18th Jan 2005 07:00
Medical Solutions PLC18 January 2005 Not for release, distribution or publication in or into the US, Canada, Ireland,Australia, South Africa or Japan 18 January 2005 MEDICAL SOLUTIONS PLC Result of Open Offer On 22 December 2004 the Company announced a Placing and Open Offer, fullyunderwritten by Nomura International plc, to raise approximately £6.4 millionbefore expenses through the issue of a total of 94,321,384 New Ordinary Shares.As previously announced, 10,888,234 of these New Ordinary Shares were placedsubject to clawback under the Open Offer. Medical Solutions announces that, by3.00pm yesterday (being the latest time and date for receipt of completedApplication Forms and payment in full under the Open Offer), valid applicationshad been received in respect of 6,387,722 New Ordinary Shares, representing 58.7per cent. of the shares available pursuant to the Open Offer. Included in thisamount are 173,707 New Ordinary Shares which the Directors had agreed tosubscribe for under the terms of the Open Offer. Consequently, a total of87,933,662 New Ordinary Shares will now be placed under the Placing. Application has been made to the UK Listing Authority for the New OrdinaryShares that are the subject of the Placing and Open Offer and the Other Sharesto be admitted to the Official List. Application has also been made to theLondon Stock Exchange for the New Ordinary Shares that are the subject of thePlacing and Open Offer and the Other Shares to be admitted to trading on itsmarket for listed securities. It is expected that admission will becomeeffective and trading commence at 8.00am on 19 January 2005. The Other Sharesare being issued pursuant to acquisition agreements previously entered into bythe Company, further details of which are set out in the Company's prospectuspublished on 22 December 2004. Therefore application for admission has been madein respect of a total of 105,888,543 New Ordinary Shares. For further information please contact: Bell PottingerAnn-marie Wilkinson/Geoff Callow Tel: 020 7861 3232 Nomura International plc is acting exclusively for Medical Solutions in relationto the Placing and the Open Offer and is not advising any other person ortreating any other person as its client in relation thereto, and will not beresponsible to any person other than Medical Solutions for providing theprotections afforded to its clients nor for providing advice in relation to thePlacing or the Open Offer. Charles Stanley & Company Limited is acting exclusively for Medical Solutions inrelation to the Placing and is not advising any other person or treating anyother person as its client in relation thereto, and will not be responsible toany person other than Medical Solutions for providing the protections affordedto its clients nor for providing advice in relation to the Placing. The Directors and Proposed Directors (being Neil Johnston and Robin Slinger) ofMedical Solutions accept responsibility for the information contained in thisannouncement. To the best of the knowledge and belief of the Directors and theProposed Directors (who have taken all reasonable care to ensure that such isthe case) the information contained in this announcement is in accordance withthe facts and does not omit anything likely to affect the import of suchinformation. This announcement does not constitute or form part of any offer or invitation tosell or issue, or the solicitation of any offer to subscribe for, the NewOrdinary Shares in any jurisdiction in which such offer or solicitation isunlawful. The New Ordinary Shares have not been, and will not be, registeredunder the US Securities Act of 1933 (as amended), under the securities laws ofany state of the US or under the applicable securities laws of Canada, Ireland,Australia, South Africa or Japan. Accordingly, unless an exemption under anyapplicable law is available, the New Ordinary Shares may not be offered, sold,transferred, taken up or delivered, directly or indirectly, in the US, Canada,Ireland, Australia, South Africa or Japan or any other country outside theUnited Kingdom where such distribution may lead to a breach of any legal orregulatory requirement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SBS.L