Result of Equity Issue
Amlin PLC
2 July 2002
AMLIN PLC
FOR IMMEDIATE RELEASE
FOR PUBLICATION IN THE UNITED KINGDOM ONLY. NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY OTHER JURISDICTION, INCLUDING THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR
SOUTH AFRICA OR THEIR RESPECTIVE TERRITORIES OR POSSESSIONS.
Amlin plc
Result of Placing and Open Offer
On 11 June 2002, the Board of Amlin announced details of a Firm Placing of
52,023,864 New Amlin Shares and a Placing and Open Offer of 52,023,864 New Amlin
Shares at a price of 81p per New Amlin Share.
The Company announces that the Open Offer closed today at 3.00 pm. Under the
Open Offer, valid acceptances have been received from Qualifying Shareholders in
respect of 28,640,430 New Amlin Shares. This represents 60.0 per cent. of the
New Amlin Shares offered pursuant to the Open Offer excluding 4,284,168 New
Amlin Shares which were the subject of irrevocable undertakings from
Shareholders not to take up their entitlements under the Open Offer which were
placed firm with certain existing Shareholders and other institutional
investors. 19,099,266 New Amlin Shares, representing 47.0 per cent. of the New
Amlin Shares offered pursuant to the Open Offer (excluding the 4,284,168 New
Amlin Shares referred to above and the 7,078,515 New Amlin Shares which were the
subject of irrevocable undertakings from Shareholders to take up their
entitlements under the Open Offer), were not taken up by Shareholders and these
shares will be taken up by certain Shareholders and other institutional
investors under the Placing.
Under the Firm Placing a further 52,023,864 New Amlin Shares were placed by
Hoare Govett on a firm basis with certain existing Shareholders and other
institutional investors.
The Firm Placing and the Placing and Open Offer each remain conditional, inter
alia, upon the passing of the Resolutions to be proposed at the Extraordinary
General Meeting of the Company to be held at noon on 4 July 2002.
Application has been made for the New Amlin Shares to be admitted to the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities. It is expected that Admission will
become effective on 5 July 2002 and that dealings for normal settlement in the
New Amlin Shares will commence at 8.00 a.m. on 5 July 2002.
Words and expressions defined in the prospectus dated 11 June 2002 relating to
the Firm Placing and the Placing and Open Offer have the same meaning when used
in this announcement unless the context otherwise requires.
Enquiries:
Amlin
Charles Philipps Tel: 020 7746 1000
Richard Hextall Tel: 020 7746 1000
Hoare Govett Limited
Andrew Thompson Tel: 020 7678 8000
Haggie Financial Limited
David Haggie Tel: 020 7417 8989
This announcement does not constitute or form part of an offer, or any
solicitation of an offer, to acquire shares in Amlin.
This announcement is not an offer of existing Amlin ordinary shares or New Amlin
Shares for sale into the United States or to, or for the account or benefit of,
US persons. The existing Amlin ordinary shares and the New Amlin Shares have not
been and will not be registered under the US Securities Act of 1933 and may not
be offered or sold in the United States, or to or for the account or benefit of,
US persons unless they are registered or exempt from registration. There will be
no public offer of the New Amlin Shares in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
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