Caldwell Investments PLC
21 July 2005
COMPANY NUMBER 269566
21 July 2005
CALDWELL RIGHTS ISSUE RESULT
Caldwell Investments P.L.C. ('Caldwell') announces that it has received valid
acceptances in respect of 1,894,526 new Ordinary Shares, representing 75.3 per
cent of the total number of new Ordinary Shares offered to shareholders pursuant
to the 1 for 7 Rights Issue announced by Caldwell on 29 June 2005 (the 'Rights
Issue') and which closed at 11.00 am today.
Subscribers have been procured for 405,861 of the remaining 621,545 new Ordinary
Shares for which valid acceptances were not received, at a price of 25.25p per
share. The net proceeds from the sale of these shares, after the deduction of
the Rights Issue price of 25p per new Ordinary Share and relevant costs, will be
paid to shareholders who have not taken up their entitlements, pro rata to their
lapsed provisional allotments, save that amounts of less than £3 will be
retained for the benefit of Caldwell. The Rights Issue was not underwritten
and, accordingly, the balance of 215,684 new Ordinary Shares will not be issued.
The 2,300,387 new Ordinary Shares issued pursuant to the Rights Issue will begin
trading at 8.00 am on Friday 22 July 2005.
Stanley Wootliff, Chairman and Managing Director, commented:
'We are pleased with the support we have received from investors. The proceeds
of approximately £575,000 before expenses will be used to fund the planned
hardwood outdoor furniture marketing activities, and to provide additional
general working capital for the Group.'
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