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Flybe Group Plc (FLYB)

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Monday 10 March, 2014

Flybe Group Plc

Result of Firm Placing & Placing & Open Offer

RNS Number : 8773B
Flybe Group PLC
10 March 2014
 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

THIS ANNOUNCEMENT, WHICH DOES NOT CONSTITUTE A PROSPECTUS OR DOCUMENT EQUIVALENT TO A PROSPECTUS, IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER.

 

CAPITALISED TERMS USED IN THIS ANNOUNCEMENT HAVE THE MEANINGS GIVEN TO THEM IN THE PROSPECTUS.

 

Flybe Group plc

('Flybe' or the 'Company')

Result of Firm Placing and Placing and Open Offer

On 20 February 2014, the Board of Directors of Flybe announced details of the Firm Placing and Placing and Open Offer of New Ordinary Shares to raise gross proceeds of approximately £155.65 million through the issue of 91,400,000 Firm Placed Shares and 50,101,920 Open Offer Shares, both at an issue price of 110 pence per New Ordinary Share.  The Open Offer Shares pursuant to the Placing were subject to clawback to satisfy valid applications by Qualifying Shareholders pursuant to the Open Offer. The Firm Placed Shares were not subject to clawback and were not part of the Open Offer.

The Open Offer closed for acceptance at 11.00 a.m. on 7 March 2014. The Company announces that it has received valid acceptances in respect of 44,022,567 New Ordinary Shares from Qualifying Shareholders under the Open Offer. This represents approximately 87.9 per cent of the Open Offer Shares offered. Of the valid acceptances received, 38,252,456 New Ordinary Shares were satisfied pursuant to the Open Offer (representing all of the valid acceptances received in relation to Open Offer Entitlements) and 5,770,111 New Ordinary Shares were satisfied pursuant to the Excess Application Facility (all valid applications for Excess Shares were satisfied in full).

The remaining 6,079,353 New Ordinary Shares under the Open Offer, representing approximately 12.1 per cent of the Open Offer Shares, have been allocated to the placees with whom they had been conditionally placed under the terms of the Placing.

The Firm Placing and Placing and Open Offer are conditional, amongst other things, upon Admission occurring at 8:00 a.m. on 12 March 2014 (or such later time and/or date as the Company and Liberum Capital may agree).

Application has been made to the UKLA for the 141,501,920 New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8:00 a.m. on 12 March 2014.

The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares including the right to receive all dividends and other distributions (if any) declared, paid or made by Flybe after Admission. The New Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on or around 8.00 a.m. on 12 March 2014 and definitive share certificates for the New Ordinary Shares are expected to be despatched to certificated shareholders within seven days of Admission.

This announcement should be read in conjunction with the full text of the prospectus published by Flybe and sent to Shareholders on 20 February 2014 (the 'Prospectus'), copies of which are available on the Company's website at www.flybe.com/corporate/investors. Capitalised terms in this announcement have the same meaning as in the Prospectus.

10 March 2014

 

Enquiries:

 

Flybe

Tel: +44 20 7457 2020

Saad Hammad, Chief Executive Officer


Andrew Knuckey, Chief Financial Officer




Liberum

Tel: +44 20 3100 2222

Peter Tracey


Richard Crawley

Tom Fyson

Jamie Richards




Instinctif Partners

Tel: +44 20 7457 2020

Mark Garraway


Helen Tarbet


 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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