9th Sep 2008 15:38
The Ministry of Defence
9 September 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR IN OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN Government disposal of interest in QinetiQ Group plc
9 September 2008
The UK Secretary of State for Defence, acting through the UK Ministry of Defence (the 'MOD'), is pleased to announce the successful placement (the 'Placing') of 124,885,445 ordinary shares of 1p each (the 'Shares') in the capital of QinetiQ Group plc ('QinetiQ' or the 'Company'), representing its entire holding of ordinary shares in the Company, announced earlier today. The Shares were placed with investors at a price of 206 pence per Share and represent, in aggregate, approximately 18.9 per cent. of the current issued ordinary share capital of QinetiQ. The MOD will retain the special share it owns in QinetiQ.
Credit Suisse Securities (Europe) Limited ('Credit Suisse'), JPMorgan Cazenove Limited ('JPMorgan Cazenove') and Merrill Lynch International ('Merrill Lynch', and together with Credit Suisse and JPMorgan Cazenove, the 'Managers') acted as Joint Global Co-ordinators and Bookrunners and N M Rothschild & Sons Limited ('Rothschild') acted as independent financial adviser to the MOD in respect of the Placing.
Contacts:
The MOD
Darragh Mcelroy (MOD Press Office) +44 (0)20 7218 7909
Credit Suisse
George Maddison +44 (0)20 7888 8888
Antony Isaacs +44 (0)20 7888 8888
JPMorgan Cazenove
Laurence Hollingworth +44 (0)20 7155 5000
Robbie Constant +44 (0)20 7155 5000
Nicholas Hall +44 (0)20 7155 5000
Merrill Lynch International
John Crompton +44 (0)20 7628 1000
Simon Gorringe +44 (0)20 7628 1000
Oli Greaves +44 (0)20 7628 1000
This announcement has been issued by the MOD and is the sole responsibility of the MOD.
This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer or an invitation to acquire or dispose of any securities of QinetiQ in the United States, Canada, Australia or Japan or in any other jurisdiction in which such an offer of solicitation is unlawful.
The 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, absent registration, may not be offered or sold in the United States or to a U.S. person (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or as part of a transaction not subject to, the registration requirements of the Securities Act and 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.
Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information which has not been independently verified by the MOD, Rothschild or any of the Managers.
Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States, Canada, Australia or Japan. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian or Japanese securities laws.
The distribution of this announcement and the offering or sale of the Shares in certain jurisdictions may be restricted by law. No action has been taken by the MOD, the Managers, Rothschild or any of their respective affiliates that would, or which is intended to, permit a public offer of the Shares in any jurisdiction or possession or distribution of this announcement or any other offering or publicity material relating to the Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the MOD, the Managers and Rothschild to inform themselves about and to observe any such restrictions.
Credit Suisse Securities (Europe) Limited, JPMorgan Cazenove Limited, Merrill Lynch International and N M Rothschild & Sons Limited are acting for the MOD only in connection with the Placing, and no one else, and will not be responsible to anyone other than the MOD for providing the protections offered to clients of Credit Suisse Securities (Europe) Limited, JPMorgan Cazenove Limited, Merrill Lynch International and N M Rothschild & Sons Limited nor for providing advice in relation to the Placing.
Related Shares:
Qinetiq