"Loading..."

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION OR TO ANY NATIONAL, RESIDENT OR CITIZEN THEREOF. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, ADVERTISING, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN THE LONDON TUNNELS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF THE LONDON TUNNELS PLC.

9 July 2024

The London Tunnels successfully places first tranche of new shares following listing on Euronext Amsterdam

The London Tunnels PLC (the “Company”), established to transform a former World War II tunnel complex in the centre of London into a major tourist attraction, today announces it has successfully placed the first tranche of new ordinary shares in the capital of the Company (the “Ordinary Shares”) to investors following its listing on Euronext Amsterdam on 27 June 2024 (the “Listing”).

Today, the Company issued 353,881 new Ordinary Shares to investors at an issue price of £2.00 per share and the new Ordinary Shares will be admitted to listing and trading today. Following the issue, the number of Ordinary Shares is 65,854,803. In total, the Company intends to raise up to £30 million through the issue of 15,000,000 new Ordinary Shares for up to 90 days following the Listing, of which trading will commence on a rolling basis during the placing period.

The Company intends to develop the Kingsway Exchange Tunnels (the “Tunnels”) into a major tourist attraction by restoring them back to life to offer a combination of a historical heritage experience and a cultural, beautifully designed, multi-sensory, digital experience.

The proceeds will be used to develop the Tunnels over the next years. The Company estimates that approximately £20-30 million will be required over the next 1-2 years, with a further £120 million to bring the Tunnels into operation as a visitor attraction to be funded through debt and equity. Full commercial launch is currently anticipated to be in 2027.

ABOUT THE LONDON TUNNELS

The Company was founded to preserve and transform the Tunnels, built as part of the United Kingdom Government’s strategy to protect its citizens from bombing during what became known as the London Blitz, into a major tourist attraction targeting up to 3 million visitors per year. The mile-long series of tunnels have been kept secret for nearly 70 years. Right in the centre of the London, one of the most visited cities in the world, the tunnels are envisaged to become the capital’s most spectacular underground tourist attraction, offering a combination of historical heritage experiences and a cultural, multi-sensory, digital experience. For more information, please see: www.thelondontunnels.com

FOR MORE INFORMATION

CFF Communications
Uneke Dekkers
uneke.dekkers@cffcommunications.nl
+31(0)650261626

Tavistock
Jos Simson / Rebecca Hislaire
thelondontunnels@tavistock.co.uk
+44 (0) 20 7920 3150


IMPORTANT NOTICE

This announcement is not for release, publication or distribution in whole or part, directly or indirectly, in or into the United States, Australia, Canada, South Africa, New Zealand or Japan or any other jurisdiction where such distribution would be unlawful. This announcement does not constitute a prospectus or form part of any offer to sell, or any invitation or solicitation of an offer to buy, Ordinary Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful, including the United States (including its territories or possessions or any State of the United States and the District of Columbia (the “United States”), Australia, Canada, South Africa, New Zealand or Japan.

The information contained in this announcement is for background purposes only, and does not purport to be full or complete. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on the completeness, accuracy or fairness of such information and opinions. Important limitations and other considerations in respect of the foregoing, including further discussions of risks related to any investment in the Company, is set out in the prospectus relating to Admission and found on the Company’s website (set out above).

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act.

This announcement is being distributed only to and directed only at persons (a) if in an EEA member state, who are qualified investors within the meaning of article 2(e) of the Prospectus Regulation, (b) in the United Kingdom who (i) have professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended ( the “Order”), (ii) fall within the definition of “high net worth companies, unincorporated associations, etc.” in Article 49(2)(a) to (d) of the Order and (iii) are “qualified investors” as defined in article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “UK Prospectus Regulation”); and (c) to whom it may lawfully be communicated) (together “Relevant Persons”).

This announcement may include statements that are, or may be deemed to be, “forward-looking statements” including its financial targets and objectives relating to the business, financial performance, results of operations, financial condition, liquidity, prospects, growth and strategies and results of the Company and industry in which it operates. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “targets”, “anticipates”, “expects”, “intends”, “may”, “will”, “forecast” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date they are made.

For the avoidance of doubt, the contents of the Company’s website or any website directly or indirectly linked to the Company’s website, are not incorporated by reference into, and do not form part of, this announcement.