Results of the Placing and Op
8 November 2010
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL
THIS ANNOUNCEMENT IS AN ADVERTISEMENT. IT IS NOT A PROSPECTUS. INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT SOLELY ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY XAAR PLC IN CONECTION WITH THE PROPOSED FUNDRAISING. COPIES OF THE PROSPECTUS ARE AVAILABLE FOR INSPECTION AT THE OFFICES OF SINGER CAPITAL MARKETS LIMITED, ONE HANOVER STREET, LONDON W1S 1YZ DURING NORMAL BUSINESS HOURS ON ANY WEEKDAY (SATURDAYS, SUNDAYS AND PUBLIC HOLIDAYS EXCEPTED) UP TO AND INCLUDING THE DATE WHICH IS ONE MONTH FOLLOWING ADMISSION.
Xaar plc
Results of the Placing and Open Offer
On 21 October 2010, the Board of Xaar plc (the "Company" or "Xaar"), the inkjet printing technology group headquartered in Cambridge, announced details of a share issue to raise gross proceeds of £15.0 million (approximately £14.0 million net of expenses) by the issue of 8,827,345 New Ordinary Shares of 10 pence each through the Placing and Open Offer at 170 pence per New Ordinary Share.
Defined terms used in this announcement shall have the same meaning as those terms defined and used in the prospectus published by the Company on 21 October 2010.
The commitments of Placees to subscribe for New Ordinary Shares to be issued pursuant to the Placing were subject to clawback to satisfy valid applications for New Ordinary Shares received from Qualifying Shareholders under the terms of the Open Offer.
The Open Offer closed for acceptances at 11.00 a.m. on 5 November 2010. The Company has received valid acceptances in respect of 8,158,762 New Ordinary Shares from Qualifying Shareholders. This represents approximately 92.4 per cent. of the New Ordinary Shares that were made available. The remaining 668,583 New Ordinary Shares, representing 7.6 per cent. of the New Ordinary Shares, have been allocated to the Placees with whom they had been conditionally placed.
The Placing and Open Offer remains conditional upon, amongst other things, the approval of Shareholders to the Resolution to be proposed at the General Meeting, to be held at 10.00 a.m. on 8 November 2010 and Admission occurring by no later than 8.00 a.m. on 11 November 2010 or such later time or date as the parties to the Placing Agreement may determine.
Application has been made to the UKLA for the New Ordinary Shares to be admitted to 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 on 11 November 2010 and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 11 November 2010.
The New Ordinary Shares, when issued and fully paid, will rank equally in all respects with the Existing Ordinary Shares.
For further information please contact:
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Xaar plc: |
+44 (0)1223 423663 |
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Ian Dinwoodie, Chief Executive |
www.xaar.com |
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Andrew Taylor, Finance Director |
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Singer Capital Markets Limited: |
+44 (0)20 3205 7500 |
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Shaun Dobson |
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Claes Spång |
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Bankside Consultants: |
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Simon Bloomfield |
+44 (0)20 7367 8888 / +44 (0)7771 758517 |
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors.
This information is provided by RNS
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