Result : Placing & Open Offer
Dechra Pharmaceuticals PLC
09 January 2008
The issuer has made the following amendment to the 'Result of Placing and Open
Offer' announcement released on 8 January 2008 at 16:30 under RNS number 3471L.
The Admission of the New Ordinary Shares became effective on 9 January 2008, and
not 9 January 2007 as previously indicated. A full corrected version of the
announcement is set out below:
8 January 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, MALAYSIA, CANADA,
AUSTRALIA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA
Dechra Pharmaceuticals PLC ('Dechra' or the 'Company')
Result of Placing and Open Offer
On 12 December 2007, the Company announced an Open Offer of 11,624,544 New
Ordinary Shares at an issue price of 303 pence per share to raise £35 million in
order to partly finance the proposed acquisition of VetXX Holding A/S ('VetXX').
The Open Offer has been fully underwritten by Dresdner Kleinwort Limited
('Dresdner Kleinwort').
Under the terms of the Placing Agreement, Dresdner Kleinwort has conditionally
placed the Open Offer Shares, subject to clawback to satisfy valid applications
from Qualifying Shareholders under the Open Offer, at the Open Offer price.
Qualifying Shareholders were invited to subscribe for Open Offer Shares on the
basis of 11 Open Offer Shares for every 50 existing Ordinary Shares held.
As a result of the Open Offer which closed at 10.30 a.m. today, valid
applications have been received from Qualifying Shareholders in respect of
8,849,097 shares (representing approximately 76.1 per cent. of the 11,624,544
Open Offer Shares available under the Open Offer). In accordance with the
arrangements set out in Part III of the Prospectus dated 13 December 2007,
Dresdner Kleinwort has procured acquirers for the remaining 2,775,447 New Shares
for which valid applications were not received, at a price of 303 pence per New
Share.
The Open Offer remains conditional upon the admission of the New Ordinary Shares
to trading on the London Stock Exchange and listing on the Official List of the
UK Listing Authority becoming effective.
The New Ordinary Shares, when issued and fully paid, will rank pari passu with
the Existing Ordinary Shares in all respects.
Admission of the New Ordinary Shares is expected to become effective on 9
January 2008.
Enquiries:
Ian Page, Chief Executive Fiona Tooley, Director
Simon Evans, Group Finance Director Keith Gabriel, Senior Account Manager
Dechra Pharmaceuticals PLC Citigate Dewe Rogerson
Tel: +44 (0) 1782 771100 Tel: +44 (0) 121 455 8370
Mobile:+44 (0) 7775 642222 (IP) Mobile: +44 (0)7785 703523 (FMT)
www.dechra.com
corporate.enquiries@dechra.com
Definitions used in the Prospectus shall have the same meanings when used in
this announcement unless the context otherwise requires.
Dresdner Kleinwort Limited, which is authorised and regulated by the Financial
Services Authority, is acting as financial adviser, sponsor and broker to Dechra
and is acting for no-one else in connection with the contents of this
announcement and will not be responsible to anyone other than Dechra for
providing the protections afforded to clients of Dresdner Kleinwort Limited, or
for affording advice in relation to the contents of this announcement or any
matters referred to herein.
The information contained in this announcement is not for release, publication
or distribution to persons in the United States, Canada, Japan, Malaysia, New
Zealand, South Africa or Australia or in any jurisdiction where to do so would
breach any applicable law.
This announcement is not an offer of securities for sale in, into or from the
United States, Canada, Japan, Malaysia, New Zealand, South Africa or Australia.
The New Ordinary Shares have not been and will not be registered under the US
Securities Act of 1933 (as amended) or under any relevant 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 Canada, Japan,
Malaysia, New Zealand, South Africa or Australia. Accordingly, the New Ordinary
Shares may not be offered, sold, taken up, exercised, resold, renounced,
transferred or delivered, directly or indirectly, within the United States
(absent registration or an applicable exemption from registration) or within
Canada, Japan, Malaysia, New Zealand, South Africa or Australia.
This information is provided by RNS
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