12th Jan 2006 07:01
Standard Chartered PLC12 January 2006 12 January 2006 Standard Chartered announces the completion of the acquisition of a 20% interestin Fleming Family & Partners Limited and the issue of 3,401,290 ordinary shares of Standard Chartered PLC On 7 December 2005, Standard Chartered PLC ("Standard Chartered") announced thatit had launched an offer to acquire 20% of Fleming Family & Partners Limited.Standard Chartered now announces the completion of that acquisition and theissue and allotment of 3,401,290 Standard Chartered ordinary shares of US$0.50each (the "Shares") as the share element of the consideration. The number ofShares issued is based on the volume-weighted average price of StandardChartered ordinary shares of US$0.50 each of £13.01431 (approximately HK$178) on10 and 11 January 2006. The balance of the consideration, being £0.7m(HK$9.5m), will be satisfied in cash. The Shares being issued represent approximately 0.26% of Standard Chartered'sissued share capital prior to completion of the acquisition and approximately0.26% of Standard Chartered's issued share capital immediately after completionof the acquisition. The Shares are being issued under the general mandategranted to the Board of Directors at the annual general meeting of StandardChartered on 5 May 2005. Permission has been granted for admission of the Shares to listing on the UKOfficial List and to trading on the London Stock Exchange, and application hasbeen made for permission for the listing of the Shares, and to deal in theShares, on The Stock Exchange of Hong Kong Limited. Trading in the Shares isexpected to commence on the London Stock Exchange on 12 January 2006 and on TheStock Exchange of Hong Kong Limited on 13 January 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Standard Chartered