16th May 2007 15:47
SDL PLC16 May 2007 16 May 2007 SDL plc ("SDL" or the "Company") Result of Placing and Open Offer On 24 April 2007, SDL announced the proposed Placing and Open Offer of11,275,684 New Ordinary Shares at 355 pence per share. 3,720,976 New OrdinaryShares, which were conditionally placed with institutional and other investorssubject to clawback under the Open Offer, were offered to QualifyingShareholders by way of the Open Offer on the basis of 1 Open Offer Share forevery 16.878787 Existing Ordinary Shares. 7,554,708 New Ordinary Shares wereplaced with institutional and other investors and are not subject to clawback. The Company announces that valid acceptances have been received in respect of2,961,098 Open Offer Shares representing a total of approximately 79.6 per centof those Open Offer Shares available under the Open Offer. Following the numberof valid acceptances received from Qualifying Shareholders under the Open Offer,759,878 Open Offer Shares will be subscribed for by placees procured byInvestec. The Placing and Open Offer remains conditional, inter alia, upon the resolutionsto be put to the Extraordinary General Meeting due to be held at 9.00 am on the17th May 2007 being passed, admission of the New Ordinary Shares to listing onthe Official List of the UK Listing Authority and to trading on the London StockExchange's market for listed securities and the Acquisition becomingunconditional in all respects (save in respect of Admission). It is expectedthat Admission will become effective and that dealings in the New OrdinaryShares will commence at 8.00 am on 18 May 2007. SDL expects to announce tomorrow the result of the Extraordinary General Meetingdue to be held at 9.00 am on the 17th May 2007. Terms defined in the prospectus dated 24 April 2007 have the same meaning inthis announcement, save where the context otherwise requires. Enquiries SDL plc Tel: 01628 417 241 Mark Lancaster, Chief Executive Alastair Gordon, Finance Director Investec Investment Banking Tel: 020 7597 4000 Andrew Pinder, Director of Corporate Finance Investec Investment Banking, a division of Investec Bank (UK) Limited, which isauthorised and regulated by the Financial Services Authority and is a member ofthe London Stock Exchange, is acting exclusively for SDL in connection with theProposals and is not acting for any person other than SDL and will not beresponsible to any person other than SDL for providing the protections affordedto its customers or for providing advice on the transactions and arrangementsreferred to in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SDL.L