3rd Sep 2008 07:00
02 SEPTEMBER 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
PROPOSED SECONDARY PLACING OF ORDINARY SHARES IN SPIRENT COMMUNICATIONS PLC ("SPIRENT")
UBS Limited ("UBS") and RBS Hoare Govett Limited ("RBS Hoare Govett") announce an accelerated bookbuild secondary placing of up to 75.0 million ordinary shares in Spirent (the "Placing"), subject to demand, price and market conditions.
The amount of the Placing proceeds, the number of ordinary shares in the Placing and the placing price will be decided at the close of the accelerated bookbuilding period following agreement between UBS, RBS Hoare Govett's affiliate ABN AMRO Bank N.V. and the selling shareholder, and a further announcement will be made at that time.
The books for the Placing will open with immediate effect. Pricing and allocations are expected to be announced as soon as practicable following the closing of the books. The timing of closing of the books will be at the absolute discretion of UBS and RBS Hoare Govett.
Enquiries:
UBS Limited, Tel: +44 (0)20 7567 8000
Peter Luck
Pascal Guttieres
RBS Hoare Govett Limited, Tel: +44 (0)20 7678 8000
Andrew Foster
Luke Simpson
UBS Limited ("UBS") is acting for the selling shareholder on the Placing and will not be responsible to anyone other than its client for providing the protections afforded to its clients, nor for providing advice in relation to the placing, the contents of this announcement, or any transaction or arrangement referred to herein.
RBS Hoare Govett Limited and ABN AMRO Bank N.V., which are authorised and regulated by the Financial Services Authority, are acting exclusively for the selling shareholder in relation to the Placing and the matters described in this announcement and are not acting for any other person in relation to the Placing and will not be responsible to anyone other than their client for providing the protections afforded to clients of RBS Hoare Govett or ABN AMRO Bank N.V., nor for providing advice in relation to the Placing or any matters referred to herein..
Related Shares:
Spirent