8th Jan 2008 16:30
Dechra Pharmaceuticals PLC08 January 2008 8 January 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, MALAYSIA, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA Dechra Pharmaceuticals PLC ("Dechra" or the "Company") Result of Placing and Open Offer On 12 December 2007, the Company announced an Open Offer of 11,624,544 NewOrdinary Shares at an issue price of 303 pence per share to raise £35 million inorder to partly finance the proposed acquisition of VetXX Holding A/S ("VetXX").The Open Offer has been fully underwritten by Dresdner Kleinwort Limited("Dresdner Kleinwort"). Under the terms of the Placing Agreement, Dresdner Kleinwort has conditionallyplaced the Open Offer Shares, subject to clawback to satisfy valid applicationsfrom Qualifying Shareholders under the Open Offer, at the Open Offer price.Qualifying Shareholders were invited to subscribe for Open Offer Shares on thebasis of 11 Open Offer Shares for every 50 existing Ordinary Shares held. As a result of the Open Offer which closed at 10.30 a.m. today, validapplications have been received from Qualifying Shareholders in respect of8,849,097 shares (representing approximately 76.1 per cent. of the 11,624,544Open Offer Shares available under the Open Offer). In accordance with thearrangements set out in Part III of the Prospectus dated 13 December 2007,Dresdner Kleinwort has procured acquirers for the remaining 2,775,447 New Sharesfor which valid applications were not received, at a price of 303 pence per NewShare. The Open Offer remains conditional upon the admission of the New Ordinary Sharesto trading on the London Stock Exchange and listing on the Official List of theUK Listing Authority becoming effective. The New Ordinary Shares, when issued and fully paid, will rank pari passu withthe Existing Ordinary Shares in all respects. Admission of the New Ordinary Shares is expected to become effective on 9January 2007. Enquiries:Ian Page, Chief Executive Fiona Tooley, DirectorSimon Evans, Group Finance Director Keith Gabriel, Senior Account Manager Dechra Pharmaceuticals PLC Citigate Dewe RogersonTel: +44 (0) 1782 771100 Tel: +44 (0) 121 455 8370Mobile:+44 (0) 7775 642222 (IP) Mobile: +44 (0)7785 703523 (FMT)[email protected] Definitions used in the Prospectus shall have the same meanings when used inthis announcement unless the context otherwise requires. Dresdner Kleinwort Limited, which is authorised and regulated by the FinancialServices Authority, is acting as financial adviser, sponsor and broker to Dechra and is acting for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than Dechra forproviding the protections afforded to clients of Dresdner Kleinwort Limited,or for affording advice in relation to the contents of this announcement orany matters referred to herein. The information contained in this announcement is not for release, publicationor distribution to persons in the United States, Canada, Japan, Malaysia,New Zealand, South Africa or Australia or in any jurisdiction where to do so would breach any applicable law. This announcement is not an offer of securities for sale in, into or fromthe United States, Canada, Japan, Malaysia, New Zealand, South Africa or Australia. The New Ordinary Shares have not been and will not be registeredunder the US Securities Act of 1933 (as amended) or under any relevantsecurities laws of any state or other jurisdiction of the United States,and will not qualify for distribution under any of the relevant securitieslaws of Canada, Japan, Malaysia, New Zealand, South Africa or Australia.Accordingly, the New Ordinary Shares may not be offered, sold, taken up,exercised, resold, renounced, transferred or delivered, directly or indirectly,within the United States (absent registration or an applicable exemption fromregistration) or within Canada, Japan, Malaysia, New Zealand, South Africa or Australia. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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