31st Aug 2005 07:00
Helphire Group PLC31 August 2005 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND ORJAPAN For release at 7.00 a.m. on 31 August 2005 Helphire Group plc ("Helphire") RESULT OF OPEN OFFER On 4 August 2005, Helphire Group plc announced a placing and open offer of15,423,709 New Ordinary Shares at 260p per share to raise approximately £40.1million in order to satisfy the cash elements of the consideration for theacquisition of Swift Rentacar Limited and to repay indebtedness and expenses of£13.0 million arising from the acquisition of Albany in October 2004. The Board of Helphire announces that by 11.00 a.m. on 30 August 2005, being thelatest time and date for receipt of completed Application Forms and payment infull under the Open Offer or settlement of the relevant CREST instruction, validapplications had been received from Qualifying Shareholders in respect of14,251,590 New Ordinary Shares representing approximately 92.4 per cent. of theNew Ordinary Shares available under the Open Offer. 1,172,119 New Ordinary Shares not applied for by Qualifying Shareholders underthe Open Offer will be taken up by placees in accordance with the PlacingAgreement. The New Ordinary Shares will, on Admission, rank in full for all dividends andother distributions declared, made or paid on the Existing Ordinary Shares afterAdmission (save that they will not rank for the final dividend declared byHelphire for the year ended 31 March 2005) and will otherwise rank pari passu inall respects with the Ordinary Shares in issue at the date of the Prospectus. The Acquisition and the Placing and Open Offer remain conditional upon, interalia, admission of the New Ordinary Shares to the Official List and to tradingon the London Stock Exchange's market for listed securities and the passing ofcertain Resolutions by the Company's shareholders at the EGM to be held today.Application has been made to the UK Listing Authority for the New OrdinaryShares to be admitted to the Official List and to the London Stock Exchange foradmission to trading on its market for listed securities. It is expected thatAdmission will become effective and dealings in the New Ordinary Shares willcommence on 2 September 2005. Terms used in this Announcement shall have the same meanings as in theProspectus which was sent to Shareholders on 5 August 2005. Enquiries: Helphire Group plc: Nick Tilley, Company Secretary. 01225 321 000 Binns & Co PR: Chris Steele,020 7153 1481 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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