3rd Apr 2008 11:37
Afren PLC03 April 2008 3 April 2008 Afren plc (AFR LN) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTOAUSTRALIA, CANADA, JAPAN OR THE UNITED STATES Result of Placing - GBP118.75 million Raised Afren plc ("Afren" or the "Company") announces that it has raised GBP118.75million before commissions and expenses by the placing completed today of 95million new ordinary shares of 1 pence each in the capital of the Company (the"Placing Shares") with institutional investors at 125 pence per share (the"Placing"). Merrill Lynch International ("Merrill Lynch") is acting as solebookrunner and Jefferies International Limited ("Jefferies") is acting as aco-lead manager, in relation to the Placing. The Placing represents in aggregate approximately 35 per cent. of the issuedshare capital of Afren prior to the Placing. The Placing Shares will, whenissued, rank pari passu in all respects with the existing issued ordinary sharesof Afren, including the right to receive all dividends and other distributionsdeclared, made or paid after the date of issue. The Company will apply for admission of the Placing Shares to trading on the AIMmarket of the London Stock Exchange ("Admission"). It is expected thatAdmission will take place and that trading will commence on 15 April 2008. The Placing is conditional upon, inter alia, Admission becoming effective andupon the passing of the Resolutions (without amendment) at the EGM scheduled for14 April 2008. The Placing is also conditional on the placing agreement madebetween the Company, Merrill Lynch and Jefferies not being terminated. It isanticipated that the settlement date will be 15 April 2008. Capitalised terms used, but not defined in this announcement have the samemeanings as set out in the Placing Announcement. Contacts Afren plc +44 20 7451 9700Osman Shahenshah Chief ExecutiveEvert Jan Mulder Chief Operating OfficerGalib Virani Investor Relations Merrill Lynch International +44 20 7996 1000Andrew OsborneOliver Holbourn Jefferies International Limited +44 20 7029 8000Toby HaywardOliver Griffiths Pelham Public Relations +44 20 7743 6673James HendersonAlisdair Haythornthwaite General Merrill Lynch, which is authorised and regulated by the Financial ServicesAuthority, is acting exclusively for the Company and no-one else in relation tothe Placing and will not be responsible to any person other than the Companyunder FSMA, the rules of the FSA or otherwise for providing the protectionsafforded to its clients or for any matter concerning the Placing or forproviding advice in relation to the Placing or in relation to the contents ofthis announcement or any other transaction, arrangement or matter referred toherein. Merrill Lynch can be contacted at 2 King Edward Street, London, EC1A1HQ. Jefferies, which is authorised and regulated by the Financial ServicesAuthority, is acting exclusively for the Company and no-one else in relation tothe Placing and will not be responsible to any person other than the Companyunder FSMA, the rules of the FSA or otherwise for providing the protectionsafforded to its clients or for any matter concerning the Placing or forproviding advice in relation to the Placing or in relation to the contents ofthis announcement or any other transaction, arrangement or matter referred toherein. Jefferies can be contacted at 68 Upper Thames Street, London, EC4V 3BJ. Members of the public are not eligible to participate in the Placing. Thisannouncement is for information purposes only and does not constitute an offerto issue or sell, or the solicitation of an offer to subscribe for or acquire,any securities to any person in any jurisdiction, including without limitationin Australia, Canada, Japan or the United States. The distribution of this announcement and the Placing and / or issue of thePlacing Shares in certain jurisdictions may be restricted by law. No action hasbeen taken by the Company, Merrill Lynch or Jefferies, or any of theirrespective Affiliates that would permit an offer of the Placing Shares orpossession or distribution of this announcement or any other offering orpublicity material relating to such Placing Shares in any jurisdiction whereaction for that purpose is required. Persons into whose possession thisannouncement comes are required by the Company, Merrill Lynch and Jefferies toinform themselves about and to observe any such restrictions. This announcement is not an offer of securities for sale in the United States.Securities may not be offered or sold in the United States absent registrationunder the US Securities Act of 1933 (the "Securities Act") or an exemptiontherefrom. The Company has not registered and does not intend to register any ofits Ordinary Shares under the Securities Act. There will not be any publicoffering of the Placing Shares in the United States. The securities to which this announcement relates may be illiquid and/or subjectto restrictions on their resale. Prospective investors in the Placing Sharesshould conduct their own due diligence on the Placing Shares and the Company.Prospective investors who do not understand the contents of this announcementshould consult an authorised financial adviser. -------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AFR.L