8th Jan 2010 11:59
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, JERSEY, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA.
8 January 2010
ABERDEEN ASSET MANAGEMENT PLC
Results of Placing
Aberdeen Asset Management PLC ("Aberdeen" or "the Company") is pleased to announce the successful completion of the non pre-emptive placing (the "Placing") announced earlier today.
A total of 90,000,000 new ordinary shares in the Company (the "Placing Shares") have been placed by J.P. Morgan Cazenove Limited ("JPMC"), BNP Paribas ("BNPP") and Canaccord Adams Limited ("Canaccord") with institutions at a price of 132 pence per Placing Share (the "Placing Price"), which represents a discount of 4.8% to the closing price on 7 January 2010. Based on the Placing Price, the gross proceeds of the Placing will be approximately £119 million. The Placing Shares being issued represent an increase of approximately 8.9% in Aberdeen's existing issued ordinary share capital.
The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of Aberdeen, including the right to receive all dividends and other distributions declared, made or, paid after the date of issue. The Placing Shares are ex-dividend with respect to the 2009 final dividend.
Applications have been made for the Placing Shares to be admitted to the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange (together, the "Admission"). It is expected that Admission will take place and that trading in the Placing Shares will commence on 13 January 2010.
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Enquiries |
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Aberdeen Asset Management PLC |
+44 (0) 20 7463 6000 |
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Martin Gilbert |
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Bill Rattray |
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J.P. Morgan Cazenove Limited |
+44 (0) 20 7588 2828 |
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Ian Hannam |
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Piers Davison |
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Neil Haycock |
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Maitland |
+44 (0) 20 7379 5151 |
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Neil Bennett |
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Charlotte Walsh |
Important Information
This Announcement is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan, Jersey, the Republic of Ireland or the Republic of South Africa or any jurisdiction into which the same would be unlawful. This announcement does not constitute or form part of any offer to sell or solicitation of an offer to purchase or subscribe for any securities in the United States, Australia, Canada, Japan, Jersey, the Republic of Ireland or the Republic of South Africa.
This Announcement is not an offer of securities for sale in or into the United States. The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under the laws of any State of the United States and may not be offered or sold in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of securities will be made in the United States.
In member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (Directive 2003/71 /EC) (the "Prospectus Directive") (each a "Relevant Member State"), this Announcement is only addressed to and directed at persons who are 'qualified investors' within the meaning of Article 2(1)(e) of the Prospectus Directive ("Qualified Investors"). Any person in the EEA who initially acquires any securities in the Placing or to whom any offer of securities is made will be deemed to have acknowledged and agreed that they are such a Qualified Investor.
In the case of any securities acquired by a financial intermediary as that term is used in Article 3(2) of the Prospectus Directive, such financial intermediary will also be deemed to have represented, acknowledged and agreed that the securities acquired by it in the Placing have not been acquired on a non-discretionary basis on behalf of, nor have they have been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of securities to the public other than their offer or resale in a Relevant Member State to Qualified Investors or in circumstances in which the prior consent of JPMC, in the case of the Placing Shares, has been obtained to each such proposed offer or resale.
In the United Kingdom, this Announcement is only addressed to Qualified Investors who are persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) falling within Article 49(2)(a) to (d) (high net worth companies, incorporated associations, etc.) of the Order; and (c) other persons to whom it may otherwise lawfully be communicated (such persons together being referred to as "FPO Persons").
No prospectus has been or will be published in connection with the Placing.
This Announcement is for information purposes only and does not constitute an offer or an invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction and should not be relied upon in connection with any decision to acquire the Placing Shares or other securities in the capital of Aberdeen.
This Announcement has been issued by and is the sole responsibility of Aberdeen. JPMC, J.P. Morgan Securities Ltd. ("JPMSL"), BNPP and Canaccord (together, the "Syndicate") are acting for Aberdeen in connection with the acquisition by the Company of certain fund management assets and contracts from The Royal Bank of Scotland Asset Management Limited (the "Acquisition") and the Placing and no one else and will not be responsible to anyone other than Aberdeen for providing the protections afforded to each of their respective clients or for providing advice in relation to the Acquisition and Placing. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by the Syndicate or by any of their affiliates or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
The distribution of this Announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by Aberdeen or the Syndicate that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by Aberdeen and the Syndicate to inform themselves about, and to observe, any such restrictions.
Certain statements in this Announcement are forward-looking statements which are based on Aberdeen's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, Aberdeen undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Any indication in this Announcement of the price at which ordinary shares have been bought or sold in the past cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser. No statement in this Announcement is intended to be a profit forecast and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.
The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares.
Related Shares:
ADN.L