Inflexion places 11.5m shares in On The Beach Group

Inflexion says, subject to completion, it has placed and sold a total of 11.5m shares in On The Beach (OTB) at 365p each, raising aggregate gross proceeds of about £42m.

Following completion of the placing, Inflexion would hold 3.8m shares in OTB, or about 2.9% of its issued share capital.

The remainder of OTB shares held by Inflexion following the placing would be subject to a lock-up which ends 90 days after completion of the placing.

At 9:35am: (LON:OTB) On The Beach Group Plc share price was +0.25p at 377.5p