21st Mar 2006 15:41
Aricom PLC21 March 2006 THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION,RELEASE OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES Aricom PLC ("Aricom" or the "Company") Result of Placing Aricom announces that a total of 200,000,000 Placing Shares have beensuccessfully placed by Canaccord Adams and JPMorgan Cazenove (the"Bookrunners") at a price of 45 pence per Placing Share, raising approximatelyUS$158 million (£90 million) before expenses. Aricom Chairman, Sir Malcolm Field, commented: "We are delighted with the positive response to this placing. We are pleasedwith the quality of our enlarged shareholder base and welcome our newshareholders; their investment will enable us to continue to take advantageof the extraordinary mineral wealth in the Far East of Russia. Aricom's abilityto achieve this substantial share placing demonstrates the market's confidencein our strategic moves into bulk mining and iron ore in particular. "It is satisfying to be able to take our next steps being well funded. Theproceeds will allow us to complete the development of Kuranakh and fund theinitial development plans for the Bolshoi Seym ilmenite and magnetite interestAricom has acquired and the Kimkanskoye and Sutarskoye iron ore interests itproposes to acquire. The funds raised will also allow Aricom to deliver furthergrowth opportunities in Russia's Far East, where the directors have developedconsiderable business experience and strong regional relationships, and whichis, to date, a little-recognised commercial gateway to China and, through thePacific ports, to the rest of Asia." The Placing Shares will be issued credited as fully paid and will rank paripassu in all respects with Aricom's existing ordinary shares, including theright to receive all future dividends and other distributions declared, made or paid after the date of issue of the Placing Shares. Application will be made for admission of the Placing Shares to trading on theAIM Market of the London Stock Exchange ("Admission"). It is expected thatAdmission will become effective and dealings in the Placing Shares will commenceat 8.00 a.m. on 19 April 2006. The Placing is conditional, inter alia, upon shareholder approval, Admissionbecoming effective on 19 April 2006 (or such later date as the Bookrunners andAricom may agree, this being no later than 28 April) and on no force majeure event having occurred before Admission. Enquiries: Aricom plc Tel: +44 (0) 20 7201 8939Tom Swithenbank, Chief Executive Millbrook Partnership Tel: +44 (0) 207 520 9455Tim Grey Canaccord Adams Ltd Tel: +44 (0) 20 7518 7330Mike JonesRobert Finlay JPMorgan Cazenove Tel: +44 (0) 20 7588 2828Ian HannamPatrick MageeRobert Stafler Terms defined in this morning's announcement have, unless the context otherwise requires, the same meanings when used in this announcement. This announcement does not constitute an invitation to underwrite, subscribe foror otherwise acquire or dispose of any ordinary shares in the capital of theCompany ("Aricom Shares"). Past performance is no guide to future performanceand any investment decision to buy Placing Shares must be made solely on thebasis of Publicly Available Information (as defined in the Appendix to this morning's announcement). Persons needing advice should consultan independent financial adviser who specialises in advising in connection withshares and other securities. This announcement is not for publication or distribution, directly orindirectly, in or into the United States. This announcement is for informationonly and does not constitute an offer or invitation to acquire or dispose ofAricom Shares in the United States. The Aricom Shares have not been and will notbe registered under the U.S. Securities Act of 1933, as amended, (the"Securities Act") and may not be offered or sold in the United States exceptpursuant to an exemption from, or in a transaction not subject to, theregistration requirements of the Securities Act. There will be no public offerof Aricom Shares in the United States, the United Kingdom or elsewhere. The distribution of this announcement and the offering or sale of the PlacingShares in certain jurisdictions may be restricted by law. No action has beentaken by the Company, Canaccord or JPMorgan Cazenove that would permit anoffering of such ordinary shares or possession or distribution of thisannouncement or any other offering or publicity material relating to suchordinary shares in any jurisdiction where action for that purpose is required.Persons into whose possession this announcement comes are required by theCompany, Canaccord and JPMorgan Cazenove to inform themselves about and toobserve any such restrictions. No representation or warranty, express or implied, is or will be made as to, orin relation to, and no responsibility or liability is or will be accepted byCanaccord or JPMorgan Cazenove or by any of their affiliates or agents as to orin relation to, the accuracy or completeness of this announcement, or any otherwritten or oral information made available to or publicly available to anyinterested party or its advisers and any liability therefore is hereby expresslydisclaimed. Canaccord, which is authorised and regulated by the FSA, is acting for Aricom inconnection with the Placing and no one else and will not be responsible toanyone other than Aricom for providing the protections afforded to clients ofCanaccord nor for providing advice in relation to the Placing. JPMorgan Cazenove, which is authorised and regulated by the FSA, is acting forAricom in connection with the Placing and no one else and will not beresponsible to anyone other than Aricom for providing the protections affordedto clients of JPMorgan Cazenove nor for providing advice in relation to thePlacing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Orogen GoldPOG.L