Result of Successful Placing
Tesco PLC
13 January 2004
13 January 2004
This announcement does not and these materials do not constitute an offer to
sell or issue or the solicitation of an offer to buy or subscribe for ordinary
shares in the capital of the Company in the United States, Canada, Australia,
Japan or in any jurisdiction in which such offer or solicitation is unlawful and
the information contained herein is not for publication or distribution,
directly or indirectly, to persons in the United States, Canada, Australia,
Japan or any jurisdiction in which such publication or distribution is unlawful.
Tesco plc - Result of Successful Placing
Tesco is pleased to announce that, further to this morning's announcement of a
proposed Placing, 315 million new ordinary shares of 5 pence have been
successfully placed by Cazenove & Co. Ltd and Deutsche Bank AG London.
Following the accelerated bookbuilding process, the Placing Price has been set
at 248 pence per share, raising approximately £773 million, net of expenses.
Tesco has also granted an over-allotment option to Cazenove, on behalf of the
Joint Bookrunners, over an additional 45 million shares.
For further information:
Tesco plc:
Lucy Neville-Rolfe Tel: 01992 646606
Steve N Butler Tel: 01992 644800
Jonathan Church Tel: 01992 644645
Cazenove & Co. Ltd: Tel: (020) 7588 2828
John Paynter
Julian Cazalet
Deutsche Bank AG London Tel: (020) 7545 8000
Charlie Foreman
Phil Cowdy
The Placing Shares will be credited as fully paid and will rank equally in all
respects with the existing ordinary shares of 5 pence each in the share capital
of Tesco, including the right to receive all dividends and other distributions
declared, made or paid after the date of issue of the Placing Shares.
Application has been made to the United Kingdom Listing Authority for the
Placing Shares to be admitted to the official list maintained by the United
Kingdom Listing Authority, and for such shares to be admitted to trading by the
London Stock Exchange plc and the Irish Stock Exchange Limited on their markets
for listed securities.
This announcement does not constitute an invitation to underwrite, subscribe for
or otherwise acquire or dispose of any Tesco Shares. Past performance is no
guide to future performance and persons needing advice should consult an
independent financial adviser.
This announcement is not for distribution, directly or indirectly, in or into
the United States. This announcement is not an offer of Tesco Shares for sale
into the United States. The Tesco Shares have not been and will not be
registered under the U.S. Securities Act of 1933 and may not be offered or sold
in the United States unless they are registered or exempt from registration.
There will be no public offer of Tesco Shares in the United States.
Cazenove is acting for Tesco in connection with the Placing and no one else and
will not be responsible to anyone other than Tesco for providing the protections
afforded to clients of Cazenove nor for providing advice in relation to the
Placing.
Deutsche Bank is acting for Tesco in connection with the Placing and no one else
and will not be responsible to anyone other than Tesco for providing the
protections afforded to clients of Deutsche Bank nor for providing advice in
relation to the Placing.
In connection with the Placing, Cazenove will act as stabilising manager and, as
such, Cazenove or any person acting for Cazenove as stabilising manager may, in
connection with the Placing, over-allot or effect transactions with a view to
supporting the market price of the ordinary shares in Tesco at a level higher
than that which might otherwise prevail for a limited period after the Placing.
However, there will be no obligation on Cazenove or any agent of Cazenove so to
do. Such stabilising, if commenced, may be discontinued at any time and must be
brought to an end 15 February 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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