Information  X 
Enter a valid email address

UTV Media PLC (UTV)

  Print      Mail a friend       Annual reports

Tuesday 15 July, 2008

UTV Media PLC

Results of Rights Issue

RNS Number : 0496Z
UTV Media PLC
15 July 2008
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OR INTO ANY JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW.


15 July 2008


For Immediate Release


UTV Media plc

(''UTV' or the 'Company')


Results of Rights Issue


UTV Media plc announces that it has received valid acceptances in respect of 15,909,423 Rights Issue Shares, representing approximately 41.5 per cent. of the total of 38,361,011 new Ordinary Shares offered to Qualifying Shareholders (other than certain Overseas Shareholders) pursuant to the 2 for 3 Rights Issue at 130 pence per Rights Issue Share announced on 4 June 2008 which closed at 11.00 a.m. on 14 July 2008.


Other than in relation to an aggregate of 662,237 Rights Issue Shares in respect of which the Directors had irrevocably undertaken to take up their rights pursuant to the Rights Issue, the Rights Issue was fully underwritten by the Joint Underwriters, Numis and Goodbody Stockbrokers.


In accordance with the arrangements set out in Part 7 of the prospectus dated 4 June 2008 (the 'Prospectus')the Joint Underwriters will be seeking subscribers for the remaining 22,451,588 Rights Issue Shares for which valid acceptances were not received.  Substantially all of the remaining 22,451,588 Rights Issue Shares have been sub-underwritten by institutional investors.


Any premium over the aggregate of the Rights Issue Price of 13pence per Rights Issue Share and the expenses of procuring subscribers (including any applicable commissions and VAT) will be paid to Shareholders that have not taken up their entitlements pro rata to their lapsed provisional allotments, except that in each case individual amounts of less than three pounds (£3) will not be paid but will be aggregated and retained by the Company.


A further announcement will be made in due course in respect of the remaining Rights Issue Shares for which valid acceptances were not received.


The Rights Issue Shares will rank pari passu in all respects with the Existing Ordinary Shares, including the right to all future dividends and other distributions declared, made or paid.


Definitions used in the Prospectus apply to this announcement unless the context otherwise requires.


For further information contact:


UTV Media plc:

John McCannGroup Chief Executive 

Paul O'BrienGroup Finance Director

Telephone: +44 (0) 28 90 262032


Orla McKibbinHead of Communications

Telephone: +44 (0) 7879 666427


Maitland:

Anthony Silverman

Telephone: +44 (0) 20 7379 5151


Numis Securities Limited:

Jag Mundi

Christopher Wilkinson

James Serjeant

Telephone: +44 (0) 20 7260 1000


Goodbody Corporate Finance:

Kevin Keating

Telephone: +353 (0) 1 667 0420


Numis, which is regulated in the United Kingdom by the Financial Services Authority, is acting for the Company and for no one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Numis or for providing advice in relation to the Rights Issue and/or the contents of this announcement.


Goodbody Corporate Finance, which is regulated in the Republic of Ireland by the Financial Regulator, is acting for the Company and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Goodbody Corporate Finance or for providing advice in relation to the Rights Issue and/or the contents of this announcement.


Goodbody Stockbrokers, which is regulated in the Republic of Ireland by the Financial Regulator, is acting for the Company and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Goodbody Stockbrokers or for providing advice in relation to the Rights Issue and/or the contents of this announcement.


This announcement does not constitute an offer to sell or the solicitation of an offer to acquire the Rights Issue Shares or to take up entitlements to Nil Paid Rights in any jurisdiction in which such an offer or solicitation is unlawful. None of the Existing Ordinary Shares, the Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares or the Provisional Allotment Letters have been or will be registered under the United States Securities Act of 1933 (as amended) or under the applicable securities laws of any state or other jurisdiction of the United States and will not qualify for distribution under any of the relevant securities laws of any of the Excluded Jurisdictions. Accordingly, unless a relevant exemption from such requirements is available, none of the Existing Ordinary Shares, the Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares or the Provisional Allotment Letters may, subject to certain exceptions, be offered, sold, resold, taken up, exercised, renounced, transferred or delivered, directly or indirectly, in or into the United States or any Excluded Jurisdiction or in any country, territory or possession where to do so may contravene local securities laws or regulations. Shareholders who believe that they, or persons on whose behalf they hold Existing Ordinary Shares, are eligible for an exemption from such requirements should refer to the Prospectus sent to Shareholders to determine whether and, if so, how they may participate in the Rights Issue. Overseas Shareholders and any person (including, without limitation, custodians, nominees and trustees) who has a contractual or other legal obligation to forward this announcement or the Provisional Allotment Letter in or into a jurisdiction outside the United Kingdom or the Republic of Ireland should read refer to the Prospectus sent to Shareholders.



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBRGDRLSBGGIS