Launch of Share Placing
IG Group Holdings plc
25 July 2006
Not for release or distribution or publication in whole or part in or into the
United States, Canada, Japan or Australia.
25 July 2006
IG GROUP HOLDINGS PLC
('IG Group' or the 'Company')
Launch of Share Placing in IG Group by IG Group's directors, employees and their
related interests
IG Group Holdings plc ('IG Group' or the 'Company') (the 'Selling
Shareholders'), announces today the commencement of an accelerated bookbuilt
secondary placing (the 'Placing') of up to 20,098,650 million ordinary shares of
0.005p in IG Group (the 'IG Group Shares') by a number of IG Group's directors,
employees and their related interests. The Placing represents up to 6.1% of the
outstanding issued share capital of IG Group. UBS Limited ('UBS') is acting as
sole global co-ordinator and bookrunner.
The sale price will be determined and announced after closing of the accelerated
bookbuilding process. The timing of closing of the bookbuilding process will be
determined in due course by UBS.
Immediately prior to the launch of the Placing IG Group's directors, employees
and their related interests were interested, in aggregate, in 45.2 million IG
Group Shares representing approximately 13.8% of IG Group's issued share
capital. Assuming the Placing is completed in full, IG Group's directors and
employees and their related parties will be interested in, in aggregate, 24.9
million IG Group Shares representing approximately 7.6% of IG Group's issued
share capital. Assuming the Placing proceeds in full, the free float of the
Company will increase to approximately 85%.
The IG Group Shares are being placed in order to allow IG Group's directors and
employees and their related parties to realise part of their investment in IG
Group. Shares representing 49.8% of the total IG Group Shares to be placed are
being sold by Nat le Roux. As indicated on 26 May, Nat will step down from the
role of Chief Executive once a new Finance Director has been appointed. Assuming
the Placing proceeds in full, Tim Howkins, Finance Director and Chief Executive
Designate will sell 1,500,000 shares or 39.3% of the shares currently available
for him to sell, and will retain a holding of 4,081,800 shares representing 1.2%
of the Company.
The remaining shares of the executive directors, including those of Nat le Roux,
will continue to be governed by lock-in arrangements, which regulate the sale of
shares in which directors are interested, until the announcement of Preliminary
Results for the year ending May 2007, in respect of 9.8 million shares
(approximately 3.0% of IG Group's issued share capital).
Enquiries:
IG Group
Tim Howkins Tel: +44 (0) 20 7896 0011
Financial Dynamics
Rob Bailhache Tel: +44 (0) 20 7269 7200
Nick Henderson
UBS Limited
Christopher Smith Tel: + 44 (0)20 7568 4389
Tom Shippey Tel: + 44 (0)20 7568 7320
MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS
ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED
TO AND DIRECTED AT PERSONS WHO ARE (1) QUALIFIED INVESTORS WITHIN THE MEANING OF
DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE ' PROSPECTUS
DIRECTIVE') AND (2) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO
INVESTMENTS WHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS
ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE 'ORDER') OR ARE PERSONS FALLING
WITHIN ARTICLE 49(2)(A) TO (D) ('HIGH NET WORTH COMPANIES, UNINCORPORATED
ASSOCIATIONS, ETC') OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS
'RELEVANT PERSONS'). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS
ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT
PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT
RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH
RELEVANT PERSONS.
This announcement does not constitute or form part of any offer of securities,
or constitute a solicitation of any offer to purchase or subscribe for
securities. Neither this announcement nor any copy of it may be taken, released,
published, transmitted or distributed, directly or indirectly in or into the
United States, Canada, Australia or Japan, or any jurisdiction where such
announcement would be unlawful. Any failure to comply with this restriction may
constitute a violation of United States, Canadian, Australian or Japanese
securities laws, or any jurisdiction where such announcement would be unlawful.
No action has been taken by the Selling Shareholders, or any of their respective
affiliates, or any other person that would permit an offer of the Placing Shares
or possession or distribution of this announcement or any other offering or
publicity material relating to the Placing Shares in any jurisdiction where
action for that purpose is required. Persons into whose possession this
announcement comes into should inform themselves about and observe any such
restrictions.
This announcement does not constitute an offer of securities for sale in any
jurisdiction, including the United States. The securities referred to herein
have not been and will not be registered under the US Securities Act of 1933
(the 'Securities Act'), and may not be offered or sold in the United States
unless they are registered under the Securities Act or pursuant to an available
exemption therefrom. No public offering of securities of IG Group Holdings plc
is being made in the United States.
Any investment decision to buy securities in the Placing must be made solely on
the basis of publicly available information which has not been independently
verified by UBS or the Selling Shareholders.
UBS are acting for the Selling Shareholders only in connection with the Placing,
and no one else, and will not be responsible to anyone other than the Selling
Shareholders for providing the protections offered to clients of UBS nor for
providing advice in relation to the Placing.
This does not constitute a recommendation concerning the Placing. The value of
shares can go down as well as up. Past performance is not a guide to future
performance. Potential investors should consult a professional adviser as to the
suitability of any offering for the individual concerned.
This information is provided by RNS
The company news service from the London Stock Exchange
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