27th Mar 2007 07:05
Wood Group (John) PLC27 March 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN John Wood Group PLC - Selling Shareholders offering up to 50 million OrdinaryShares of John Wood Group PLC. 27 March 2007 John Wood Group PLC (the "Company" or "Wood Group") announces that it has beeninformed by Sir Ian Wood, his family trusts and certain members of his family(together the "Selling Shareholders") that they intend to offer for sale up to50 million existing ordinary 3 1/3p shares (the "Shares") of the Company,representing approximately 9.6 per cent of the issued share capital of theCompany, and about 28% of the family holding (the "Placing"). The move follows advice from financial advisers to the family that they, and inparticular the family trusts, should diversify their investments. The SellingShareholders have no current intention to make further share sales, andcertainly not in the next 12 months. Following the Placing, the Wood familywill hold approximately 24 per cent of the Company's issued share capital. Commenting on the Placing, Sir Ian Wood said: "I, my family Trusts and somefamily members have chosen to sell a number of shares in order to diversify ourfinancial assets. For my immediate family, this is our first sale since theIPO in June 2002. The timing is based solely on independent advice ondiversification. "I personally remain totally committed to Wood Group both as full time Chairmanand as a significant investor. A large part of my family's wealth continues tobe invested in Wood Group and I have every confidence in the Company's prospectsin the future". The Placing will take place via an accelerated bookbuild. Credit SuisseSecurities (Europe) Limited ("Credit Suisse") and JPMorgan Cazenove Limited ("JPMorgan Cazenove") have been appointed as Joint Bookrunners in respect of thePlacing. The books for the Placing will open with immediate effect. The results of thePlacing are expected to be announced as soon as possible following the closingof the books. The timing of the closing of the books will be at the absolutediscretion of Credit Suisse and JPMorgan Cazenove. Contacts: John Wood Group PLC +44 1224 851 000 Nick Gilman Credit Suisse +44 20 7888 8888 James Leigh-Pemberton Richard Crawley JPMorgan Cazenove +44 20 7588 2828 John Paynter Shona Graham MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THISANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSEDTO AND DIRECTED AT PERSONS WHO (1) ARE QUALIFIED INVESTORS WITHIN THE MEANING OFDIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE " PROSPECTUSDIRECTIVE"); (2) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTSWHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000(FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER"); OR (3) ARE PERSONS FALLINGWITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER (ALL SUCH PERSONS REFERRED TO IN(1), (2) AND (3) TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THEINFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTEDON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT ORINVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TORELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. This announcement has been issued by Wood Group and is the sole responsibilityof Wood Group. This announcement is for information purposes only and does notconstitute an offer or an invitation to acquire or dispose of any securities ofWood Group in the United States, Canada, Australia or Japan or in any otherjurisdiction in which such an offer of solicitation is unlawful. The Shares havenot been, and will not be, registered under the United States Securities Act of1933, as amended, and may not be offered or sold in the United States absentregistration or an exemption from registration. There will be no public offeringof securities in the United States. Any investment decision to buy securities in the Placing must be made solely onthe basis of publicly available information which has not been independentlyverified by Credit Suisse or JPMorgan Cazenove. Neither this announcement nor any copy of it may be taken, transmitted ordistributed, directly or indirectly in or into the United States, Canada,Australia or Japan. Any failure to comply with this restriction may constitute aviolation of United States, Canadian, Australian or Japanese securities laws. The distribution of this announcement and the offering or sale of the Shares incertain jurisdictions may be restricted by law. No action has been taken by WoodGroup, or any of their respective affiliates, or any other person that wouldpermit an offer of the Shares or possession or distribution of this announcementor any other offering or publicity material relating to the Shares in anyjurisdiction where action for that purpose is required. Persons into whosepossession this announcement comes are required by Wood Group to informthemselves about and to observe any such restrictions. Credit Suisse and JPMorgan Cazenove are acting for the Selling Shareholders onlyin connection with the Placing, and no one else, and will not be responsible toanyone other than the Selling Shareholders for providing the protections offeredto clients of Credit Suisse and JPMorgan Cazenove nor for providing advice inrelation to the Placing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wood Group (J)