9th Feb 2007 11:48
FirstGroup PLC09 February 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. 9 February 2007 FirstGroup plc ("FirstGroup" or the "Company") RESULT OF EQUITY PLACING TO RAISE APPROXIMATELY £200 MILLION FirstGroup is pleased to announce the successful completion of the placingannounced earlier today (the "Placing"). A total of 39,527,477 new ordinary shares of 5 pence each (the "Placing Shares")issued by the Company have been placed with institutions at a price of 560 penceper Placing Share. Based on the placing price, the gross proceeds areapproximately £221 million. The Placing Shares being issued representapproximately 9.99 per cent of FirstGroup's issued ordinary share capital priorto the Placing. The Placing Shares will, when issued, be credited as fully paid and will rankequally in all respects with the existing issued ordinary shares of 5 pence eachin the capital of the Company including the right to receive all futuredividends and other distributions declared, made or paid in respect of suchordinary shares after the date of their issue of the Placing Shares. Application has been made for, and the Placing is conditional on, inter alia,admission of the Placing Shares to listing on the Official List maintained bythe UK Listing Authority and admission to trading by the London Stock Exchangeplc on its market for listed securities (together, "Admission"). Admission isexpected to take place, settlement to occur and dealing in the Placing Shares tocommence at 8.00a.m. on 14 February 2007. ENQUIRIES: FirstGroupMoir Lockhead, Chief Executive Tel: +44 (0) 207 291 0505Dean Finch, Finance Director Tel: +44 (0) 207 291 0512Rachael Borthwick, Corporate Communications Director Tel: +44 (0) 207 291 0508 JPMorgan Cazenove Tel: +44 (0) 207 588 2828(Financial advisers & broker to FirstGroup)Ian HannamMalcolm Moir Tricorn Partners Tel: +44 (0) 207 823 0888(Financial advisers to FirstGroup)Justin Dowley UBS(Broker to FirstGroup)Robert Jennings Tel: +44 (0) 20 7568 2809Christopher Smith Tel: +44 (0) 20 7568 4389 Brunswick Tel: +44 (0) 207 404 5959(PR for FirstGroup)Giles Croot JPMorgan Cazenove Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting exclusively for theCompany and no one else in connection with the Placing and will not beresponsible to anyone other than the Company for providing the protectionsafforded to its clients nor for providing advice in relation to the Placing orin relation to the contents of this announcement or for any other transaction,arrangement or matters referred to in this announcement. Tricorn Partners, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively as financial adviser for theCompany and no one else in connection with the Placing and will not beresponsible to anyone other than the Company for providing the protectionsafforded to its clients or for providing advice in relation to the Placing or inrelation to the contents of this announcement, or for any other transaction,arrangement or matters referred to in this announcement. UBS Limited is acting exclusively for the Company and no one else in connectionwith the Placing and will not be responsible to anyone other than the Companyfor providing the protections afforded to its clients nor for providing advicein relation to the Placing or in relation to the contents of this announcementor for any other transaction, arrangement or matters referred to in thisannouncement. 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. 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 doesnot constitute an offer to sell or issue, or the solicitation of an offer to buyor subscribe for, securities in the United States, Canada, South Africa,Australia or Japan or any jurisdiction in which such offer or solicitation isunlawful and should not be relied upon in connection with any decision toacquire Placing Shares or other securities in the capital of the Company. The Placing Shares have not been, and will not be, registered under the U.S.Securities Act of 1933, as amended (the "Securities Act") or under the laws ofany state of the United States and may not be offered, sold or transferred,directly or indirectly, within the United States except pursuant to an exemptionfrom, or in a transaction not subject to, the registration requirements of theSecurities Act and applicable state securities laws. In the United States, theoffering is being made only to a limited number of "qualified institutionalbuyers" in reliance on Rule 144A under the Securities Act. This announcementdoes not constitute an offer to sell or the solicitation of an offer to buy, norshall there be any sale of, the Placing Shares in any state in which such offer,solicitation or sale would be unlawful. The Placing Shares have not been, andwill not be, registered with any regulatory authority of any state within theUnited States. 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