11th Apr 2007 13:47
Primary Health Properties PLC11 April 2007 11 April 2007 Primary Health Properties PLC ('the "Company") Result of Open Offer On 15 March 2007, the Company announced that, subject to shareholder approval,it intended to raise up to £38.6 million (net of expenses) by way of a Placingand Open Offer of up to 9,309,376 new ordinary shares of 50p each ('New OrdinaryShares') to be subscribed for at a price of 430p per New Ordinary Share. Of the New Ordinary Shares, 7,441,860 were placed firm. Of the maximum1,867,516 New Ordinary Shares to be issued pursuant to the Open Offer ("OpenOffer Shares"), 1,923 of the Open Offer Shares were the subject of irrevocableundertakings from certain Qualifying Shareholders to take up their entitlements. The Open Offer closed at 3pm on 10 April 2007. Valid applications were receivedin respect of 2,000,219 Open Offer Shares representing 107 per cent. of themaximum Open Offer Shares, an over-subscription of 132,703 Open Offer Shares.Applications for entitlement have been satisfied in full. Excess applicationshave been scaled back by approximately 14.5 per cent. The Placing and the Open Offer remain conditional, inter alia, upon the passingof the Resolutions to be proposed at the EGM to be held today and uponAdmission. The Company will announce separately the results of the EGM heldtoday. Application has been made to the London Stock Exchange for admission of the9,309,376 New Ordinary Shares to trading on the Official List. It is expectedthat Admission will become effective and that dealings in the New OrdinaryShares will commence on 12 April 2007. Unless the context otherwise requires, defined terms used in this announcementshall have the meanings given to them in the Company's announcement of 15 March2007. Enquiries, please contact: Bell Pottinger Corporate & Financial David Rydell/ Victoria Geoghegan Tel: 020 7861 3232 Primary Health Properties PLC Harry Hyman, Managing Director Tel: 01483 306 912 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Primary Health