27th Jun 2005 07:00
Aberdeen Asset Management PLC27 June 2005 Aberdeen Asset Management PLC - Result of Open Offer 27 JUNE 2005 EMBARGOED TO 7AM NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO ORFROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA ORTHE REPUBLIC OF IRELAND Result of Open Offer On 3 May 2005, Aberdeen Asset Management PLC (the "Company") announced an issueof £75 million of Convertible Preference Share Units (each comprising onePreference Share and one Warrant) by way of a Placing and Open Offer. TheConvertible Preference Share Units carry a fixed coupon of 6.75% and have aconversion price of 138.75 pence. The issue was fully underwritten by JPMorgan,which was granted an overallotment option of a further £5 million of ConvertiblePreference Share Units. At the time of announcement, JPMorgan Cazenove, on behalf of JPMorgan, placedwith institutional and other investors 75,000 Convertible Preference Share Unitsat the Issue Price of £1,000, of which 25,000 were firm placed and 50,000 weresubject to clawback by Qualifying Shareholders in order to meet validapplications pursuant to the terms of the Open Offer. The Open Offer closed at 3.00pm on 24 June 2005, by which time the Company hadreceived valid applications in respect of 11,302 Convertible Preference ShareUnits from Qualifying Shareholders. This represents an aggregate take-up of 22.6per cent. of the total number of the Convertible Preference Share Units subjectto the Open Offer. The balance of the Convertible Preference Share Units nottaken up, being 63,698 Convertible Preference Share Units, will remain with theplacees. Application has been made for the Preference Shares and the Warrants to beadmitted to the Official List of the UK Listing Authority and for theConvertible Preference Share Units, the Preference Shares and the Warrants to beadmitted to trading on the London Stock Exchange's market for listed securities.Admission to trading of the Convertible Preference Share Units is expected tobecome effective at 8.00 a.m. on 30 June 2005, with conditional dealings takingplace from 8.00 a.m. on 27 June 2005. --END- For further information please contact Aberdeen Asset Management PLCMartin Gilbert, Chief Executive +44 20 7463 6000 MaitlandFiona Piper/Neil Bennett +44 20 7379 5151 JPMorgan Cazenove:Ian Hannam/ Richard Locke +44 20 7588 2828 This is not an offer of securities for sale in the United States. The offer andsale of the Convertible Preference Share Units, the Preference Shares and theWarrants or the Ordinary Shares to be delivered upon conversion of theConvertible Preference Share Units have not been and will not be registeredunder the U.S. Securities Act of 1933 (the "Securities Act") and, subject tocertain exceptions, may not be offered or sold within the United States. Anyoffering of securities to be made in the United States will be made by means ofa Prospectus that will contain detailed information about the Company andmanagement, as well as financial statements. No public offering of securitieswill be made in the United States and any offering will be made pursuant to anapplicable exemption from the registration requirements of the Securities Act. JPMorgan Cazenove Limited ("JPMorgan Cazenove") and J.P. Morgan Securities Ltd.("JPMorgan"), which are authorised and regulated in the United Kingdom by theFinancial Services Authority, are acting exclusively for the Company andAberdeen Warrants (Jersey) Limited in connection with the Placing and Open Offerand not for any other person and will not be responsible to any other person forproviding the protections afforded to customers of JPMorgan Cazenove andJPMorgan or for providing advice in relation to the Placing and Open Offer, thecontents of the Prospectus dated 3 June 2005 or this press release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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