16th May 2005 12:07
Melrose PLC16 May 2005 Not for release, publication or distribution, in whole or in part, in, into orfrom the United States, Canada, Japan or Australia. 16 May 2005 Melrose PLC ("Melrose" or the "Company") Result of Open Offer and EGM Result of Open offer On 21 April 2005, Melrose announced the proposed acquisitions of Dynacast andMcKechnie and an associated placing of 199,807,334 New Ordinary Shares and anopen offer to qualifying shareholders of up to 2,186,666 New Ordinary Shares onthe basis of 1 New Ordinary Share for every 6 Existing Ordinary Shares. The Open Offer was an opportunity for all shareholders to subscribe for NewOrdinary Shares pro rata to their current holdings and was intended to allowshareholders with relatively small holdings to participate in the fundraising.Under the Open Offer, valid applications have been received for 2,888,215 NewOrdinary Shares. This represents approximately 132 per cent. of the New OrdinaryShares offered under the Open Offer. Accordingly, applications up to a shareholder's basic entitlement will be met infull and excess applications will be scaled back. Letters confirming the numberof shares allotted to each individual applicant will be despatched together withexcess monies in respect of scaled down applications by no later than 3 June2005. The Placing and Open Offer remain conditional upon completion of theAcquisitions and the admission of the Enlarged Share Capital to trading on AIM,both of which are currently expected to take place on 26 May 2005 following thereceipt of regulatory clearances. Result of Extraordinary General Meeting The Company announces that at the Extraordinary General Meeting which took placeearlier today, the resolution proposed to shareholders, approving, inter alia,the Acquisitions, was unanimously passed. Completion of the proposed acquisitions is currently expected to occur on 26 May2005, following the receipt of regulatory clearances. Terms defined in the Melrose Prospectus, dated 21 April 2005, have the samemeaning when used in this announcement. Enquiries Melrose PLCSimon Peckham Tel: 020 7716 5639 N M Rothschild & Sons Limited:Philip Swatman Tel: 020 7280 5000Meyrick Cox Tel: 020 7280 5000Ravi Gupta Tel: 020 7280 5000 Investec:Keith Anderson Tel: 020 7597 5000Rupert Krefting Tel: 020 7597 5000 M Communications:Nick Miles Tel: 020 7153 1535Nick Fox Tel: 020 7153 1540Tom Hampson Tel: 020 7153 1522 This announcement does not constitute an offer to sell or an invitation tosubscribe for, or the solicitation of an offer to buy or subscribe for, NewOrdinary Shares in any jurisdiction where such an offer or solicitation isunlawful. The New Ordinary Shares have not been, and will not be, registeredunder the US Securities Act or under the securities laws of any state, districtor other jurisdiction of the United States, or of Canada, Japan, Australia, orany other jurisdiction and no regulatory clearances in respect of the NewOrdinary Shares have been, or will be, applied for in any jurisdiction otherthan the UK. Accordingly, subject to certain exceptions, the New Ordinary Sharesare not being, and may not be, offered for sale or subscription, or sold orsubscribed, directly or indirectly, within the United States, Canada, Japan orAustralia or any jurisdiction where it would be unlawful to do so or to or byany national, resident or citizen of such countries. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Melrose