7th Feb 2008 12:00
AssetCo PLC07 February 2008 For Immediate Release 7 February 2008 AssetCo plc NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTOTHE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA ORANY JURISDICTION IN WHICH SUCH PUBLICATION IS UNLAWFUL Result of the cash placing (the "Placing") AssetCo plc ("AssetCo" or the "Company") is pleased to announce the successful completion of the Placing announced earlier today. A total of 3,359,932 newordinary shares of 25 pence each (the "Placing Shares") have been placed, byHoare Govett Limited ("Hoare Govett") and Kaupthing Singer & FriedlanderCapital Markets Limited ("Kaupthing"), with institutional investors at a priceof 188 pence per share, raising approximately £6.3 million before commissionsand expenses. The Placing Shares represent in aggregate approximately 5% ofthe current issued share capital of the Company. The Placing Shares will be issued credited as fully paid and will rank paripassu in all respects with AssetCo's existing ordinary shares of 25 pence each,including the right to receive all dividends and other distributions declared,made or paid after the date of issue. The Placing is conditional on, inter alia, admission of the Placing Shares totrading on the AIM market ("AIM") of the London Stock Exchange plc("Admission") becoming effective by not later than 8.00 a.m. on 12 February2008. Application has been made to the London Stock Exchange plc for Admission. It isexpected that settlement will occur, Admission will become effective, and that dealings in the Placing Shares will commence, on 12 February 2008. Enquiries: AssetCo plc John Shannon, Chief Executive Officer +44 (0) 20 8515 3999Frank Flynn, Chief Finance Officer Hoare Govett (NOMAD and Joint Corporate Broker)Steve Bowler (Corporate Finance) +44 (0) 20 7678 0317John MacGowan (Corporate Broking) +44 (0) 20 7678 1084SyndicateJames Baker +44 (0) 20 7678 1050 Kaupthing (Joint Corporate Broker) +44 (0) 20 3205 5000Paul WedgeNicholas HowMarc Young Buchanan Communications +44 (0) 20 7466 5000Tim AndersonIsabel Podda This Announcement is for information purposes only and does not constitute anoffer or invitation to acquire or dispose of any securities or investmentadvice in any jurisdiction. Hoare Govett, which is authorised and regulated by the Financial ServicesAuthority, is acting exclusively for the Company and no one else in connectionwith the Placing and will not be responsible to anyone other than the Companyfor providing the protections afforded to customers of Hoare Govett or forproviding advice in relation to the Placing or any transaction or any othermatters referred to herein. Kaupthing, which is authorised and regulated by the Financial ServicesAuthority, is acting exclusively for the Company and no one else in connectionwith the Placing and will not be responsible to anyone other than the Companyfor providing the protections afforded to customers of Kaupthing or forproviding advice in relation to the Placing or any transaction or any othermatters referred to herein. Past performance is no guide to future performance and persons needing adviceshould consult an independent financial adviser. The information contained in this Announcement is not for release, publicationor distribution, directly or indirectly, to persons in the United States,Australia, Canada, Japan or the Republic of South Africa or in any jurisdictionin which such publication or distribution is unlawful. The Placing Shares havenot been and will not be registered under the US Securities Act of 1933, asamended, or under the laws of any state of the United States. ThisAnnouncement does not constitute an offer to sell or issue, or the solicitationof an offer to buy or subscribe for, securities in the United States, AustraliaCanada, Japan or the Republic of South Africa or in any jurisdiction in whichsuch offer or solicitation is unlawful and should not be relied upon inconnection with any decision to acquire Placing Shares or other securities inthe capital of the Company. There will be no public offer of Placing Shares inthe United Kingdom or elsewhere. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Assetco