Result of Equity Issue

RNS Number : 4368U

FirstGroup PLC

14 May 2008

 

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, South Africa, Australia, Japan or any jurisdiction in which the same would be unlawful. This announcement is not an offer of securities in the United States, Canada, South Africa, Australia, Japan or any jurisdiction in which the same would be unlawful.

14 May 2008

FirstGroup plc ('FirstGroup' or the 'Company')

RESULT OF EQUITY PLACING 

FirstGroup is pleased to announce the successful completion of the placing announced earlier today (the 'Placing').

A total of 43,788,372 new ordinary shares of 5 pence each (the 'Placing Shares') issued by the Company have been placed with institutions at a price of 540 pence per Placing Share. Based on the placing price, the gross proceeds are approximately £236 million. The Placing Shares being issued represent approximately 9.99 per cent of FirstGroup's issued ordinary share capital prior to the Placing.

The Placing Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing issued ordinary shares of 5 pence each in the capital of the Company including the right to receive all future dividends and other distributions declared, made or paid in respect of such ordinary shares after the date of issue of the Placing Shares.

Application has been made for, and the Placing is conditional on, inter alia, admission of the Placing Shares to listing on the Official List maintained by the UK Listing Authority and admission to trading by the London Stock Exchange plc on its market for listed securities (together, 'Admission'). Admission is expected to take place, settlement to occur and dealing in the Placing Shares to commence at 8.00 a.m. on 19 May 2008.

ENQUIRIES:
FirstGroup
Moir Lockhead, Chief Executive  Nick Chevis, Finance Director Rachael Borthwick, Corporate Communications Director	Tel:    [phone]
JPMorgan Cazenove (Financial adviser, sole bookrunner & broker to FirstGroup)  Ian Hannam  Malcolm Moir	Tel:    [phone]
HSBC (Joint lead manager) Nick Donald	Tel:    [phone]

JPMorgan Cazenove Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company and no one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for providing advice in relation to the Placing or in relation to the contents of this announcement or for any other transaction, arrangement or matters referred to in this announcement.

HSBC Bank plc is acting exclusively for the Company and no one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for providing advice in relation to the Placing or in relation to the contents of this announcement or for any other transaction, arrangement or matters referred to in this announcement.

This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction.

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, South Africa, Australia, Japan, or any jurisdiction in which the same would be unlawful. This announcement does not constitute an offer to sell or issue, or the solicitation of an offer to buy or subscribe for, securities in the United States, Canada, South Africa, Australia or Japan or any jurisdiction in which such offer or solicitation is unlawful and should not be relied upon in connection with any decision to acquire Placing Shares or other securities in the capital of the Company.

The Placing Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') or under the laws of any state of the United States and may not be offered, sold or transferred, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. In the United States, the offering is being made only to a limited number of 'qualified institutional buyers' in reliance on Rule 144A under the Securities Act. This announcement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Placing Shares in any state in which such offer, solicitation or sale would be unlawful. The Placing Shares have not been, and will not be, registered with any regulatory authority of any state within the United States.

 

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