29th Mar 2007 08:59
Asian Citrus Holdings Ltd29 March 2007 This announcement is not for release, publication or distribution, directly orindirectly, in or into the United States, Canada, South Africa, Australia, Japanor any jurisdiction in which the same would be unlawful. This announcement isnot an offer of securities in the United States, Canada, South Africa,Australia, Japan or any jurisdiction in which the same would be unlawful. Asian Citrus Holdings Limited ("Asian Citrus") For immediate release 29 March 2007 Results of the placing of ordinary shares in Asian Citrus of HK0.10 each ("Ordinary Shares") (the "Placing") Further to the announcement of the Placing yesterday and following thecompletion of a bookbuilding process, Asian Citrus announces details of thepricing and size of the Placing. o 8,333,333 new Ordinary Shares ("New Ordinary Shares") have been placed by JPMorgan Cazenove at a price of 240 pence per New Ordinary Share (the "Placing Price"). o The New Ordinary Shares represent 11.2 per cent of the issued share capital of Asian Citrus as enlarged by the New Ordinary Shares and the 3.4 million Ordinary Shares issued pursuant to the conversion of convertible bonds issued by Asian Citrus due 2008 which were held by Metage Funds Limited and Metage Emerging Markets Fund Limited ("Conversion Shares"). o The proceeds receivable by Asian Citrus, net of expenses, are approximately £18 million. o Application has been made for, and the Placing is conditional upon, admission of the New Ordinary Shares and the Conversion Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on AIM on 3 April 2007. o Immediately following Admission, Asian Citrus will have an issued share capital of 74,084,258 Ordinary Shares, each carrying one voting right. There are no shares in treasury and there is no other class of shares in issue which has voting rights. o No existing Ordinary Shares have been sold by shareholders of the Company. ENQUIRIES: JPMorgan Cazenove +44 (0) 207 588 2828(NOMAD & broker to Asian Citrus)Michael Wentworth-StanleyAlex Yule-SmithJames Mitford Weber Shandwick Financial +44 (0) 207 067 0700(Financial PR)Terry GarrettJohn MoriartyHelen Thomas This announcement is for information only and does not constitute an offer orinvitation to underwrite, subscribe for or otherwise acquire or dispose of anysecurities or investment advice in any jurisdiction. Past performance is noguide to future performance. Persons needing advice should consult anindependent financial adviser. This announcement does not constitute an offer to sell or issue, or thesolicitation of an offer to buy or subscribe for, securities in the UnitedStates, Canada, South Africa, Australia or Japan or any jurisdiction in whichsuch offer or solicitation is unlawful and should not be relied upon inconnection with any decision to acquire Ordinary Shares or other securities inthe capital of Asian Citrus. There will be no public offer of Ordinary Shares inthe United States, the United Kingdom or elsewhere. Members of the public are not eligible to take part in the Placing. Thisannouncement is only addressed to and directed at (a) "qualified institutionalbuyers" (as defined in Rule 144A under the US Securities Act of 1933, as amended(the "Securities Act")), (b) a "Qualified Investor" (within the meaning ofArticle 2(1)(e) of the Prospectus Directive (Directive 2003/71EC)) in theEuropean Economic Area; (c) "relevant persons" (as defined below) in the UnitedKingdom; (d) an institutional investor as defined in the Securities and FuturesAct (Chapter 289 of Singapore) (the "SFA") or a relevant person as defined insection 275(2) of the SFA or a person to whom an offer referred to in section275(1A) of the SFA is to be made; (e) a "professional investor" as defined inthe Securities and Futures Ordnance, Chapter 571 of the Laws of Hong Kong andany rules made thereunder; and (f) persons outside the United States, EuropeanEconomic Area, the United Kingdom, Singapore, Hong Kong, Japan, Canada andAustralia. "Relevant persons" are persons whose ordinary activities involvethem in acquiring, holding, managing and disposing of investments (as principalor agent) for the purposes of their business and who have professionalexperience in matters relating to investments and are persons who: (a) fallwithin article 19(5) of the Financial Services and Markets Act 2000 (FinancialPromotion) Order 2005, as amended ("the Order") or are persons falling withinarticle 49(2)(a) to (d) ("high net worth companies, unincorporated associations,etc") of the Order; and (b) are qualified investors within the meaning ofsection 86(7) of the Financial Services and Markets Act 2000, as amended; and(c) have been invited to participate in the placing by JPMorgan Cazenove. Asian Citrus and JPMorgan Cazenove and their respective affiliates, have relied,and will rely, upon the truth and accuracy of the foregoing representations,warranties, acknowledgements and agreements and those representations,warranties, acknowledgements and agreements provided by placees at the time thatthey made an oral offer to acquire Ordinary Shares under the Placing. This announcement is for information purposes only and does not constitute anoffer to sell or issue, or the solicitation of an offer to buy or subscribe for,securities in the United States or in any other jurisdiction. Ordinary Shares have not been and will not be registered under the US SecuritiesAct of 1933, as amended and may not be offered or sold in the United Statesunless registered under the Securities Act or an exemption from suchregistration is available. There will be no public offering of Ordinary Sharesin the United States, the United Kingdom or elsewhere. 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 US, Canadian, Australian or Japanese securities laws. The distribution of this announcement and the offering or sale of OrdinaryShares in certain jurisdictions may be restricted by law. No action has beentaken by JPMorgan Cazenove, or any of its affiliates, that would permit an offerof the Ordinary Shares or possession or distribution of this announcement or anyother offering or publicity material relating to the Ordinary Shares in anyjurisdiction where action for that purpose is required. Persons into whosepossession this announcement comes are required by JPMorgan Cazenove to informthemselves about and to observe any such restrictions. This announcement has been issued by and is the sole responsibility of AsianCitrus. JPMorgan Cazenove and its respective affiliates and agents shall have noliability for any information contained in it relating to Asian Citrus. JPMorgan Cazenove, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for Asian Citrus and noone else in connection with the Placing and Admission and will not beresponsible to any other person as its client or be responsible to any otherperson for providing the protections afforded to clients of JPMorgan Cazenove orfor providing advice in relation to the Placing or in relation to the contentsof this announcement or for any other transaction, arrangement or mattersreferred to in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ACHL.L