand the process or impact of a firm placing and a placing and open offer. Anyone feel free to chip in or link to a guide .