Result of Equity Issue
Beazley Group PLC
13 December 2004
For publication in the United Kingdom only. Not for release, publication or
distribution into any other jurisdiction including the United States, Canada,
Japan, Australia or Republic of Ireland.
Beazley Group
13 December 2004
BEAZLEY GROUP PLC
Results of Rights Issue
Beazley Group plc, one of the Lloyd's market leaders, is pleased to announce
that the 4 for 7 Rights Issue of 131,134,115 New Ordinary Shares at 84 pence per
share as detailed in the Prospectus to Shareholders dated 1 November 2004 closed
at 9.30am on 10 December 2004.
The Company received valid acceptances in respect of 104,544,345 New Ordinary
Shares from Qualifying Shareholders, which represents an aggregate take-up of
approximately 79.7 per cent.
Subscribers have been procured for the 26,589,770 New Ordinary Shares for which
valid acceptances were not received, at a price of 84.25 pence per share. The
net proceeds from the sale of these New Ordinary Shares, after deduction of the
Issue Price of 84 pence per share and relevant costs, will be paid to Qualifying
Shareholders who have not taken up their entitlements, pro rata to their lapsed
provisional allotments in accordance with the terms of the Rights Issue. As a
result of the procurement of subscribers, neither Numis Securities Limited nor
the sub-underwriters will be required to subscribe for any New Ordinary Shares.
The Rights Issue was fully underwritten by Numis Securities Limited.
The directors of the Company in aggregate took up 603,098 New Ordinary Shares
pursuant to the Rights Issue.
It is expected that New Ordinary Shares in uncertificated form will be credited
to CREST accounts on 13 December 2004 and that definitive share certificates in
respect of New Ordinary Shares in certificated form will be dispatched to
shareholders by 17 December 2004.
Definitions used in the Prospectus apply in this announcement unless the context
otherwise requires.
13 December 2004
Enquiries:
Beazley Group plc Tel: 020 7667 0623
Andrew Beazley, Chief Executive
Andrew Horton, Group Finance Director
Finsbury Group Tel: 020 7251 3801
Melanie Gerlis
Nicola Hobday
Numis Securities Limited Tel: 020 7776 1500
Oliver Hemsley
Lexicon Partners Limited Tel: 020 7653 6000
Angus Winther
Numis Securities Limited, which is regulated in the United Kingdom by the
Financial Services Authority, is acting for the Company and no one else in
connection with the Rights Issue and Admission and will not be responsible to
anyone other than the Company for providing the protections afforded to the
customers of Numis Securities Limited or for providing advice in relation to the
Rights Issue or Admission.
Lexicon Partners Limited, which is regulated in the United Kingdom by the
Financial Services Authority, is acting for the Company and no one else in
connection with the Rights Issue and Admission and will not be responsible to
anyone other than the Company for providing the protections afforded to the
customers of Lexicon Partners Limited or for providing advice in relation to the
Rights Issue or Admission.
This announcement is not for release, publication or distribution, directly or
indirectly, in whole or in part, in or into the United States. This announcement
is not an offer of securities for sale into the United States or in any
jurisdiction in which such an offer or solicitation is unlawful. The securities
referred to in this announcement have not been and will not be registered under
the US Securities Act of 1933, as amended, (the 'US Securities Act') and may not
be offered, sold, transferred, taken up or delivered, directly or indirectly, in
or into the United States, absent registration or an exemption from registration
under the US Securities Act. No public offering of the securities will be made
in the United States.
This announcement does not constitute or form any part of, and should not be
construed as, an offer to sell, or the solicitation of an offer to subscribe
for, underwrite or acquire the New Ordinary Shares being issued in connection
with the Rights Issue. The New Ordinary Shares have not been, and will not be,
registered under the applicable securities laws of Canada, Australia, Japan or
the Republic of Ireland. Accordingly, unless an exemption under any applicable
laws is available, the New Ordinary Shares may not be offered, sold,
transferred, taken up or delivered, directly or indirectly, in or into Canada,
Australia, Japan or the Republic of Ireland or any other country outside the
United Kingdom where such distribution may otherwise lead to a breach of any law
or regulatory requirement.
This information is provided by RNS
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