Successful Placing of Rights

RNS Number : 4165U

Shanks Group PLC

24 June 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA.

Shanks Group plc ('Shanks' or the 'Company')

SUCCESSFUL PLACING OF RIGHTS ISSUE RUMP

The Board of Shanks announced earlier today that, as at 11.00 a.m. on 23 June 2009, being the latest time and date for receipt of valid acceptances, it had received valid acceptances in respect of 151,681,156  Rights Issue Shares, representing 95.59 per cent. of the total number of Rights Issue Shares offered to Qualifying Shareholders pursuant to the 2 for 3 Rights Issue announced by Shanks on 21 May 2009. 

The Board of Shanks announces today that, in accordance with the arrangements set out in paragraph 5 of Part III of the prospectus published by Shanks on 21 May 2009 (the 'Prospectus'), RBS Hoare Govett, as sole bookrunner to the Rights Issue, has procured subscribers for the remaining Rights Issue Shares for which valid acceptances were not received at a price of 67 pence per Rights Issue Share.

The net proceeds from the sale of these Rights Issue Shares, after deduction of the Rights Issue Price (being 45.0 pence per Rights Issue Share) and the expenses of procuring such subscribers, including any value added tax thereon), will be paid (without interest) by cheque to those Qualifying Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that amounts of less than £5.00 will not be paid to such persons but will be aggregated and retained for the benefit of the Company.  For further details, please refer to paragraph 5 of Part III of the Prospectus.

Terms defined in the Prospectus have the same meanings in this announcement, unless otherwise defined.

For further information, please contact: 

Shanks Group plc Tom Drury, Group Chief Executive Chris Surch, Group Finance Director	[phone]
Tulchan Communications David Allchurch Stephen Malthouse John Sunnucks	[phone]

IMPORTANT NOTICE 

This announcement is not an offer of securities for sale in the United States. The securities discussed herein have not been and will not be registered under the US Securities Act of 1933, as amended (the 'US Securities Act') and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act. No public offering of the securities discussed herein is being made in the United States and the information contained herein does not constitute an offering of securities for sale in the United States, Canada, Australia, Japan or South Africa or in any other jurisdiction where to do SO would violate local securities laws or regulations.

This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any Securities referred to in this announcement except on the basis of information in the Prospectus.  This announcement does not constitute, or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security in the capital of the Company in any jurisdiction. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any Securities should only be made on the basis of information contained in and incorporated by reference into the Prospectus which contains further details relating to the Company in general as well as a summary of the risk factors to which any investment is subject. Nothing in this announcement should be interpreted as a term or condition of the Rights Issue.  This announcement is not directed to, or intended for distribution or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability, or use would be contrary to law or regulation which would require any registration or licensing within such jurisdiction. In particular, this announcement is not for distribution in the United States, Australia, Canada, Japan or South Africa. The information in this announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction, or disclosure of this announcement in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

RBS Hoare Govett Limited ('RBS Hoare Govett') and Greenhill & Co. International LLP ('Greenhill'), each of which is authorised and regulated in the United Kingdom by the FSA, are acting exclusively for the Company and no one else in connection with the Rights Issue and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Rights Issue and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any matters referred to in this announcement.

This announcement has been issued by, and is the sole responsibility of the Company. This announcement should not be considered a recommendation by the Company, RBS Hoare Govett or Greenhill or any of their respective directors, officers, employees, advisers or any of their respective affiliates, parent undertakings, subsidiary undertakings or subsidiaries of their parent undertakings or in relation to any purchase of or subscription for Securities. Apart from the responsibilities and liabilities, if any, which may be imposed on RBS Hoare Govett and Greenhill by the FSMA, each of RBS Hoare Govett and Greenhill or any of their respective directors, officers, employees, advisers or any of their respective affiliates, accept(s) no responsibility whatsoever for, and makes no representation or warranty, express or implied, in relation to, the contents of this announcement (including, but not limited to, its accuracy, fairness, sufficiency completeness or verification) or any other opinion or statement made or purported to be made by it, or on its behalf, in connection with the Company, the Rights Issue or any of the Securities. RBS Hoare Govett and Greenhill and each of their respective directors, officers, employees, advisers or any of their respective affiliates, parent undertakings, subsidiary undertakings or subsidiaries of their parent undertakings accordingly disclaims to the fullest extent permitted by law all and any responsibility and liability, whether arising in tort, contract or otherwise, which it might otherwise have in respect of this announcement or any such opinion or statement.

No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that earnings per Share for the current or future financial years would necessarily match or exceed the historical published earnings per Share. Prices and values of, and income from, shares may go down as well as up and an investor may not get back the amount invested. It should be noted that past performance is no guide to future performance. Persons needing advice should consult an independent financial adviser.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

This announcement has been prepared for the purposes of complying with applicable law and regulation in the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside the United Kingdom.

 

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