23rd Sep 2009 13:24
23 September 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
LIBERTY INTERNATIONAL PLC
RESULT OF THE PLACING OF 56.1 MILLION NEW ORDINARY SHARES RAISING GROSS PROCEEDS OF £280.5 MILLION
Liberty International PLC ("Liberty International" or the "Company") announces that it has raised £280.5 million before commissions and expenses from the Placing completed today of 56,100,000 new ordinary shares at a price of 500 pence per share (the "Placing Price"). The Placing represents in aggregate 9.9 per cent of the issued share capital of Liberty International prior to the Placing. Merrill Lynch International ("Merrill Lynch") acted as sole bookrunner in relation to the Placing.
The Placing Shares will, when issued, be subject to the memorandum and articles of association of the Company and be credited as fully paid and will rank pari passu in all respects with the existing issued ordinary shares of 50 pence per share in the capital of the Company, including the right to receive all dividends and other distributions declared in respect of such ordinary shares after the date of issue of the Placing Shares. The Placing Shares will not be entitled to the interim dividend of 5.0 pence per share in respect of 2009. The Placing Shares will be entitled to receive the anticipated final dividend payment of 11.5 pence per share in respect of 2009 payable in 2010.
Application will be made to the FSA for admission of the Placing Shares to the official list maintained by the FSA (the "Official List") and to the London Stock Exchange for admission to trading of the Placing Shares on the London Stock Exchange's main market for listed securities (together "Admission"). Application will also be made to the JSE for the Placing Shares to be admitted to the JSE at the same time as Admission occurs. It is expected that Admission will take place at 8.00 a.m. on 5 October 2009 and that dealings in the Placing Shares on the London Stock Exchange's main market for listed securities will commence at that time.
The Placing is conditional, inter alia, upon Admission becoming effective and the Placing Agreement becoming unconditional and not having been terminated in accordance with its terms. It is anticipated that the settlement date will be 5 October 2009.
Capitalised terms used but not defined in this announcement have the same meanings as set out in the placing announcement of the Company released at 7.00 a.m. on the date hereof.
Enquiries:
Liberty International PLC
David Fischel Chief Executive +44 (0)20 7960 1207
Ian Durant Finance Director +44 (0)20 7960 1210
Kate Bowyer Investor Relations +44 (0)20 7960 1250
BofA Merrill Lynch +44 (0)20 7628 1000
Simon Mackenzie-Smith
Simon Fraser
Rupert Hume-Kendall
Public relations
UK: Michael Sandler, Hudson Sandler +44 (0)20 7796 4133
SA: Nicholas Williams
College Hill Associates +27 (0)11 447 3030
Certain statements made in this Announcement constitute forward-looking statements. Forward looking statements are typically identified by the use of forward looking terminology such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'intends', 'estimates', 'plans', 'assumes' or 'anticipates' or the negative thereof or other variations thereon or comparable terminology, or by discussions of, e.g. future plans, present or future events, or strategy that involve risks and uncertainties. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Company's current beliefs and expectations about future events. Such statements are based on current expectations and, by their nature, are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statement. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company and its subsidiaries. Factors that might cause forward-looking statements to differ materially from actual results include, among other things, the following: global economic conditions; economic conditions in the UK and other jurisdictions in which Liberty International operates or invests; volatile property prices; any inability of the Company to hedge certain risks economically; and exposure to various types of market risk (e.g. interest rate risk and foreign exchange rate risk). The forward-looking statements contained in this Announcement speak only as of the date of this Announcement and the Company undertakes no duty to, and will not necessarily, update any of them in light of new information or future events, except to the extent required by applicable law, the Prospectus Rules, the Listing Rules and the Disclosure and Transparency Rules.
This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or acquire, or the solicitation of an offer to buy, sell, issue, or acquire any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In particular, this Announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States, Australia, Canada or Japan. This Announcement has been issued by and is the sole responsibility of the Company and should not be relied upon in connection with any decision to subscribe for or acquire any of the Placing Shares, No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Merrill Lynch or by any of its Affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
Merrill Lynch, which is authorised and regulated in the United Kingdom by the FSA, is acting for the Company and for no-one else in connection with the Placing, and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Merrill Lynch or for providing advice to any other person in relation to the Placing or any other matter referred to herein.
The Placing Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any State or other jurisdiction of the United States, and may not be offered, sold or transferred, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any State or other jurisdiction of the United States. There will be no public offering of securities in the United States or elsewhere.
The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares.
Related Shares:
INTU.L