10th May 2007 11:10
Babcock International Group PLC10 May 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. Babcock International Group PLC10 May 2007 Babcock International Group PLC ("Babcock" or the "Company") Result of equity placing to raise £90 million Babcock is pleased to announce the successful completion of the placingannounced earlier today (the "Placing"). A total of 19,000,000 new ordinary shares of 60 pence each (the "Placing Shares") have been placed with a range of institutional investors at a price of475 pence per Placing Share. The gross proceeds are approximately £90 million.The Placing Shares being issued represent approximately 9.1 per cent ofBabcock's issued ordinary share capital prior to the Placing. The Placing Shares will rank pari passu with the existing ordinary shares in allrespects, including the right to receive the proposed final dividend of 5.65pence announced today. 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 Tuesday, 15 May 2007. ENQUIRIES: Babcock Tel: +44 (0) 20 7291 5000Peter Rogers, Chief ExecutiveBill Tame, Finance Director JPMorgan Cazenove Tel: +44 (0) 20 7588 2828(Financial adviser, sponsor & broker to Babcock and sole bookrunner to the placing)Dermot McKechnieShona Graham Financial Dynamics Tel: +44 (0) 20 7269 7121(PR for Babcock)Andrew LorenzRichard Mountain Save as expressly set out, this announcement 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 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. Therewill be no public offer of Placing Shares in the United States, the UnitedKingdom or elsewhere. This announcement has been issued by and is the sole responsibility of theCompany. JPMorgan Cazenove and their respective affiliates and agents shall haveno liability for any information contained in it relating to the Company. JPMorgan Cazenove, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for the Company and noone else in connection with the Placing and will not be responsible to anyoneother than the Company for providing the protections afforded to its clients norfor 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. 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 thesecurities laws of any state of the United States and may not be offered, soldor transferred, directly or indirectly, within the United States except pursuantto an exemption from, or in a transaction not subject to, the registrationrequirements of the Securities Act and applicable state securities laws. Thisannouncement does not constitute an offer to sell or the solicitation of anoffer to buy, nor shall there be any sale of, the Placing Shares in any state inwhich such offer, solicitation or sale would be unlawful. The Placing Shareshave not been, and will not be, registered with any regulatory authority of anystate within the United States. No money, securities or other consideration isbeing solicited and, if sent in response to the information herein, will not beaccepted. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Babcock