Results of Open Offer-Amended
Ashtead Group PLC
29 July 2005
Ashtead Group plc
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, FRANCE, JAPAN OR NEW ZEALAND
ASHTEAD GROUP PLC
The following amends the announcement issued today at 07.00 under RNS number
4637P and follows an administrative error in calculating the number of shares
taken up under the Open Offer. The correct number of shares taken up under the
Open Offer should read 39,457,054 rather than 39,181,620 as previously stated.
The correct version is set out below.
RESULTS OF OPEN OFFER
On 7 July 2005, Ashtead announced the conditional placing of 73,350,352 New
Ordinary Shares at an issue price of 95.5p each, of which 54,350,352 New
Ordinary Shares were subject to clawback by way of the Open Offer to existing
Shareholders on the basis of one New Ordinary Share for every six Existing
Ordinary Shares.
Of the 54,350,352 New Ordinary Shares available for take up under the Open
Offer, valid applications had been received by the close of the Open Offer at
3.00 p.m. on 28 July 2005 for 39,457,054 New Ordinary Shares. This represents
approximately 72.6% of the New Ordinary Shares offered under the Open Offer. The
14,893,298 New Ordinary Shares not being taken up under the Open Offer and the
19,000,000 New Ordinary Shares not subject to clawback by Shareholders under the
Open Offer will be taken up in accordance with the terms of the Placing and Open
Offer Agreement.
The Placing and the Open Offer remain conditional upon, among other things: (i)
the passing of certain Resolutions at the Extraordinary General Meeting; (ii)
the concurrent Debt Issue becoming unconditional; and (iii) Admission. It is
expected that Admission will take place, and that dealings in the New Ordinary
Shares will commence, on 3 August 2005 (immediately following the completion of
the Debt Issue).
Terms used in this Announcement shall have the same meanings as set out in the
Prospectus dated 7 July 2005.
ENQUIRIES:
Ashtead Group plc
George Burnett, Chief Executive Officer
Ian Robson, Chief Finance Officer +44 (0)1372 362300
JPMorgan Cazenove Limited
(Sponsor, financial adviser, joint broker and joint bookrunner)
Julian Oakley
Dermot McKechnie +44 (0)20 7588 2828
Evolution Securities Limited
(Joint broker, joint bookrunner and joint underwriter)
Steve Roberts
Stuart Andrew +44 (0)20 7071 4300
The Maitland Consultancy
(Public relations adviser)
Brian Hudspith +44 (0)20 7379 5151
JPMorgan Cazenove, which is regulated in the United Kingdom by the Financial
Services Authority, is acting as sponsor, financial adviser, joint broker and
joint bookrunner for Ashtead and no one else in connection with the Placing and
the Open Offer and will not be responsible to anyone other than Ashtead for
providing the protections afforded to its customers or for providing advice in
relation to the Placing and the Open Offer.
J.P. Morgan Securities (acting through JPMorgan Cazenove) is acting as joint
underwriter of the Placing and the Open Offer.
Evolution, which is regulated in the United Kingdom by the Financial Services
Authority, is acting as joint broker, joint bookrunner and joint underwriter for
Ashtead and no one else in connection with the Placing and the Open Offer and
will not be responsible to anyone other than Ashtead for providing the
protections afforded to its customers or for providing advice in relation to the
Placing and the Open Offer.
This Announcement has been issued by Ashtead and is the sole responsibility of
Ashtead. It has not been independently verified by JPMorgan Cazenove, Evolution
or any other person.
None of the New Ordinary Shares has been, nor will be, registered in the United
States under the United States Securities Act 1933, as amended (the 'Securities
Act'), or under the securities laws of Australia, Canada, France, Japan or New
Zealand and they may not, subject to certain exceptions, be offered, sold,
delivered or transferred, directly or indirectly, in or into the United States,
Australia, Canada, France, Japan or New Zealand or any other jurisdiction where
the extension or availability of the Placing and the Open Offer would breach any
applicable law (together, the 'Excluded Territories') or to, or for the account
or benefit of, any national, citizen or resident of any of the Excluded
Territories. Securities may not be offered or sold in the United States absent
registration or an exemption from registration under the Securities Act. There
is no public offer of the New Ordinary Shares in the United States.
This Announcement shall not constitute or form any part of any offer or
invitation to subscribe for, underwrite or otherwise acquire, or any
solicitation of any offer to purchase or subscribe for, securities including in
the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 16 hours ago Savannah Energy
- 17 hours ago Buccaneer Energy PLC
- 17 hours ago Savannah Energy
- 18 hours ago Carclo
- 18 hours ago Schroder Japan Growth Fund