Feb 22, 2021 / 08:30AM GMT
Timothy Charles Jones - Mitchells & Butlers plc - CFO & Director
Good morning, everybody. Thanks very much for joining us. This is Tim. I'm here with Bob, with Phil and with Gabby. And as you'll note, today we're formally launching our open offer on terms as outlined last week, namely to raise approximately GBP 350 million at GBP 2.10 per share to fund primarily working capital and continued investment in our estate. And this equity raise is supported by an extension to the term to GBP 150 million unsecured bank facilities and a package of revised arrangements within the securitization.
What we'd like to do today is we've got a few slides. We'd like to take you through those to give you the background and some of the details of the open offer. And then we'd be very happy to move on to Q&A at the end of that.
So with that, I'll hand over to Phil.
Philip Urban - Mitchells & Butlers plc - CEO & Director
Thanks, Tim, and good morning, everybody. Just over a year ago, we could not have envisaged wanting or needing to a deficit.
Mitchells & Butlers PLC to Discuss Capital Raise Call Transcript
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