Result of placing Best Buy shareholding

RNS Number : 4591I

Carphone Warehouse Group PLC

03 July 2013

 



Wednesday 3 July 2013

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Carphone Warehouse Group plc

("Carphone Warehouse" or the "Company")

Symbol: CPW

RESULTS OF PLACING

Further to yesterday's announcement, Carphone Warehouse is pleased to announce the completion of the placing (the "Placing").

A total of 42,105,263 ordinary shares owned by Best Buy Co., Inc. ("Best Buy"), representing approximately 7.5% of the Company's existing issued ordinary share capital, (the "Consideration Shares") have been placed by Deutsche Bank AG, London Branch ("Deutsche Bank") and UBS Limited ("UBS") who are acting as joint bookrunners in connection with the Placing at a price of 244 pence per Consideration Share, raising gross proceeds of approximately £103 million (the "Gross Proceeds"). 

As announced on 30 April 2013, Carphone Warehouse is entitled to retain any upside on the sale price of the Consideration Shares above a value of 190 pence per share. Therefore, before the deduction of expenses and commissions, approximately £80 million of the Gross Proceeds are deliverable to Best Buy and Carphone Warehouse retains in aggregate approximately £23 million.

Enquiries:

Carphone Warehouse Group plc  

Roger Taylor, Chief Executive Officer

Nigel Langstaff, Chief Financial Officer

Kate Ferry, Investor Relations Director

Joint Bookrunners and Corporate Brokers

Deutsche Bank AG Matt Hall, UK Corporate Broking [phone] Ed Sankey, Equity Capital Markets [phone]

UBS Limited David James, UK Corporate Broking [phone] Anna Richardson Brown, UK Corporate Broking [phone]

For media enquiries:

Carphone Warehouse Group plc

Kerry Becker, IR Manager

[phone]

Citigate Dewe Rogerson    

Anthony Carlisle

[phone]

For further information, please visit www.cpwplc.com

 

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