Results of the rights issue
Senior PLC
11 October 2006
For immediate release
Senior plc
11 October 2006
FOR PUBLICATION IN THE UNITED KINGDOM ONLY. NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION INTO ANY OTHER JURISDICTION INCLUDING THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA, OR IN OR INTO ANY OTHER
JURISDICTION WHERE THE EXTENSION OR AVAILABILITY OF THE RIGHTS ISSUE WOULD
BREACH ANY APPLICABLE LAW.
Senior plc ('Senior' or the 'Company')
Results of Rights Issue
Senior announces that the 1 for 5 Rights Issue of 64,960,962 New Ordinary Shares
at 42 pence per New Ordinary Share as detailed in the Prospectus to
Shareholders dated 19 September 2006, closed for acceptance at 11.00 a.m. on 10
October 2006.
The Company received valid acceptances in respect of 62,678,871 New Ordinary
Shares, which represents an aggregate take-up of approximately 96.49 per cent.
of the total number of New Ordinary Shares offered to Shareholders pursuant to
the Rights Issue.
Hoare Govett has procured subscribers for the remaining 2,282,091 New Ordinary
Shares for which valid acceptances were not received, at a price of 55 pence
per New Ordinary Share. Accordingly, sub-underwriters will not be required to
acquire any New Ordinary Shares.
The net proceeds, after the deduction of the Rights Issue Price of 42 pence per
share and the expenses of procuring acquirers, will, save for amounts less than
£5, be paid pro rata to those persons whose rights have lapsed in accordance
with the terms of the Rights Issue.
It is expected that the New Ordinary Shares in uncertificated form will be
credited to CREST accounts on 11 October 2006 and that definitive share
certificates in respect of New Ordinary Shares in certificated form will be
despatched to Shareholders by 18 October 2006.
Definitions used in the prospectus dated 19 September 2006 apply in this
announcement unless the context otherwise requires.
Enquiries:
Senior plc
Graham Menzies, Group Chief Executive 01923 714702
Mark Rollins, Group Finance Director 01923 714738
Hoare Govett Limited 020 7678 8000
Antonia Rowan
Julian Goodwin
Sean Wegerhoff
John MacGowan
Finsbury Group 020 7251 3801
James Murgatroyd
Adrian Howard
Other information
This announcement has been issued by, and is the sole responsibility of, Senior
plc.
Hoare Govett Limited, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting as sole sponsor, financial adviser,
corporate broker and underwriter to the Company and no one else in connection
with the Acquisition and the Rights Issue and will not be responsible to anyone
other than the Company for providing the protections afforded to clients of
Hoare Govett Limited or for providing advice in relation to the Acquisition,
the Rights Issue or for any other matters referred to in this announcement.
This announcement should not be distributed, forwarded to or transmitted in or
into the United States, Australia, Canada, Japan, New Zealand or South Africa,
or in or into any other jurisdiction where doing so may or would breach any
applicable law.
No offer, invitation or inducement to acquire shares or other securities in the
Company is being made by or in connection with this announcement.
The New Ordinary Shares have not been and will not be registered under the
Securities Act or under any relevant securities laws of any state or other
jurisdiction of the United States and may not be offered or sold, directly or
indirectly, within the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act and in
compliance with state securities laws. The New Ordinary Shares have not been
approved or disapproved by the SEC, any state securities commission in the
United States or any US regulatory authority, nor have any of the foregoing
authorities passed upon or endorsed the merits of the offering of the New
Ordinary Shares or the accuracy or adequacy of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund