2nd Apr 2007 12:42
Cosalt PLC02 April 2007 2 April 2007 Cosalt plc RESULT OF PLACING OF NEW ORDINARY SHARES PLACING PRICE SET AT 354 PENCE PER NEW ORDINARY SHARES Cosalt plc ("Cosalt" or the "Company") announces that, further to theannouncement on 2 April 2007 (the "Announcement"), a total of 697,646 newordinary shares of 25 pence each in the Company (the "Placing Shares") have beenplaced with new and existing shareholders by Bridgewell Limited ("Bridgewell")at a price of 354 pence per Placing Share, raising gross proceeds ofapproximately £2.5 million (the "Placing"). Application has been made for, and the Placing is conditional upon, inter alia,admission of the Placing Shares to listing on the Official List maintained bythe UK Listing Authority and upon admission to trading by the London StockExchange plc on its main market for listed securities ("Admission"). It isexpected that Admission will become effective and dealings will commence in thePlacing Shares at 8:00 a.m. on 5 April 2007. Subject to the conditions being satisfied, the Placing Shares will be issuedcredited as fully paid and will rank pari passu in all respects with existingissued ordinary shares of 25 pence each in the capital of the Company, includingthe right to receive all dividends and other distributions declared, made orpaid on or in respect of such shares after the date of issue of the PlacingShares save that they will not rank for the final dividend of 12.75p to be paidin respect of the financial year ended 29 October 2006 on 4 April 2007. Enquiries: Cosalt plc 01472 504504Per JonssonNeil Carrick Bridgewell Limited 020 7003 3000Ben Money-CouttsSimon Robinson Defined terms in this announcement have, unless the context otherwise requires, the same meaning given to them in the Announcement. This announcement has been issued by and is the sole responsibility of Cosalt. Bridgewell is acting for the Company and no-one else in relation to the Placingand will not be responsible to any person other than the Company for providingthe protections afforded to clients of Bridgewell or for providing advice inrelation to the Placing or in relation to the contents of this announcement orany other transaction, arrangement or matter referred to herein. This announcement is for information purposes only and does not constitute anoffer to issue or sell, or the solicitation of an offer to acquire or buy, anysecurities to any person in any jurisdiction. In particular, this announcementdoes not constitute an offer to issue or sell, or the solicitation of an offerto acquire, buy or subscribe for, any securities in the United States, Canada,Australia, South Africa or Japan. The Placing Shares have not been, nor will they be, registered under theSecurities Act or with any securities regulatory authority of any State or otherjurisdiction of the United States, and accordingly may not be offered, sold ortransferred within the United States except pursuant to an exemption from, or ina transaction not subject to, registration under the Securities Act. No publicoffering of the Placing shares will be made in the United States. The PlacingShares are being offered and sold only outside the United States to persons whoare not U.S. persons as defined in and in accordance with Regulation S under theSecurities Act ("U.S. Persons"). The Company has not been and will not beregistered under the Investment Company Act and investors will not be entitledto the benefits of such registration. Any indication in this announcement of the price at which Ordinary Shares havebeen bought or sold in the past cannot be relied upon as a guide to futureperformance. No statement in this announcement is intended to be a profitforecast or dividend forecast and no statement in this announcement should beinterpreted to mean that earnings per share of the Company for the current orfuture financial years would necessarily match or exceed the historicalpublished earnings per share of the Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CSLT.L