28th Jun 2005 07:02
Volex Group PLC28 June 2005 Volex Group plc (the "Company") Results of Placing and Open Offer On 6 June 2005, the Company announced a Firm Placing and a Placing and OpenOffer of a total of 25,850,340 New Ordinary Shares at 73.5 pence each to raise£19.0 million (before expenses). Qualifying Shareholders were invited toparticipate in the Issue by way of the Open Offer and to apply for up to7,773,866 of these New Ordinary Shares on the basis of 5 Open Offer Shares forevery 19 Existing Ordinary Shares held on the Record Date and so in proportionto any number of Existing Ordinary Shares then held. Under the Open Offer which closed at 3.00p.m. on 27 June 2005, validapplications have been received in respect of 5,676,853 Open Offer Shares,representing approximately 73.0 per cent. of the Open Offer Shares availableunder the Open Offer. The remaining 2,097,013 Open Offer Shares will besubscribed for by institutional and other investors with whom they wereconditionally placed subject to a right of clawback to satisfy validapplications from Qualifying Shareholders under the Open Offer. 18,076,474 NewOrdinary Shares were also placed firm with institutional and other investorspursuant to the Firm Placing and will therefore be subscribed for by thoseinvestors. The Issue remains subject to shareholder approval, the resolutions for whichwill be proposed at an Extraordinary General Meeting of the Company to be heldon Wednesday 29 June 2005 at 11.00 a.m., and Admission. Assuming that shareholder approval is obtained it is expected that Admissionwill commence by 8.00 a.m. on 30 June 2005, for which applications have beenmade. CREST stock accounts are expected to be credited on 30 June 2005 inrespect of the New Ordinary shares to be held in uncertificated form anddefinitive share certificates in respect of the New Ordinary Shares to be heldin certificated form are expected to be posted, where applicable, by 7 July2005. Unless the context provides otherwise, words and expressions defined in theprospectus sent to shareholders of the Company dated 6 June 2005 shall have thesame meanings in this announcement. 28 June 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Volex